Bitfarms has finalized its acquisition of Stronghold Digital Mining, a move the company values at $175 million, aimed at enhancing its presence in the U.S. market and addressing rising demand in artificial intelligence (AI). This acquisition allows Bitfarms to leverage Stronghold's power assets for optimizing data warehouses, positioning it to cater to the energy needs of both Bitcoin mining and AI operations. With the strategic expansion, Bitfarms aims to create long-term value for shareholders and competes more effectively against rivals like Riot. The acquisition secures a 1.1 GW growth pipeline in Pennsylvania, which includes current and future power generation and grid import capacity. Analysts believe this merger strengthens Bitfarms’ market position, potentially making it a more formidable target in the ongoing consolidation within the Bitcoin mining sector.

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