Bitfarms to acquire Stronghold Digital Mining for $175m.

Bitfarms, a global vertically integrated Bitcoin data center company, agreed to acquire Stronghold Digital Mining, a vertically integrated crypto asset mining company focused on mining Bitcoin and environmental remediation and reclamation services, for $175m. “After three years of ongoing discussions, I am proud to announce this transformative acquisition, which is a decisive step in securing a strong future for Bitfarms. With this transaction, we expect to expand and rebalance our energy portfolio to 950MW with nearly 50% in the US by the end of 2025 and have visibility on multi-year expansion capacity up to 1.6GW with approximately 66% in the US, up from approximately 6% today. By vertically integrating with power generation, expanding our energy trading capabilities and securing two high potential sites for HPC/AI with significant multi-year expansion potential, we are executing our strategy to diversify beyond Bitcoin mining to create greater long-term shareholder value,” Ben Gagnon, Bitfarms CEO.