Bitfarms Reaches 660 Petahash of Installed Computing Capacity and Announces Executive Appointment

Bitfarms Ltd., is pleased to announce that it has completed the installation of 2,500 new generation A10 Avalon miners at its Sherbrooke computing centre. The Company is also pleased to announce the appointment of Mathieu Vachon, a Founder of Bitfarms, to Executive Vice President, Technology and Operations to reflect his enhanced leadership role within the Company.

With the installation of the Avalon miners, delivery of which was announced on September 19, 2019, Bitfarms’ total installed computing power has grown to approximately 660 petahash per second consuming 49.5 megawatts (“MW”) of green surplus energy. We expect to continue optimizing performance of these machines over the next few weeks.

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“The infrastructure build and installation of miners at our newest and largest computing centre has been a success” commented Mathieu Vachon, Executive Vice President, Technology and Operations at Bitfarms. “Our vertically integrated business model has allowed us to quickly and efficiently expand our computational power, and our operational efficiency has improved to ~13.3 petahash per MW.”

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Wes Fulford, CEO of Bitfarms added “Mathieu has over 20 years of experience in designing, developing, and scaling software and hardware internet technology solutions. His expertise has been instrumental in the Company’s growth. Including the Avalon miners, we have completed the successful installation of 7,600 new generation miners, the deliveries of which were announced in September.”

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