Crypto company makes big bet that could revolutionize industry: ‘Locking in’
Bitfarms, a Canada-based bitcoin mining company, has invested heavily in hydroelectricity to power its facilities, saving it money in the long run.
Bitfarms is a vertically integrated bitcoin mining operation that also builds energy infrastructure and data centers, according to Finimize. The company has developed the capacity for hundreds of megawatts of hydroelectricity — which accounts for much of the company’s total energy supply.
Hydroelectricity is generated when a system of turbines and generators converts the natural movement of water into energy. This form of clean energy is responsible for far less pollution than fossil fuels such as coal and gas. It also has associated benefits, including flood control,…
