Bitcoin Miner Bitfarms Boosts Capacity to 623MW

Bitfarms Completes Acquisition of Stronghold Digital Mining

• Bitfarms acquired Stronghold Digital Mining, securing a 1.1 GW growth pipeline in Pennsylvania.
• The acquisition increased Bitfarms’ energy portfolio to 623 Megawatts Under Management.
• Stronghold shareholders received 2.52 Bitfarms shares for each Stronghold share owned.
• Stronghold ceased to exist as an independent company, becoming a wholly-owned subsidiary of Bitfarms.
• The deal included approximately $50 million of assumed debt and was valued at around $125 million.

Bitfarms has expanded its energy portfolio to 623 MW by acquiring Stronghold Digital Mining, which added a significant growth pipeline in Pennsylvania. This strategic move supports Bitfarms’ focus on enhancing its presence in the U.S. market.