Bitfarms Becomes the First Authorized MicroBT Service Center in Canada
Bitfarms Ltd. (“Bitfarms”, or the “Company”) (TSXV:BITF // OTC:BFARF), today announces a strategic new milestone in our relationship with MicroBT, one of the leading manufacturers of Bitcoin mining equipment in the world.
First Authorized MicroBT Service Center in Canada
Over the last several months, Bitfarms repair technicians have undergone specialized training with MicroBT to learn the latest techniques and tools to repair MicroBT miners. Recently, Bitfarms has completed that extensive training process and has signed an agreement with MicroBT, making us the first official MicroBT service partner in Canada.
The new repair lab is part of the previously announced Cowansville expansion and will be completed on May 15th. The repair lab will officially start providing repair services on May 17th, 2021.
Under the agreement, MicroBT customers can choose to send their equipment to Bitfarms for both in warranty repairs and out of warranty repairs. Having a repair center in Canada saves customers time and money on costly shipping fees to China or large import duties into the USA.
For Bitfarms, the agreement allows us to hire more repair technicians, further expand our repair capabilities, significantly reduce the time and cost to repair our own miners and provide a new revenue stream for Bitfarms by offering the highest quality Bitcoin miner repair services to the Canadian public for the first time.
Emiliano Grodzki, CEO of Bitfarms said “MicroBT is one of the best Bitcoin miner manufacturers in the world. Bitfarms is excited to take our relationship with MicroBT to the next level with the signing of this new repair center agreement and look forward to even greater cooperation in the future.
Vincent Zhang of MicroBT said “Bitfarms has been a great customer for MicroBT over the last few years and has collectively purchased and agreed to purchase nearly 65,000 MicroBT miners to date. We look forward to continuing to grow our relationship with Bitfarms, who have proven themselves to be one of the leading operators in North America and a great company to do business with.”
About Bitfarms Ltd.
Founded in 2017, Bitfarms is a Bitcoin mining company, running vertically integrated mining operations with onsite technical repair, proprietary data analytics and Company-owned electrical engineering and installation services to deliver high operational performance and uptime.
Having demonstrated rapid growth and stellar operations, Bitfarms became the first Bitcoin mining company to complete its long form prospectus with the Ontario Securities Commission and started trading on the TSX-V in July 2019. On February 24, 2021 Bitfarms was honoured to be announced as a Rising Star by the TSX-V.