In a significant move on March 17, 2025, Bitfarms Ltd., a leading player in the Bitcoin mining industry, successfully completed its acquisition of Stronghold Digital Mining, Inc. This strategic acquisition not only enhances Bitfarms’ position in the cryptocurrency market but also expands its energy portfolio to a remarkable 623 Megawatts Under Management (MWuM). The deal is expected to strengthen Bitfarms’ role as the top Bitcoin miner in the PJM market.
Boosting Energy Capacity
The completion of this acquisition has done wonders for Bitfarms’ energy capabilities. With this new addition, Bitfarms can now boast:
- 165 MW of active generating capacity
- 142 MW of import capacity immediately ready for use
- Access to a growth pipeline of 1.1 Gigawatts in Pennsylvania
This incredible increase in energy capacity places Bitfarms in a prime position to tackle the increasing demand for Bitcoin mining and aims to expand into High-Performance Computing (HPC) and Artificial Intelligence (AI).
Strategic Expansion in the U.S.
One of the most exciting aspects of this acquisition is the shift in Bitfarms’ energy portfolio. The company is rebalancing its assets, ensuring that 80% of its energy comes from North America while maintaining 20% from international sources. This shift is essential for managing the rising energy demands of cryptocurrency mining and technological advancements.
As Bitfarms steps up its game in North America, it’s also keeping an eye on the fast-growing HPC and AI sectors. The company is looking to convert specific sites from Stronghold for these high-tech innovations, indicating a thoughtful approach to its expansion.
Growing Exahash Under Management
Another noteworthy impact of the Stronghold acquisition is the boost to Bitfarms’ Exahash Under Management (EHuM). With the purchase, Bitfarms is adding nearly 1 EHuM, bringing the total to an impressive 18 EHuM. This increase significantly strengthens their mining capacity, ensuring they can meet the demands of an ever-growing Bitcoin market.
The rise in EHuM is crucial as it directly correlates with the company’s ability to process Bitcoin transactions efficiently, which ultimately contributes to their revenue and market share.
Transaction Highlights
This acquisition was valued at approximately $125 million, marking a huge milestone for Bitfarms. Stronghold shareholders were offered 2.52 Bitfarms shares for each Stronghold share in a strategic stock exchange that signals confidence in Bitfarms’ future.
Post-acquisition, Stronghold no longer operates as an independent company—it is now fully part of the Bitfarms family. This change reflects Bitfarms’ commitment to increasing its market share in the U.S. and solidifying its presence within the PJM energy region.
Looking Ahead: The Future of Bitfarms
As the Bitcoin market continues to evolve, Bitfarms is positioning itself at the forefront of these changes. With a greater capacity for energy management and a major growth pipeline secured in Pennsylvania, the company is ready to take on the future of cryptocurrency, HPC, and AI. This acquisition represents a significant leap forward, and it will be exciting to watch how Bitfarms utilizes these new resources to thrive in the competitive digital economy.
About Bitfarms Ltd.
Founded as a leading cryptocurrency mining company, Bitfarms focuses on creating a sustainable model for Bitcoin mining. By investing heavily in energy efficiency and capacity, Bitfarms aims to lead the industry in responsible mining practices.