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Wall Street Bitcoin Miner Bitfarms Hires Consultants to Evaluate AI and HPC

Bitcoin

Friday, 31/01/2025 | 13:04 GMT by
Tareq Sikder

  • The firm runs 12 Bitcoin mining centres, with two more being developed in four countries.
  • The company relies on hydroelectric power and long-term energy contracts for its operations.

Bitcoin Mining

FM

Publicly listed Wall Street Bitcoin (BTC) miner Bitfarms
Ltd. (NASDAQ: BITF) has appointed two consulting firms, Appleby Strategy Group
(ASG) and World Wide Technology (WWT), to assess the feasibility of integrating
high-performance computing (HPC) and artificial intelligence (AI ) operations
into its infrastructure.

The consultants will evaluate all of Bitfarms’ North
American sites and provide recommendations for its global HPC and AI strategy.

Bitfarms Hires Consultants for HPC/AI Strategy

Ben Gagnon, Bitfarms CEO, Source: LinkedIn

“Bitfarms is committed to maximizing the utility and
value of our 1.2 GW North American portfolio. ASG and WWT will draw upon their
substantial expertise to evaluate our sites for HPC/AI.” Bitfarms CEO Ben
Gagnon commented.

In addition to the feasibility study, ASG and WWT will
develop sales and business expansion strategies for Bitfarms. They will also
assist in marketing the company’s facilities to potential customers looking for
data center solutions. The move comes as Bitcoin mining firms explore
diversification opportunities amid fluctuating market conditions and increasing
energy costs.

“Based on active discussions over the past several
months with potential HPC/AI partners and customers, we are confident that our
North American portfolio pipeline, particularly sites located on the PJM grid,
is strongly suited for HPC/AI,” Gagnon added.

Bitfarms Engages Strategic Partners to Develop HPC/AI Business – Green Stock News https://t.co/pLOpiVb3Rd $BITF #cleantech #blockchain pic.twitter.com/QQrp2I3rFj

— Green Stock News (@greenstocknews) January 31, 2025

Bitfarms Operates 12 Bitcoin Data Centers

Founded in 2017, Bitfarms operates 12 Bitcoin data centers
and has two more under development. The company also has hosting agreements
with two additional facilities. Its operations span Canada, the United States,
Paraguay, and Argentina. Bitfarms maintains a vertically integrated structure,
managing its electrical engineering, installation services, and on-site
technical repair centers.

Focusing on Sustainable Energy, Generating Steady Revenue

Bitfarms states that it relies primarily on hydroelectric
power and long-term energy contracts to support its operations. The company
sees these contracts as a foundation for stable revenue.

“The contracts associated with HPC/AI customers provide
long-term, steady cash flows and earnings streams while our Bitcoin mining
operations will continue to monetize Bitcoin’s flexible upside potential,
creating a powerful and resilient portfolio that will generate long-term value
for our shareholders,” Gagnon concluded.

Publicly listed Wall Street Bitcoin (BTC) miner Bitfarms
Ltd. (NASDAQ: BITF) has appointed two consulting firms, Appleby Strategy Group
(ASG) and World Wide Technology (WWT), to assess the feasibility of integrating
high-performance computing (HPC) and artificial intelligence (AI ) operations
into its infrastructure.

The consultants will evaluate all of Bitfarms’ North
American sites and provide recommendations for its global HPC and AI strategy.

Bitfarms Hires Consultants for HPC/AI Strategy

Ben Gagnon, Bitfarms CEO, Source: LinkedIn

“Bitfarms is committed to maximizing the utility and
value of our 1.2 GW North American portfolio. ASG and WWT will draw upon their
substantial expertise to evaluate our sites for HPC/AI.” Bitfarms CEO Ben
Gagnon commented.

In addition to the feasibility study, ASG and WWT will
develop sales and business expansion strategies for Bitfarms. They will also
assist in marketing the company’s facilities to potential customers looking for
data center solutions. The move comes as Bitcoin mining firms explore
diversification opportunities amid fluctuating market conditions and increasing
energy costs.

“Based on active discussions over the past several
months with potential HPC/AI partners and customers, we are confident that our
North American portfolio pipeline, particularly sites located on the PJM grid,
is strongly suited for HPC/AI,” Gagnon added.

Bitfarms Engages Strategic Partners to Develop HPC/AI Business – Green Stock News https://t.co/pLOpiVb3Rd $BITF #cleantech #blockchain pic.twitter.com/QQrp2I3rFj

— Green Stock News (@greenstocknews) January 31, 2025

Bitfarms Operates 12 Bitcoin Data Centers

Founded in 2017, Bitfarms operates 12 Bitcoin data centers
and has two more under development. The company also has hosting agreements
with two additional facilities. Its operations span Canada, the United States,
Paraguay, and Argentina. Bitfarms maintains a vertically integrated structure,
managing its electrical engineering, installation services, and on-site
technical repair centers.

Focusing on Sustainable Energy, Generating Steady Revenue

Bitfarms states that it relies primarily on hydroelectric
power and long-term energy contracts to support its operations. The company
sees these contracts as a foundation for stable revenue.

“The contracts associated with HPC/AI customers provide
long-term, steady cash flows and earnings streams while our Bitcoin mining
operations will continue to monetize Bitcoin’s flexible upside potential,
creating a powerful and resilient portfolio that will generate long-term value
for our shareholders,” Gagnon concluded.

Tareq Sikder

  • 1285 Articles
  • 18 Followers

A Forex technical analyst and writer who has been engaged in financial writing for 12 years.

  • 1285 Articles
  • 18 Followers

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Tareq Sikder

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football

Steelers Legends Agree Best Team Of 70s Dynasty Era Didn’t Even Win The Super Bowl

0
The Pittsburgh Steelers’ dynasty run is remembered for the Lombardi trophies brought home in 1974, 1975, 1978, and 1979. The first four championships in franchise history that turned the team from decades-long lovable losers into one of football’s greatest powerhouses. Talk to the media, and they’ll cite those squads as being the best. Talk to
Draft

2027 NFL Draft Prospect Interview: Bryan Pulley, CB, UNC Pembroke

0
2027 NFL Draft Prospect Interview: Bryan Pulley, CB, UNC Pembroke Name: Bryan Pulley Position: Cornerback College: Murray State But Now At UNC Pembrooke Height: 6’0 Weight: 190 Twitter: Bryanpull101 Instagram: B.pulleyyy What makes you a top prospect at your position in the 2027 NFL Draft?  I’m a elite cover corner with physicality  Tell me about
Announce

Saints announce year-long celebration to honor six decades of football in New Orleans

0
On Monday, July 27, the New Orleans Saints announced their plans to commemorate the team’s 60th season with a yearlong celebration honoring six decades of football while looking ahead to the future of the Black and Gold. The celebration will feature commemorative branding, exclusive merchandise, fan experiences, digital storytelling, community activations, and special tributes throughout
Elliss

Kaden Elliss could be the key to Brandon Staley’s Saints defense

0
As the New Orleans Saints prepare to open the 2026 season on the road against the Detroit Lions, much of the attention has centered on defensive coordinator Brandon Staley and how he’ll fill the void of Demario Davis. According to New Orleans Football Network’s Nick Underhill, one player could be more important to that transition

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Don't miss

football

Steelers Legends Agree Best Team Of 70s Dynasty Era Didn’t Even Win The Super Bowl

0
The Pittsburgh Steelers’ dynasty run is remembered for the Lombardi trophies brought home in 1974, 1975, 1978, and 1979. The first four championships in franchise history that turned the team from decades-long lovable losers into one of football’s greatest powerhouses. Talk to the media, and they’ll cite those squads as being the best. Talk to
Draft

2027 NFL Draft Prospect Interview: Bryan Pulley, CB, UNC Pembroke

0
2027 NFL Draft Prospect Interview: Bryan Pulley, CB, UNC Pembroke Name: Bryan Pulley Position: Cornerback College: Murray State But Now At UNC Pembrooke Height: 6’0 Weight: 190 Twitter: Bryanpull101 Instagram: B.pulleyyy What makes you a top prospect at your position in the 2027 NFL Draft?  I’m a elite cover corner with physicality  Tell me about
Announce

Saints announce year-long celebration to honor six decades of football in New Orleans

0
On Monday, July 27, the New Orleans Saints announced their plans to commemorate the team’s 60th season with a yearlong celebration honoring six decades of football while looking ahead to the future of the Black and Gold. The celebration will feature commemorative branding, exclusive merchandise, fan experiences, digital storytelling, community activations, and special tributes throughout
Elliss

Kaden Elliss could be the key to Brandon Staley’s Saints defense

0
As the New Orleans Saints prepare to open the 2026 season on the road against the Detroit Lions, much of the attention has centered on defensive coordinator Brandon Staley and how he’ll fill the void of Demario Davis. According to New Orleans Football Network’s Nick Underhill, one player could be more important to that transition
Entertainment

Nevada gives Kalshi until August 12 to exit market

0
Kalshi entered into a settlement with the Nevada Gaming Control Board. Kalshi will end offering its sports, election and entertainment market contracts to Nevada customers by August 12, 2026. If a delay happens, Kalshi will be required to pay $120,000 on a daily basis until the restrictions are enforced. Regulators have argued that they could
newsycanusehttps://newsycanuse.com

Want Your Business to Be Seen Everywhere? Meet Tonia Ryan, Creator of Fix Your Search

Some people are good at their jobs. Then there is Tonia Ryan, who has turned “getting found online” into something close to magic. She is the creator of Fix Your Search, and if you have ever wondered why some businesses pop up everywhere while others seem invisible...
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Grey Business processes $61 million as stablecoins dominate payments

Grey Business enables startups and SMEs to open US Dollar (USD) corporate accounts, send and receive international payments, convert currencies, and transact using stablecoins such as USDC and USDT...
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Utah Marketers to Host Free Business Networking Event in Layton on June 24

The custom web design company is hosting free monthly networking events for Northern Utah business leaders, with the next event scheduled for June 24 from 4 to 6 p.m. Utah Marketers is hosting a free local business networking event on June 24 from 4 to 6 p.m. at the company’s Layton office. The event is
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