Bitfarms Amplifies Blockchain Dominance with Strategic Acquisition of Stronghold Digital

Bitfarms, a leader in the blockchain mining sector, announced on August 21 a definitive agreement to acquire Stronghold Digital Mining. This transaction, valued at $175 million, combines stock worth $125 million and debt totaling $50 million. The acquisition is set to be finalized in the first quarter of 2025, pending regulatory approval and shareholder consent. The deal signifies a pivotal move for Bitfarms as it aims to bolster its mining capabilities and enhance its infrastructure. Stronghold Digital currently boasts a hash rate of 4.0 EH/s with potential upgrades forecasted to push this figure beyond 10 EH/s by 2025. 

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