Cointime

Download App
iOS & Android

Bitfarms secures $300 million loan for high-performance computing data centers expansion

  • Wechat scan to share

Bitfarms, a prominent global computer infrastructure company specializing in Bitcoin mining, has secured a $300 million loan from Macquarie Group to support the development of its high-performance computing (HPC) data centers. The initial $50 million from Macquarie's private debt facility will go towards Bitfarms' Panther Creek data center project in Pennsylvania, with the remaining $250 million to be released upon meeting specific development milestones. Once completed, Panther Creek will have a capacity of nearly 500 megawatts powered by multiple energy sources, making it attractive to HPC tenants. Bitfarms is facing regulatory challenges in expanding its energy capacity, with a timeline of 12 to 36 months for approval, but the acquisition of Stronghold Digital Mining is expected to help increase capacity.

Comments

All Comments

Recommended for you