Bitfarms, a well-known Bitcoin mining company, has finalized the acquisition of Stronghold Digital Mining firm through a stock-for-stock merger. As announced, this deal will help Bitfarms grow its presence in the United States and strengthen its mining operations. Bitfarms Now Owns Stronghold Digital As part of the merger, Stronghold shareholders received 2.52 shares of Bitfarms for each share of Stronghold they owned. This means Stronghold is now completely owned by Bitfarms. Bitfarms also issued about 59,678,164 common shares and 10,574,848 warrants to complete the merger. Notably, Bitfarms paid $44.5 million to settle Stronghold’s outstanding loans as part of the merger. This payment cleared the financial issues for the newly merged company. Additionally, Bitfarms is set to grow, utilizing its new resources and infrastructure to drive future success in the digital asset mining industry. Bitfarms’ move is noteworthy as it recently announced its plans to reuse some of the company’s facilities as AI data centers. This will leverage the increasing demand for high-performance AI services and computing. Bitfarms Complete its 200 MW Facility Sale Additionally, Bitfarms has taken a big step in its growth by selling its 200 MW facility in Paraguay to HIVE Digital Technologies for $56 million. This sale allows Bitfarms to focus on its main operations while gaining funds to improve its U.S. operations. Meanwhile, selling the Yguazu facility is also important for HIVE Digital . With the acquisition, HIVE plans to reach a performance level of 25 EH/s by September 2025. HIVE Digital is increasing its cryptocurrency mining capacity by over 400%. The company currently operates at 6 EH/s, but when the new Yguazu facility is finished, it will gain an additional 300 MW of power. This acquisition will greatly increase HIVE’s global mining capacity to 430 MW by the third quarter of 2025, including what the company already has. Bitfarms-Riot Agreement and Future Outlook Recall that Bitfarms recently reached an agreement with Riot Platforms . As part of the deal, Bitfarms would stand at a standstill until 2026, while Riot has the right to buy more BITF shares. The goal is to hold at least 15% ownership of the company. However, Riot cannot acquire more than 20% of Bitfarms shares without express approval from the board. That conditionality prevents Riot’s hostile takeover . The overall goal is to enhance the firm’s productivity as a major player in the Bitcoin mining sector. Other rivals are also positioned to take advantage of new trends in the industry. The post Bitfarms Finalizes Stronghold Digital Acquisition appeared first on TheCoinrise.com .
