Debate Over Crypto Mining's Potential Environmental Impacts Receives Strong Rebuttals - Seite 2

Global Bitcoin self-mining company, Bitfarms (NASDAQ:BITF) is running vertically integrated mining operations across Quebec, Canada, Washington state, and one in Paraguay. Each facility is over 99% powered with environmentally friendly hydro power and secured with long-term power contracts.

In its last production and mining update, Bitfarms stated it mined 405 Bitcoins for an average of 13.5 BTC per day—which as of this writing is worth ~US$509,000.

The company received a big boost after it initiated production at the Leger site in City of Sherbrooke, Québec, increasing total farms in production to nine and increasing operational capacity by 16 megawatts (MW) of its planned total of 30 MW of capacity, to a total electrical capacity of 137 MW.

"In early April, we surpassed our 3 exahash per second goal (EH/s) with the start of production at our Leger farm, our ninth operating facility," said Emiliano Grodzki, CEO of Bitfarms. "This momentum continued throughout the month, with new miner installations driving our hashrate to over 3.3 EH/s at month-end, up 22% from 2.7 EH/s at the end of March. This incremental capacity helped drive our average daily production in April to 13.5 BTC/day, up 15% from 11.7 BTC/day in March, and I'm proud to say we exited April running at over 14 BTC/day."

Marathon Digital (NASDAQ:MARA) continues to work towards transitioning its bitcoin miners from their Montana facility to new locations with more sustainable and non-carbon emitting sources of power. This follows after Marathon announced in 2021 its mining operations would be 100% carbon neutral by year-end 2022.

"Marathon made a commitment for our mining operations to be 100% carbon neutral by the end of 2022," said Fred Thiel, Chairman and CEO of Marathon. "With the majority of our fleet already scheduled to be deployed at renewable power facilities and deployments currently underway, we believe it is an appropriate time to transition our legacy operations away from fossil fuel generation and towards more sustainable sources of power."

To achieve this goal and build upon their current strategy, Marathon intends to transition its BTC miners from the Montana facility, which currently derives its power from a coal-fired power plant, to new locations with more sustainable sources of power. The transition is expected to be completed during Q3 2022, done in stages to minimize downtime and is currently.