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     637  0 Kommentare Bitfarms Enters into Agreement to Develop 120 MW in U.S.; Provides 2025 Guidance of Over 35 EH/s

    -First U.S. large scale site supports 8 EH/s in 2025 with deployment of 600 PH/s in 2024-
    -Strategically located in PJM Interconnection market, providing access to low-cost, flexible power-
    -Increases 2025 power capacity to 648 MW, up 170% from current 240 MW-
    -Company establishes 2025 guidance of over 35 EH/s-

    This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated March 8, 2024, to its short form base shelf prospectus dated November 10, 2023.

    TORONTO, Ontario and BROSSARD, Québec, June 13, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX: BITF), a global vertically integrated Bitcoin mining company, today announced an agreement to develop up to 120 MW of power capacity and lease a site in Sharon, Pennsylvania.

    Situated strategically within the Pennsylvania-New Jersey-Maryland Interconnection (PJM), the largest wholesale electricity market in the U.S., and located in a deregulated state, this site offers access to competitive electricity supply and provides the opportunity to optimize and hedge energy costs effectively. PJM enjoys an abundant energy supply that is rapidly adding renewable capacity and significantly contributing to the decarbonation of the grid. The power supply dynamics offer load flexibility suitable for Bitcoin mining, along with opportunities for participation in demand response and other curtailment programs, enabling Bitfarms to improve its corporate electricity price and further diversify its revenue streams.

    “Executing on our strategy to cost-effectively expand our operating footprint in the U.S., we have entered into an agreement for flexible power trading within the PJM,” said Nicolas Bonta, Chairman and Interim CEO. “Leveraging our operational excellence and farm design expertise, we’re poised to optimize this site, facilitating efficient growth. This U.S. expansion not only strengthens our position in the industry but also enhances our geographical diversification. In addition, it raises our 2025 power capacity to 648 MW, 170% growth from current capacity and 47% growth from targeted year-end 2024 capacity. With the site’s ability to support 8 EH/s, alongside our recent acquisition of an additional 100 MW in Paraguay, we project 2025 guidance of over 35 EH/s. As additional opportunities in our pipeline come to fruition, we will update both our contracted power capacity and our 2025 EH/s target. We remain committed to pursuing similar strategic ventures aimed at delivering significant value to our shareholders,” concluded Mr. Bonta.

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    Bitfarms Enters into Agreement to Develop 120 MW in U.S.; Provides 2025 Guidance of Over 35 EH/s -First U.S. large scale site supports 8 EH/s in 2025 with deployment of 600 PH/s in 2024--Strategically located in PJM Interconnection market, providing access to low-cost, flexible power--Increases 2025 power capacity to 648 MW, up 170% from …

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