TORONTO & BROSSARD, Québec–(BUSINESS WIRE)–Bitfarms Ltd. (“Bitfarms”, or the “Company”) (TSXV:BITF) is pleased to announce that it has entered into an equipment lease with BlockFills for 1,000 WhatsMiner M31S miners to be delivered and installed by the end of November 2020. The 1,000 new Miners are in addition to the non-binding Letter of Intent (“LOI”) with Blockfills, announced on September 21, 2020, to lease approximately 7,000 new generation miners with a cost of US$12 to $15 million. As previously reported, the equipment covered by the LOI represents approximately 800 to 840 petahash per second (“PH”) of new computing capacity to be added to the Company’s operations by the end of 2020.
New Equipment Lease
On October 8, 2020, the Company entered an equipment lease with BlockFills, for an additional 1,000 WhatsMiner M31S miners for a term of 24 months carrying an