Crypto Miner Bitfarms to Invest $193 Million in Canadian Centers

Crypto Miner Bitfarms to Invest $193 Million in Canadian Centers

Backbone Hosting Solutions Inc., known as Bitfarms a cryptocurrency mining company, said it plans to invest C$250 million ($193 million) in computing centers in Sherbrooke, Canada.

Quebec-based Bitfarms said it entered into six hydropower purchasing agreements with generator Hydro-Sherbrooke, totaling 98 megawatts. By way of comparison, Hut 8 Mining Corp., a miner backed by billionaire investor Mike Novogratz, is working on a data center in Alberta that’ll have 42 megawatts of capacity by the end of the year.