Bitfarms Ltd., a prominent Bitcoin mining company, has announced plans to invest nearly $240 million in upgrading its mining equipment, gearing up for the upcoming Bitcoin halving in 2024. This strategic move aims to ensure the company’s profitability amid the impending reduction in block rewards.

Bitfarms Ltd. Plans Massive Expansions

The company’s preparation for the Bitcoin halving is centered around enhancing performance and profitability. Bitfarms has already made significant investments in its mining fleet, having previously acquired 35,888 of Bitmain’s Bitcoin Miner T21. Additionally, the company has exercised a purchase option for an additional 28,000 T21 miners and made…

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