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Stock impact report

Crypto company makes big bet that could revolutionize industry: 'Locking in' [Yahoo! Finance]

Bitfarms Ltd. (BITF) 
Company Research Source: Yahoo! Finance
Bitfarms is a vertically integrated bitcoin mining operation that also builds energy infrastructure and data centers, according to Finimize . The company has developed the capacity for hundreds of megawatts of hydroelectricity — which accounts for much of the company's total energy supply. Hydroelectricity is generated when a system of turbines and generators converts the natural movement of water into energy. This form of clean energy is responsible for far less pollution than fossil fuels such as coal and gas. It also has associated benefits, including flood control, irrigation support, and water supply, according to the Energy Department. By locking in rates with utility companies for significant amounts of hydropower, Bitfarms has made its electricity costs more stable. The crypto company gets ahead of its competition by establishing diverse locations and "controlling both energy supply and mining, and locking in long-term power contracts to tamp down wild swings in electrici Show less Read more
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