Bitfarms completes the acquisition of Stronghold Digital and sells the Paraguay Mining facility to HIVE Digital

Techub News reported that BTC mining company Bitfarms completed the acquisition of Stronghold Digital. As part of the merger, Bitfarms will issue approximately 59,678,164 common shares and 10,574,848 warrants. In addition, Bitfarms also paid $45 million to settle Stronghold’s outstanding loans at the time of the transaction, and Stronghold’s common shares ceased trading on the NASDAQ. The company stated that this transaction will increase Bitfarms’ hashrate to 18 EH/s and its managed energy portfolio to 623 MW.

In addition, HIVE Digital announced on Tuesday that it has completed the acquisition of Bitfarms’ 200-megawatt hydroelectric power facility in Yguazú, Paraguay, for a price of 56 million US dollars. The transaction also includes the repayment of approximately 19 million US dollars in power deposits to the local utility company, as well as 10 million US dollars in remaining capital debt, such as construction costs. This acquisition has increased HIVE’s mining capacity by 317% to 6 EH/s, and is expected to reach 25 EH/s by September.