Bitcoin mining firm Bitfarms completed the acquisition
of Stronghold Digital Mining. The deal is expected to increase the company's
energy capacity and positions.
According to the announcement, the acquisition also
strengthens Bitfarms' efforts to integrate artificial intelligence (AI)
computing alongside Bitcoin mining.
"The completion of this strategic acquisition further expands our U.S. footprint and makes us the industry leader in the PJM market. Our combined PJM pipeline, spanning three sites in Pennsylvania, totals over 1 GW with strategically located land, power, and fiber that is well-suited for both HPC/AI and Bitcoin
Bitcoin
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term mining," commented Ben Gagnon, the Chief Executive Officer of Bitfarms.
Today, Bitfarms has closed the largest public-to-public acquisition in the industry's history.
We are proud to announce the successful acquisition of Stronghold Digital (SDIG). This milestone significantly expands our U.S. footprint, strengthens our position in the highly…
— Bitfarms (@Bitfarms_io) March 17, 2025
Boosting Energy Capacity and Mining Operations
With the Stronghold acquisition, Bitfarms' energy
portfolio reportedly grows to 623 megawatts under management (MWuM). This includes 165 MW
of active generation capacity and an additional 142 MW of immediately available
import capacity.
The deal also secures a 1.1-gigawatt growth pipeline
in Pennsylvania, giving Bitfarms significant power infrastructure to support
both Bitcoin mining and AI-driven computing. At the time of this publication, Bitcoin price was $83k on CoinMarketCap, representing a 6% boost in the past week.
According to the company, Bitfarms' acquisition aligns
with its broader goal of expanding in North America. The company now holds 80%
of its energy portfolio in North America, with the remaining 20% spread
internationally.
Additionally, Bitfarms has identified opportunities to
develop two power campuses totaling nearly one gigawatt for AI and
high-performance computing (HPC). Strategic partners, including WWT and ASG,
are prioritizing Stronghold's sites for potential AI-related conversions.
Strengthening Mining Capabilities
Bitfarms adds nearly 1 Exahash Under Management (EHuM)
through existing hosting agreements with Canaan, featuring a 50% profit split. This brings Bitfarms' total EHuM to 18, further
enhancing its self-mining capabilities. The previously announced Stronghold
hosting agreements have reportedly transitioned into Bitfarms' self-mining operations.
The acquisition
Acquisition
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term was structured as a stock-for-stock
merger, with Stronghold shareholders receiving 2.52 shares of Bitfarms for each
share they owned. In total, approximately 59.7 million Bitfarms common shares
and 10.6 million warrants were issued as part of the transaction.
Additionally, Bitfarms reportedly paid approximately
$44.5 million at closing to settle Stronghold's outstanding loans. As a result
of the merger, Stronghold's stock ceased trading on Nasdaq before the market
opened today.
Bitfarms' acquisition of Stronghold Digital Mining
marks a turning point in its U.S. strategy. The expanded energy portfolio and
increased mining capacity provide a strong foundation for growth, particularly
in AI and HPC applications.
Bitcoin mining firm Bitfarms completed the acquisition
of Stronghold Digital Mining. The deal is expected to increase the company's
energy capacity and positions.
According to the announcement, the acquisition also
strengthens Bitfarms' efforts to integrate artificial intelligence (AI)
computing alongside Bitcoin mining.
"The completion of this strategic acquisition further expands our U.S. footprint and makes us the industry leader in the PJM market. Our combined PJM pipeline, spanning three sites in Pennsylvania, totals over 1 GW with strategically located land, power, and fiber that is well-suited for both HPC/AI and Bitcoin
Bitcoin
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term mining," commented Ben Gagnon, the Chief Executive Officer of Bitfarms.
Today, Bitfarms has closed the largest public-to-public acquisition in the industry's history.
We are proud to announce the successful acquisition of Stronghold Digital (SDIG). This milestone significantly expands our U.S. footprint, strengthens our position in the highly…
— Bitfarms (@Bitfarms_io) March 17, 2025
Boosting Energy Capacity and Mining Operations
With the Stronghold acquisition, Bitfarms' energy
portfolio reportedly grows to 623 megawatts under management (MWuM). This includes 165 MW
of active generation capacity and an additional 142 MW of immediately available
import capacity.
The deal also secures a 1.1-gigawatt growth pipeline
in Pennsylvania, giving Bitfarms significant power infrastructure to support
both Bitcoin mining and AI-driven computing. At the time of this publication, Bitcoin price was $83k on CoinMarketCap, representing a 6% boost in the past week.
According to the company, Bitfarms' acquisition aligns
with its broader goal of expanding in North America. The company now holds 80%
of its energy portfolio in North America, with the remaining 20% spread
internationally.
Additionally, Bitfarms has identified opportunities to
develop two power campuses totaling nearly one gigawatt for AI and
high-performance computing (HPC). Strategic partners, including WWT and ASG,
are prioritizing Stronghold's sites for potential AI-related conversions.
Strengthening Mining Capabilities
Bitfarms adds nearly 1 Exahash Under Management (EHuM)
through existing hosting agreements with Canaan, featuring a 50% profit split. This brings Bitfarms' total EHuM to 18, further
enhancing its self-mining capabilities. The previously announced Stronghold
hosting agreements have reportedly transitioned into Bitfarms' self-mining operations.
The acquisition
Acquisition
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term was structured as a stock-for-stock
merger, with Stronghold shareholders receiving 2.52 shares of Bitfarms for each
share they owned. In total, approximately 59.7 million Bitfarms common shares
and 10.6 million warrants were issued as part of the transaction.
Additionally, Bitfarms reportedly paid approximately
$44.5 million at closing to settle Stronghold's outstanding loans. As a result
of the merger, Stronghold's stock ceased trading on Nasdaq before the market
opened today.
Bitfarms' acquisition of Stronghold Digital Mining
marks a turning point in its U.S. strategy. The expanded energy portfolio and
increased mining capacity provide a strong foundation for growth, particularly
in AI and HPC applications.
