Bitfarms will invest $240 million to purchase new mining machines to expand its hash rate

ChainCatcher news, according to Cointelegraph, Bitcoin mining company Bitfarms will invest nearly $240 million to upgrade its Bitcoin mining equipment, aiming to remain profitable after the Bitcoin halving in 2024.

Data shows that Bitfarms mined 286 BTC through Bitcoin mining in March 2024, and Bitfarms sold almost all the Bitcoin mined in the past two months for this expansion of computing power.