Bitfarms Ltd. has made a significant move in the world of Bitcoin mining by completing its acquisition of Stronghold Digital Mining on March 17, 2025. This exciting development not only enhances Bitfarms’ operational capabilities but also secures its position as the leading Bitcoin miner in the PJM market. With this acquisition, the company aims to significantly increase its influence in the U.S. digital currency landscape.
Stronghold Digital Mining Acquisition Completed
The acquisition of Stronghold Digital Mining is a game-changer for Bitfarms. By combining forces, Bitfarms can bolster its energy portfolio to an impressive 623 Megawatts Under Management (MWuM). This includes 165 MW of active generating capacity and another 142 MW of electricity that can be quickly brought online. With this new power, Bitfarms plans to utilize its resources not only for Bitcoin mining but also for high-performance computing and artificial intelligence (HPC/AI) purposes.
Strategic Growth in Pennsylvania
One of the standout aspects of this acquisition is the unveiling of a substantial growth pipeline in Pennsylvania. Bitfarms now has a pipeline of 1.1 GW (gigawatts) tailored specifically for the demands of Bitcoin mining and HPC/AI applications. This prime location is perfect for future expansion, as Pennsylvania is becoming a key player in the energy sector.
U.S. Portfolio Expansion
Another significant achievement from this acquisition is how Bitfarms is rebalancing its energy portfolio. Following this merger, about 80% of Bitfarms’ energy resources will be focused in North America, with just 20% dedicated to international operations. This strategic shift positions Bitfarms to adapt more readily to market changes and energy demands in the area.
Boosting Exahash Under Management
For those new to the terminology, Exahash Under Management (EHuM) refers to the total power Bitfarms can use for Bitcoin mining. With Stronghold’s acquisition, Bitfarms adds nearly 1 Exahash Under Management to its total capacity, bringing it to 18 EHuM. More computing power means more Bitcoin mining and, ultimately, the potential for higher profits!
Transaction Details and Financial Considerations
In a strategic financial move, Stronghold shareholders received 2.52 Bitfarms shares for each Stronghold share they owned. Additionally, Bitfarms has committed to paying around $44.5 million to retire some of Stronghold’s outstanding loans, which helps streamline operations and consolidate leadership in the U.S. digital mining sector.
A Bright Future for Bitfarms
Overall, the acquisition of Stronghold Digital Mining marks a pivotal moment for Bitfarms. By expanding its energy capabilities and enhancing its technological resources, Bitfarms is positioning itself as a dominant force in U.S. Bitcoin mining. As the company moves forward, it will be interesting to see how the market responds to these strategic developments and the impact on their ongoing projects in this rapidly evolving industry.
