Bitfarms partners with strategic collaborators to expand HPC/AI business
Bitfarms Ltd., a prominent global Bitcoin and integrated data center company listed on NASDAQ and TSX as BITF, has recently taken a significant step towards expanding its business portfolio. On January 31, 2025, the company announced its partnership with two distinguished consultants in the field of High Performance Computing (HPC) and Artificial Intelligence (AI) – Appleby Strategy Group (ASG) and World Wide Technology (WWT). This move marks Bitfarms’ commitment to exploring the potential of its North American sites and devising a comprehensive strategy for global HPC and AI operations.
The engagement of ASG and WWT is aimed at conducting a thorough feasibility analysis of Bitfarms’ North American assets, evaluating their suitability for HPC and AI ventures. Moreover, these consultants will assist in formulating accelerated sales and development strategies for Bitfarms while also marketing the sites to potential customers. CEO Ben Gagnon expressed the company’s dedication to optimizing the value of their 1.2 GW North American portfolio through this strategic partnership. He emphasized that Bitfarms has identified its North American pipeline, especially sites situated on the PJM grid, as well-suited for HPC and AI applications. Gagnon further highlighted the long-term financial benefits inherent in contracts with HPC and AI clients, which are expected to generate consistent revenue streams alongside the ongoing monetization of Bitcoin mining operations.
Established in 2017, Bitfarms stands out as a pioneering force in the global Bitcoin and data center sector. The company leverages its computational power to contribute to various mining pools, receiving compensation in Bitcoin. With a focus on developing, owning, and operating vertically integrated mining facilities across multiple countries, Bitfarms ensures optimal operational performance and uptime with its proprietary data analytics system. Presently operating 12 Bitcoin data centers with two more in development, Bitfarms has secured hosting agreements with additional data centers in Canada, the United States, Paraguay, and Argentina. Notably, the company prioritizes sustainable practices by predominantly utilizing eco-friendly hydro-electric power sources and long-term energy contracts.
By engaging in strategic partnerships and embracing cutting-edge technologies such as HPC and AI, Bitfarms reaffirms its commitment to sustainable growth and value creation for its investors. This forward-thinking approach, combined with its robust operational framework and commitment to environmental responsibility, positions Bitfarms as a leading player in the evolving landscape of blockchain technology and data center operations. As the company continues to expand its global footprint and enhance its technological capabilities, shareholders can expect long-term value appreciation and financial stability in the dynamic digital landscape.