💰Bitcoin mining company Bitfarms has announced its plan to acquire Stronghold Digital Mining in a deal valued at $175 million

The acquisition will be financed through a combination of equity and debt, reflecting Bitfarms' strategic expansion efforts in the cryptocurrency mining industry.

This move is expected to significantly enhance Bitfarms' mining capacity and operational efficiency by integrating Stronghold Digital's assets and infrastructure. The deal comes at a time when the competition in the Bitcoin mining sector is intensifying, with companies looking to scale up and optimize their operations to remain competitive.