Bitfarms Plans Major Expansion With Stronghold Digital Acquisition

According to Odaily, Bitfarms CEO Ben Gagnon revealed in an interview that the company plans to acquire Stronghold Digital, positioning 50% of its future computing power in Pennsylvania. Gagnon discussed how the new investment portfolio in Pennsylvania could provide Bitfarms with opportunities to enter the energy trading business. Additionally, he mentioned that Bitfarms might venture into artificial intelligence and high-performance computing by 2026. Previously, Bitfarms announced that it had signed a definitive merger agreement with Stronghold Digital Mining. The acquisition is expected to be completed in the first quarter of 2025 through a stock-for-stock merger transaction.