Bitfarms promotes the US strategy with the completion of the digital mining for the wedding of the digital mining
-1.1 GW Pa growth pipeline strategically for HPC/AI and BTC mining.
-Bitfarm’s positions as a leading Bitcoin-Bergmann in the PJM market
This press release represents a “named press release” for the purposes of the second changed and adapted prospectus compensation of the company of December 17, 2024 for the short form base protectus of November 10, 2023.
Toronto, March 17, 2025 (Globe Newswire) – Bitfarms Ltd. (Nasdaq/TSX: Bitf), a global bitcoin and vertically integrated data center company, announced the successful conclusion of his previously announced acquisition of digital mining, Inc. (“Fortress” or “Sdig”).
The acquisition of stronghold results in the following advantages:
Strategic MW growth
- Increases the energy portfolio to 623 megawatts (“Mwum”) with incremental 165 MW active generation capacity and 142 MW immediately available import capacity
- Secure 1.1 GW growth pipeline in Pennsylvania, including the current electricity generation capacity, the current network import capacity and future import capacity
- PJM demand approach programs expected to reduce the total current costs
US portfolio expansion
- Returns from the end of the year 2025 energy portfolio to 80% North American and 20% international
Progress of the HPC/AI strategy
- Potential to develop two Power Campus with a total of almost one gigawatts for HPC/AI
- Strategic partner WWT and ASG prioritization of Hochburg.
Anyway growth
- Adds almost 1 exahash management (“ehum”) through existing hosting agreements in Kanaan with 50% profit splitting, which increases bitfarms in total
- Previously announced stronghold hosting agreements are now Bitfarm’s self-mining
Ben Gagnon, Chief Executive Officer from Bitfarms, explained: “The conclusion of this strategic acquisition extends our American footprint and makes us the industry leader on the PJM market combined PJM pipeline, which includes three websites in Pennsylvania with strategically located land, power and fiber as well as for Bitcoin mining.
Transaction details
Bitfarms acquired the stronghold in a stock-for-stand fusion in accordance with the festival customers. Approximately 59,678.164 Bitfarms stem shares and 10,574,848 Bitfarms -adhesive commands are issued in connection with the completion of the merger. In addition, around 44.5 million US dollars were paid for the closure to call out outstanding loans.
In connection with the completion of the transaction, the Sdig’s ordinary shares hired Nasdaq before the opening of the trade.
About Bitfarms Ltd.
Bitfarms was founded in 2017 and is a global bitcoin and vertically integrated data center company that sells its computing power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns and operates vertically integrated mining systems with internal management and company ownership Electrical engineering, installation service and several technical repair centers on site.
Bitfarms currently has 15 Bitcoin data centers in four countries: the USA, Canada, Paraguay and Argentina. Bitfarms is mainly driven by environmentally friendly water contracts with hydropower and long -term power contracts.
Further information on the events, developments and online communities from Bitfarms:
www.bitfarms.com
https://www.facebook.com/bitfarms/
http://x.com/bitfarms_io
https://www.instagram.com/bitfarms/
https://www.linkedin.com/company/bitfarms/
Glossary of the terms
- Mwum = megawatts under administration, the currently used electrical capacity in bitfarms calculation centers, which includes immediately available network import capacity and capacity of the active generation
- EHum = exahash under the management, which includes the proprietary hashrate and hashrate of bitfarms, which is hosted by bitfarms for third -party customers
- EH or EH/S = Exahash or Exahash per second
- MW or MWh = megawatts or megawatts hour
- HPC / AI = High Performance Computing / Artificial Intelligence
- PJM = PEnnsylvania-New Jersey-Maryland connection
Predicted statements
This press release contains certain “future-oriented information” and “future-oriented statements” (together “future-oriented information”), which are based on expectations, estimates and projections at the time of this press release and are covered by secure ports according to the securities laws of Canada and the American securities. The statements and information in this release regarding the positive impact of the Stronghold Acquisition and the Ability to Gain Access to Additional Electrical Power and Grow Hashrate of the Stronghold Business, Target Hashrate, Opportunities Relating to The Company’s Geographical Diversification and Expansion, The Merits of the Rebalancing Operations to North America and Projected Growth, The North American Energy and Compute Infrastructure Strategy, Opportunities Relating to the Potentials of the Company’s Data Centers for HPC/AI, Performance from the systems and devices upgrades and the effects on operating capacity, including the target hay And several years of expansion capacity, use the possibilities of using the proven know-how of bitfarms in order to successfully improve energy efficiency and the hashrate. Any statements that Involve Discussions with Respect to Predictions, Expectations, Supplements, Plans, Projects, Objectives, Assumptions, Future Events Or Performance (Often But not Always Using Phrases Such as “Expects”, OR “Is Not Expect”, “Anticipates”, Or “Does not Anticipate”, “Plans”, “Budget”, “Scheduled”, “Forecasts”, “Estimates”, “Prospects”, “Believes” or “intentions” or variations of such words and phrases or the fact that certain actions, events or results “can” or “might”, “” or “will” be viewed) Identify historical facts and can identify future -oriented information and identify future -oriented information.
This future -oriented information is based on assumptions and estimates of the management of the company at the time of its activity and contain known and unknown risks, uncertainties and other factors that can lead to the fact that the actual results, performance or success of the company differ significantly from future results, performance or services that have been expressed or implied by such future -oriented information. These factors include the risks for: an inability to apply the company’s data centers to HPC/AI options; a failure to secure long-term contracts with HPC/AI customers who are economically or economically or at all; The company’s construction and operation cannot be carried out or not at all as currently planned. the inability to successfully consider the business of Hochburg Digital Mining, Inc. as well as in consideration; The expansion cannot occur as expected or not at all. The expected merits of the HPC/AI strategy, the advantages and programs of the PJM deregulated market and the goals of diversification in general cannot be realized as planned. Efforts to improve and optimize the performance of devices may be unsuccessful. the market for digital currency; the ability to successfully reduce the digital currency; Sales should not or do not rise at all as expected. It may not be possible to liquidate the current digital currency inventory or profitably at all. A decline in digital currency prices can have significant negative effects on the company. An increase in network difficulties can have a significant negative impact on the company. The volatility of digital currency prices; the expected growth and sustainability of hydropower for the purpose of cutting cryptocurrency in the applicable jurisdiction; to maintain the inability to maintain reliable and economic sources of power for the company at the companies of assets for cryptocurrency; The risk of an increase in the company’s electricity costs, the natural gas costs, changes in the exchange rates, energy restrictions or regulatory changes to the energy supply in the jurisdiction in which the company works, and the adverse effects on the company’s profitability; Future capital needs and the ability to complete current and future financing, including Bitfarm’s ability to use a program for the offer (“ATM program”) and the prices to which securities can be sold in such an ATM program, as well as the conditions for capital markets in general. Silent dilution due to an ATM program and from other equity exhibitions; The risk that a significant weakness of internal control over financial reporting can lead to a false statement by the company’s financial situation, which can lead to a significant false statement of the year or the provisional corporate degrees if it is not prevented or recognized in good time. All regulations or laws that prevent Bitfarms from operating his business; Historical prices for digital currencies and the ability to reduce digital currencies that match historical prices; And the acceptance or expansion of regulation or right, they prevent Bitfarms from doing their business or making it more expensive. Further information on these and other risks and uncertainties can be found in the company’s submissions www.sedarplus.ca (which are also available on the website of the US Securities and Exchange Commission www.sec.gov) Including the MD & A submitted on December 31, 2023, submitted on December 9, 2024. Although the company tried to identify important factors that can lead to the fact that the actual results differ significantly from the statements expressed in future -oriented statements, other factors that are not as expected, esteemed or intended factors that are currently unknown or are currently unknown. It cannot be guaranteed that such statements will prove exactly, since the actual results and future events could differ significantly from the statements expected in such statements. Accordingly, readers should not inappropriate information on future -oriented information. The company assumes no obligation to revise or update other future -oriented information that is not required by law. The trade in the company’s securities should be considered highly speculative. No stock exchange, the securities commission or another supervisory authority has approved or rejected the information contained herein. Neither the Toronto Stock Exchange, the NASDAQ nor another securities exchange or another regulatory authority assumes the responsibility for the appropriateness or accuracy of this release.
Investor relationships contacts:
Tracy crooked
SVP, Head of IR & Corp. Comms.
+1 786-671-5638
tkrumme@bitfarms.com
Media contacts:
Caroline Brady Baker
Director, communication
cbaker@bitfarms.com
Source: Bitfarms Ltd.
Published on March 17, 2025
