• The Canada-based Bitcoin mining firm has closed its acquisition of its crypto platform base.
• Bitfarms CEO Ben Gagnon commented on the bottom transaction in an interview with CNBC.
• BitFarms targets BTC mining as its core enterprise.

Bitfarms, a Canada-based Bitcoin mining firm, is Stronghold Digital Mining, Inc. has accomplished the acquisition of

The Bitfarms crew confirmed the closure of all inventory buying and selling through X. Within the announcement, Bitfarms famous that the acquisition marks the “largest public-to-public” deal within the historical past of crypto mining.

“We’re proud to announce the success of our acquisition of Stronghold Digital (SDIG),” posted Bitfarms. “This milestone will considerably develop our US footprint, strengthen our place within the extremely engaging PJM market and strengthen our management in digital asset infrastructure.”

BitFarms expands footprint

Stronghold launches a brand new period of BitFarms and the broader ecosystem. It is a contract for this step the place BTC miners discover different alternatives throughout synthetic intelligence (AI). Miners additionally purpose to develop capabilities inside the crypto infrastructure house.

Bitfarms CEO Ben Gagnon additionally commented on the Stronghold deal in an interview with CNBC on March 17, 2025.

In accordance with Gagnon, the $110 million acquisition, first introduced in August 2024, is a major transaction for the corporate.

Integrating base belongings into Bitfarms operations not solely will increase the vitality capabilities of BTC miners, but in addition enhances the footprint within the US.

“The completion of this strategic acquisition will additional develop our US footprint and grow to be an trade chief within the PJM market. Mixed with Stronghold’s portfolio of energy belongings and the energy of our operational experience and stability sheet, we’re effectively positioned to create long-term worth for our shareholders,” Gagnon stated.

BitFarms can be contemplating making income by increasing into AI and increasing into high-performance computing (HPC), however Gagnon says BTC mining stays its core enterprise.

That is regardless of the market situations the place miners have seen them promote their belongings.

“Whereas our core enterprise stays Bitcoin mining, we consider there may be nice potential in leveraging HPC and AI infrastructure, particularly with energy belongings acquired from our places,” he stated.

All shares buying and selling might be closed

As a part of the transaction, the bottom shareholders obtained 2.52 Bit Farm shares for every base share held. The settlement additionally included a retirement from the bottom retirement advantages of roughly $44.5 million.

The acquisition’s completion follows months of strategic manipulation in 2024, together with BitFarm, which dodged hostile buyback bids from the riot platform. As soon as the transaction is accomplished, BitFarm is poised to develop its infrastructure and market place. The purpose is to offer long-term worth to shareholders.

Bitfarms stated it has gained 213 BTC from the mining trade, a 6% enhance per thirty days. In the meantime, the operational hashrate was 16.1 EH/s, a 6% spike in February. In the meantime, the corporate owned 1,260 BTC within the Ministry of Finance.