Bitcoin-miner Bitfarms Ltd. (BITF) entered a definitive merger agreement on August 21, 2024, to acquire rival Stronghold Digital Mining, Inc. (SDIG) in an all-stock deal valued at about $175 million, including debt.
Under the merger terms, Stronghold shareholders will receive 2.52 shares of Bitfarms for each share of Stronghold they own, at about $6.02 per share, representing a premium of 105.46% from the stock’s last close.