Canadian BTC mining company Bitfarms completes the acquisition of Stronghold

Deep Tide TechFlow News, on March 17th, according to Crypto In America, Bitfarms, a Toronto-based BTCMining company, announced the successful completion of the acquisition of New York mining company Stronghold Digital Mining. The all-stock transaction was valued at over $110 million at the time of the transaction, marking the largest acquisition between two publicly traded BTC mining companies.

The acquisition, first announced in August last year, took three years to finally complete. Through this acquisition, Bitfarms will significantly enhance its presence in the US energy market, especially in the largest wholesale electricity market in the US, the ‘PJM Grid’ region. With the addition of the Stronghold assets, Bitfarms expects to increase its North American energy portfolio from about 6% to 80% by the end of this year.