Bitfarms Finalizes Stronghold Digital Mining Acquisition, Expanding BTC Operations
Bitfarms has completed its acquisition of Stronghold Digital Mining, expanding its U.S. operations and energy capabilities.
The deal increases Bitfarms’ energy portfolio to 623 megawatts under management and secures a 1.1-gigawatt growth pipeline in Pennsylvania. This expansion is expected to lower electricity costs through PJM demand response programs while rebalancing Bitfarms’ portfolio to 80% North American and 20% international by 2025.
The acquisition also boosts Bitfarms’ mining power to 18 EH/s and integrates Stronghold’s hosting agreements into its self-mining operations. Additionally, Bitfarms plans to develop nearly one gigawatt of power capacity for HPC/AI projects with strategic partners. The stock-for-stock merger involved issuing 59.7 million Bitfarms shares and $44.5 million to retire Stronghold’s loans, marking a major step in Bitfarms’ expansion and AI-driven initiatives.
Clever Robot News Desk 18th March 2025
