Bitfarms Acquires Stronghold Digital Mining in Major Bitcoin Mining Merger

According to PANews, Canadian Bitcoin mining company Bitfarms has announced the successful completion of its all-stock acquisition of Stronghold Digital Mining, valued at over $110 million. This transaction marks the largest merger between two publicly traded Bitcoin mining companies. As a result of the acquisition, Bitfarms' share in the North American energy market will increase from 6% to 80%, with a significant expansion in the U.S. PJM grid. Previously, Riot Platforms, the world's second-largest Bitcoin mining company, attempted a hostile takeover of Bitfarms but was unsuccessful. Instead, Riot Platforms opted to acquire a 20% stake in Bitfarms. In related news, the U.S. Securities and Exchange Commission (SEC) is set to hold an industry roundtable this Friday to discuss the securities status of crypto assets, which is expected to influence future regulatory directions. Additionally, New York is hosting several crypto industry conferences this week, including Tokenize NYC, Blockworks DAS, and Medici NY, drawing numerous industry leaders and policymakers.