Digital Frontier Expands US Operations with Acquisition of NovaTech

Bitfarms Completes Acquisition of Stronghold, Strengthens US Presence

Bitfarms, a leading Canadian cryptocurrency mining company, has announced the successful completion of its acquisition of Stronghold Digital Mining. The deal marks a significant milestone for Bitfarms as it strengthens its presence in the United States and expands its mining operations.

As part of the acquisition, Bitfarms has acquired Stronghold's 210-megawatt mining operation in Pennsylvania, which is expected to increase its overall mining capacity by 15%. The acquisition also brings a team of experienced professionals to Bitfarms, further enhancing its operational capabilities.

"We are thrilled to welcome Stronghold to the Bitfarms family," said Bitfarms CEO, Christian Genetski. "This acquisition is a major step forward for our company, and we are excited to leverage Stronghold's expertise and infrastructure to drive growth and increase our mining capacity in the United States."

The acquisition is seen as a strategic move by Bitfarms to expand its presence in the US market, which is expected to play a significant role in the global cryptocurrency mining landscape. With the acquisition complete, Bitfarms now operates a total of 1,800 megawatts of mining capacity across North America, with significant operations in Canada and the United States.

The acquisition is also expected to have a positive impact on Bitfarms' financial performance, with the company expecting to benefit from reduced costs and increased efficiency as a result of the combined operations.

In a statement, Stronghold's CEO, Robert Jennings, said: "We are proud to have joined forces with Bitfarms, a leading player in the cryptocurrency mining industry. This acquisition presents a significant opportunity for us to scale our operations and increase our impact in the market."

The acquisition is the latest in a series of strategic moves by Bitfarms to expand its operations and increase its mining capacity. In recent months, the company has also announced plans to expand its operations in Canada and invest in new technologies to improve its mining efficiency.