What happened
Bitfarms Ltd. initiated a two-year strategic pivot from Bitcoin mining to AI data centre operations, repurposing existing infrastructure. The company will convert its 18-megawatt Washington state facility into a liquid-cooled GPU centre, designed for Nvidia GB300 GPUs, with completion by December 2026. This 18 MW gross capacity project is supported by a US$128 million fully funded, binding agreement with a multinational provider supplying critical IT equipment and building materials, targeting a Power Usage Effectiveness (PUE) of 1.2-1.3 and rack power up to 190 kW.
Why it matters
This strategic shift introduces significant operational constraints for facilities and engineering teams, requiring the management of high-density, liquid-cooled GPU infrastructure with stringent Power Usage Effectiveness targets between 1.2 and 1.3 and rack power up to 190 kW. The reliance on a single multinational provider for critical IT equipment and building materials for the initial 18 MW capacity tightens supply chain dependencies, increasing exposure for procurement to potential vendor lock-in or delivery delays. This also raises due diligence requirements for operations regarding the maintenance and security of specialised AI compute environments.
