This works, but it is pretty inefficient. Even with this design you can eliminate the double row of beacons in the middle and replace it by a single one
Generally it is better to space the beacons as far apart from the furnaces as possible. That leaves two tiles between the furnace and the beacon. Enough for a belt and an inserter. That cuts the required number of furnaces almost in half because you can have more beacons per furnace. With 8 beacons per furnace it's 13 furnaces for a blue belt of iron or copper.
Though it's necessary to use some tricks to always achieve reliable compression (for example sideloading)