Bitfarms Ltd., a cryptocurrency mining company, has announced its intention to acquire Stronghold Digital Mining, Inc. The proposed transaction is subject to the approval of Stronghold's shareholders and regulatory bodies, including the Toronto Stock Exchange. The merger aims to enhance Bitfarms' electrical power access, increase its hashrate, and expand its energy portfolio to 950 MW by the end of 2025, with a long-term goal of reaching 1.6 GW. The company also plans to integrate high-performance computing and artificial intelligence with Bitcoin mining operations. The forward-looking statements in the announcement highlight the potential benefits of the merger, such as improved energy efficiency, environmental benefits, and operational synergies. However, the communication also acknowledges risks, including regulatory approvals, the performance of plants...Show More

Bitfarms Ltd., a cryptocurrency mining company, has announced its intention to acquire Stronghold Digital Mining, Inc. The proposed transaction is subject to the approval of Stronghold's shareholders and regulatory bodies, including the Toronto Stock Exchange. The merger aims to enhance Bitfarms' electrical power access, increase its hashrate, and expand its energy portfolio to 950 MW by the end of 2025, with a long-term goal of reaching 1.6 GW. The company also plans to integrate high-performance computing and artificial intelligence with Bitcoin mining operations. The forward-looking statements in the announcement highlight the potential benefits of the merger, such as improved energy efficiency, environmental benefits, and operational synergies. However, the communication also acknowledges risks, including regulatory approvals, the performance of plants and equipment post-merger, and the volatility of digital currency markets. Bitfarms will file a registration statement on Form F-4 with the SEC, which will include a proxy statement of Stronghold that also constitutes a prospectus of Bitfarms. Shareholders of Stronghold will receive the proxy statement/prospectus once the registration statement is effective. The announcement clarifies that this communication is not an offer to sell securities and that the merger is subject to various conditions and approvals.