Bitfarms Ltd., a cryptocurrency mining company, has announced its plans to acquire Stronghold Digital Mining, Inc. The proposed transaction is subject to approval from 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, operational challenges, and market conditions...Show More

Bitfarms Ltd., a cryptocurrency mining company, has announced its plans to acquire Stronghold Digital Mining, Inc. The proposed transaction is subject to approval from 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, operational challenges, and market conditions that could impact the transaction's completion and the anticipated benefits. Bitfarms will file a registration statement on Form F-4 with the SEC, which will include a proxy statement of Stronghold and a prospectus of Bitfarms. Shareholders of Stronghold will receive the proxy statement/prospectus after the registration statement becomes effective, providing them with important information about the merger.