TechFlow reported on March 17 that, according to Crypto In America, Toronto-based Bitcoin mining company Bitfarms announced the successful completion of its acquisition of New York-based mining firm Stronghold Digital Mining. Valued at over $110 million at the time of the transaction, this all-stock deal marks the largest merger between two publicly traded Bitcoin mining companies.
The acquisition was initially announced last August and took three years to finalize. With this transaction, Bitfarms will significantly strengthen its presence in the U.S. energy market, particularly within PJM Interconnection—the nation's largest wholesale electricity market. Following the integration of Stronghold's assets, Bitfarms expects to increase its North American energy portfolio from approximately 6% to 80% by the end of this year.
