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Bitfarms Completes Acquisition of Stronghold Digital Mining as It Eyes AI Demand

The Toronto-based Bitcoin miner last year said it would acquire the U.S. firm in a deal it valued at $175 million.

Bitcoin mining giant Bitfarms has completed its acquisition of Stronghold Digital Mining, the company said on Monday. 

The Canadian mining company said in its announcement that the acquisition would help it focus on artificial intelligence by using the new site to optimize its data warehouses and sell space to AI firms. 

Bitcoin miners are increasingly homing in on AI. Both industries require huge amounts of energy and miners are able to use their existing infrastructure to cater to the demand for AI.

Bitfarms Completes Acquisition of Stronghold Digital Mining as It Eyes AI Demand

The Toronto-based Bitcoin miner last year said it would acquire the U.S. firm in a deal it valued at $175 million.

Bitcoin mining giant Bitfarms has completed its acquisition of Stronghold Digital Mining, the company said on Monday. 

The Canadian mining company said in its announcement that the acquisition would help it focus on artificial intelligence by using the new site to optimize its data warehouses and sell space to AI firms. 

Bitcoin miners are increasingly homing in on AI. Both industries require huge amounts of energy and miners are able to use their existing infrastructure to cater to the demand for AI. 

https://decrypt.co/310232/bitfarms-completes-acquisition-stronghold