Bitfarms Ltd., a cryptocurrency mining company, has announced its plans to acquire Stronghold Digital Mining, Inc. The proposed transaction, which is subject to shareholder and regulatory approvals, is expected to close on a timely basis with terms as announced. The merger aims to enhance Bitfarms' electrical power access and grow Stronghold's hashrate, with a target to reach 10 EH/s in 2025 and expand Bitfarms' energy portfolio to 950 MW by year-end 2025. The company also plans a multi-year expansion to 1.6 GW. Bitfarms anticipates leveraging its expertise to improve energy efficiency and hashrate, with potential environmental benefits including carbon capture. The forward-looking statements in the announcement are based on management's expectations and are subject to risks and uncertainties that...Show More

Bitfarms Ltd., a cryptocurrency mining company, has announced its plans to acquire Stronghold Digital Mining, Inc. The proposed transaction, which is subject to shareholder and regulatory approvals, is expected to close on a timely basis with terms as announced. The merger aims to enhance Bitfarms' electrical power access and grow Stronghold's hashrate, with a target to reach 10 EH/s in 2025 and expand Bitfarms' energy portfolio to 950 MW by year-end 2025. The company also plans a multi-year expansion to 1.6 GW. Bitfarms anticipates leveraging its expertise to improve energy efficiency and hashrate, with potential environmental benefits including carbon capture. The forward-looking statements in the announcement are based on management's expectations and are subject to risks and uncertainties that could cause actual results to differ materially. The merger is detailed in a Form F-4 registration statement, including a proxy statement/prospectus, to be filed with the SEC. Shareholders of Stronghold will receive the proxy statement/prospectus after the registration statement becomes effective. The communication is not an offer to sell securities and is intended for informational purposes regarding the merger.