The announcement comes just weeks after Bitfarms (Nasdaq: BITF) secured 150 MW of hydropower contracts in Paraguay. According to Bitfarms CEO Geoff Morphy, the company chose Paraguay for expansion due to low building costs and fast construction timelines. “Achieving high operating efficiencies while minimizing capex is an overarching goal in our global growth strategy heading into next year’s halving,” said Morphy. “Based on our experience in the jurisdiction, Paraguay affords both low building costs and fast time to completion.”