- Business
- Bitfarms Ltd. (BITF.TO) operates integrated bitcoin data centers across Canada, the United States, Paraguay and Argentina; it owns and operates facilities housing computers that validate transactions on the bitcoin blockchain, sells computational power for hashing calculations in cryptocurrency mining, hosts third-party mining hardware and provides electrician services to commercial and residential customers in Quebec, Canada. Founded in 2017 and headquartered at 110 Yonge Street, Suite 1601 in Toronto, Ontario, the company maintains 15 active data centers with 461 MW of energized capacity, including key sites such as Panther Creek and Scrubgrass in the USA, Bunker and Leger in Canada, Paso Pe in Paraguay and Rio Cuarto in Argentina; it emphasizes renewable energy sources, primarily hydroelectric power exceeding 99% of usage, and vertically integrates power assets for efficiency in bitcoin mining and emerging high-performance computing (HPC) and artificial intelligence (AI) infrastructure. Bitfarms pursues strategic expansion beyond bitcoin mining by converting its 18 MW Washington site to HPC/AI workloads targeting completion in December 2026 under a US$128 million fully funded agreement; it secured a US$300 million private debt facility with Macquarie Group for Panther Creek development, drawing US$50 million to accelerate construction, completed a US$500 million convertible senior notes offering due 2031 for AI/HPC transition and formed a partnership with T5 Data Centers for up to 1GW AI infrastructure at its Pennsylvania campus.