Bitfarms to Acquire Stronghold Digital Mining
August 21, 2024
Bitfarms Ltd. will acquire Stronghold Digital Mining in a stock-for-stock merger valued at approximately US$125 million of equity consideration plus assumption of about US$50 million of debt. The deal, unanimously approved by both boards and expected to close in Q1 2025 subject to approvals, expands Bitfarms' energy portfolio and hashrate while adding Stronghold's Pennsylvania power plants, land holdings and environmental remediation capabilities.
- Buyers
- Bitfarms Ltd.
- Targets
- Stronghold Digital Mining, Inc.
- Industry
- Energy
- Location
- Pennsylvania, United States
- Transaction Type
- Buyout
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