Bitfarms Ltd. (NASDAQ: BITF), a Bitcoin and vertically integrated data center company, announced it has engaged two consultants in HPC strategy and artificial intelligence (AI), Appleby Strategy Group (ASG) and World Wide Technology (WWT), to conduct a feasibility analysis on all its North American sites and “advise on its global HPC/AI strategy.”
In parallel, ASG and WWT will help “build accelerated sales and development strategies and market the sites on behalf of Bitfarms to potential customers.”
Bitfarms CEO Ben Gagnon stated:
“Bitfarms is committed to maximizing the utility and value of our 1.2 GW North American portfolio. ASG and WWT will draw upon their substantial expertise to evaluate our sites for HPC/AI. Based on active discussions over the past several months with potential HPC/AI partners and customers, we are confident that our North American portfolio pipeline, particularly sites located on the PJM grid, is strongly suited for HPC/AI. The contracts associated with HPC/AI customers provide long-term, steady cash flows and earnings streams while our Bitcoin mining operations will continue to monetize Bitcoin’s flexible upside potential, creating a powerful and resilient portfolio that will generate long-term value for our shareholders.”
Established back in 2017, Bitfarms is a Bitcoin and vertically integrated data center company that contributes its computational power to “one or more mining pools from which it receives payment in Bitcoin.”
Bitfarms develops, owns, and operates vertically integrated mining facilities with “in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers.”
The company’s data analytics system delivers “operational performance and uptime.”
Bitfarms reportedly has 12 “operating Bitcoin data centers and two under development, as well as hosting agreements with two data centers, in four countries: Canada, the United States, Paraguay, and Argentina.”
Powered “predominantly” by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to “using sustainable and often underutilized energy infrastructure.”