🌟 Major Bitcoin Mining Merger: Bitfarms and Stronghold Digital Mining Reach Agreement!
🔗 Transaction details:
Method of merger: Bitfarms will acquire Stronghold Digital Mining through a stock-for-stock merger transaction. Consideration: Stronghold shareholders will receive 2.52 Bitfarms shares for each share, with a consideration of US$6.02 per share. Transaction value: equity value of approximately US$125 million, plus debt assumed of approximately US$5,000. US$10,000 of power capacity: 307 MW expected to be added, increasing Bitfarms energy portfolio to over 950 MW by the end of 2025
📅 Estimated completion time: first quarter of 2025
🗞️ Background information: Bitfarms was previously in talks to acquire Stronghold for approximately $164 million and was fending off an acquisition attempt by Riot Platforms. The deal could significantly enhance Bitfarms’ market position and power resources.
