After reiterating that Riot Platforms’ takeover proposal was not in the best interests of its shareholders, Bitcoin miner Bitfarms announced that it had reached an agreement to develop its first large-scale mining site in Pennsylvania, USA, which will increase the miner’s overall power supply capabilities and is expected to enable Bitfarms to increase its power capacity to 648 MW in 2025, a 170% increase from current capacity and a 47% increase from its target capacity by the end of 2024. “The site is capable of supporting 8 EH/s, and combined with our recent acquisition of another 100 MW in Paraguay, we expect to exceed 35 EH/s in 2025,” the company said.