Bitfarms announced that it has entered into a definitive merger agreement with Stronghold Digital Mining, which is expected to close in Quarter 1, 2025. Under the agreement, Bitfarms will acquire Stronghold through a share-for-share merger transaction. Each Stronghold share held by Stronghold shareholders will receive 2.52 Bitfarms shares at a consideration of $6.02 per share. The equity value of the transaction is approximately $125 million, plus the debt assumed is valued at approximately $50 million. The transaction is likely to add 307 trillion watts of power capacity and is expected to increase Bitfarms' energy portfolio to more than 950 trillion watts by the end of 2025. Previously, according to Bloomberg, citing people familiar with the matter, bitcoin mining company Bitfarms is in talks to acquire Stronghold Digital Mining for about $164 million, while resisting the acquisition attempt of Riot Platforms.