Argo Blockchain & Bitfarms Ramp Up Hardware Deployed

Québec-based mining firms Argo Blockchain and Bitfarms have both ramped up the number of mining rigs they have deployed on the Bitcoin network. Financial news site ProactiveInvestors reported that Argo Blockchain added 1,000 mining rigs with plans to add 6,000 more over the next two quarters. Argo Blockchain currently has 6,000 mining rigs deployed in total. The model of hardware rigs deployed was not specified.

Bitfarms is reported to have purchased 2,500 A10 Avalon miners. The Avalon A10 mining rig was announced in March this year and has a hash rate of 31 TH/s with a power efficiency of 56 W/T. Québec’s energy provider Hydro-Québec recently informed Bitcoin Magazine that they provide 668 MW of energy to Bitcoin miners. Cambridge CCAF estimates the total energy draw of the Bitcoin network to currently be 6.89 GW on the 24th of September which would indicate that Québec accounts for roughly 10% of the total energy consumption of the Bitcoin network.

Source: ProActiveInvestors, Decrypt