Bitfarms completes all-stock acquisition of Stronghold Digital Mining, with a transaction value of over $110 million

ChainCatcher news, according to Crypto In America, Canadian Bitcoin mining company Bitfarms announced the successful completion of a full stock acquisition of Stronghold Digital Mining, with a transaction value of over $110 million, making it the largest merger and acquisition case between two publicly listed Bitcoin mining companies.

This acquisition will increase Bitfarms' share of the North American energy market from 6% to 80%, significantly enhancing its presence in the U.S. PJM grid.

It is noteworthy that the world's second-largest Bitcoin mining company, Riot Platforms, previously attempted a hostile takeover of Bitfarms, which ultimately failed, and chose to hold a 20% stake in Bitfarms.