​Bitfarms Ltd. (NASDAQ/TSX: BITF), a global Bitcoin mining and data center company, has completed its acquisition of Stronghold Digital Mining, Inc. (SDIG), significantly enhancing its U.S. operations.

This acquisition increases Bitfarms’ energy portfolio to 623 megawatts under management, adding 165 MW of active generating capacity and 142 MW of available import capacity.

It also secures a 1.1-gigawatt growth pipeline in Pennsylvania, positioning Bitfarms as a leading Bitcoin miner in the PJM market. ​

The integration of Stronghold’s assets aligns with Bitfarms’ strategy to expand its North American footprint and explore high-performance computing (HPC) and artificial intelligence (AI) opportunities.

The company plans to develop two power campuses totaling nearly one gigawatt for HPC and AI applications, leveraging strategic partnerships to prioritize these sites for potential conversion. ​

Bitfarms’ CEO, Ben Gagnon, expressed enthusiasm about the acquisition, stating that it marks the beginning of an exciting new chapter for the company.

He highlighted that the combined assets provide a strong foundation for executing Bitfarms’ U.S. strategy and developing scalable HPC/AI businesses. ​

The transaction was structured as a stock-for-stock merger, with Stronghold shareholders receiving 2.52 shares of Bitfarms for each Stronghold share.

Approximately 59.7 million Bitfarms common shares and 10.6 million warrants were issued, and $44.5 million was paid to retire Stronghold’s outstanding loans. Following the merger, Stronghold’s common stock ceased trading on Nasdaq

^{BitcoinVersus.Tech Editor’s Note:}

^{We volunteer daily to ensure the credibility of the information on this platform is Verifiably True. If you would like to support to help further secure the integrity of our research initiatives, please donate here}

BitcoinVersus.tech is not a financial advisor. This media platform reports on financial subjects purely for informational purposes.