07:55 AM EDT, 04/12/2024 (MT Newswires) -- Bitfarms Ltd. ( BITF ) , a Bitcoin miner, was at last look down 1.6% in US premarket trade Friday after saying that it has completed its first two farm upgrades with more than 5,000 Bitmain T21 miners installed and operating in Quebec.

The company said it installed 3,168 T21s at Garlock, and 1,710 T21s and 100 M53S+ hydro miners at Farnham. It has reaches 7 EH/S with the completion. Corporate energy efficiency improved 9% To 31 W/TH.

In the second quarter, more than 30,000 additional T21s are scheduled to be delivered to the company's existing locations, including its latest development in Paso Pe, Paraguay.

"Our Bitmain miner installations kickstart our transformative fleet upgrade and have improved energy efficiency by approximately 51% at both our Garlock and Farnham farms," said Geoff Morphy, President and CEO of Bitfarms ( BITF ).