Send PM
Followers 22
Posts 1712
Boards Moderated 0
Alias Born 07/09/2005

Re: MallenNV post# 1349

Thursday, 11/18/2021 11:41:56 AM

Thursday, November 18, 2021 11:41:56 AM

Post# of 1381
Bitfarms Ltd. (NASDAQ: BITF) (TSX.V: BITF) CEO Emiliano Grodzki: "Bitcoin Miner Consolidation Is Coming - We're Shopping for Acquisitions"

"...Today, we have a combined total of 10 farms in operation and development, with planed capacity of 404 megawatts and 48,000 miners slated for delivery in 2022. With our strengthened balance sheet and flexible capital plan, we are well positioned to reach our targeted exahash rate of 3 by March 31, 2022, and 8 by December 31, 2022....We've been actively looking at opportunities to buy companies and assets going back to last December. We only closed one of those transactions, and that was Washington for 24 megawatts. In terms of size, we wouldn't be interested in looking at anything less than 10 to 20 megawatts of size, because that's about the size that makes sense to make it worthwhile for us. We certainly are more attracted to the bigger opportunities where there's scale..."

"...We've seen quite a few private company opportunities with mid-sized companies, but they don't really have a distinctive advantage in terms of electricity contracts, and their miners have been getting old. They don't have access to capital, they can't upgrade their fleet and as a result, without an attractive electricity contract and an aging fleet. It's not very attractive to us. But if there's an opportunity that comes around, whether it's private or public, where there is a good electricity contract, half decent team and a good layout, we'd be very interested in taking a look...And I expect we'll continue to see opportunities, the lifecycle hypothesis suggests that there will be a consolidation in this industry coming. I think we're just starting to see parts of it now. So our eyes are open. And because of our team and our expertise and deploying new facilities, I think we're an attractive partner for anybody that wants to come to us, particularly given our growing international expertise..."

Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
Recent BITF News

FEATURED Electromedical Update: Strong Q3 Sales Momentum, New Financing , Improved Supply Chain, Expanding Product Development and Production. Oct 6, 2022 7:21 AM

Enerkon Solar International announces Change of Control and name Change to New Technology Acquisition Holdings, Inc. (OTC: NTAC) NTAC Oct 6, 2022 2:20 PM

Green Battery Minerals Completes 2nd Drilling Program At Zone 6 Of The Berkwood Graphite Project GBMIF Oct 6, 2022 1:19 PM

Progressive Care Subsidiary ClearMetrX Launches 340MetrX Platform to Help Streamline 340B Program and Increase Claim Capture RXMD Oct 6, 2022 8:20 AM

Laser Photonics Highlights Key Investment Points for New Investors LASE Oct 6, 2022 7:05 AM

Nextech AR Reports Q3 3D-Model Production Jumps 110% and Sees Strong Continued Demand in Q4 NTAR Oct 5, 2022 10:00 AM

Memorandum of Understanding Signed by Miranda Water Treatment Systems and Rainmaker Worldwide Inc. RAKR Oct 5, 2022 9:02 AM

Trend Innovations Holding Inc. completes Thy News localization testing successfully TREN Oct 5, 2022 9:00 AM

Branded Legacy, Inc. Acquires Alpha Growers, LLC and Adds $320,000 in Assets BLEG Oct 5, 2022 8:45 AM

Glitzy LA luxury private cigar club planned for two blocks from the Walt Disney Concert Hall Oct 4, 2022 6:15 PM

'Posh' brand funding round for all things cannabis kicks off with S.E.C. enrollment for capital raise Oct 4, 2022 5:38 PM

NFL Great, Drew Brees, to Team with Splash Beverage Corp to Promote TapouT Performance Drink SBEV Oct 4, 2022 12:34 PM

Good Gaming Inc. Announces Its Reveal Event For The Water Bear PFP, The First of Ten Species That Make Up The Genesis Collections And Their Cross Platform "Buddyverse" GMER Oct 4, 2022 9:15 AM

Quinting - a luxury Swiss watch brand partners Coinllectibles to launch Digital Ownership Tokens (DOTs) valued at more than US$450,000 at the Global Web 5.0 Conference in Singapore on 1 Nov 2022 COSG Oct 4, 2022 8:03 AM

Swifty Global Gets Swifty Gaming Off to a Flying Start and Updates its Annual Revenue Target DRCR Oct 3, 2022 10:29 AM