Bitcoin data center company Bitfarms Ltd. has agreed to acquire Stronghold Digital Mining in a stock-for-stock merger valued at an aggregate $175 million. The transaction, announced Aug. 21, is expected to close in the first quarter of 2025. Toronto-based Bitfarms was advised by Skadden, Arps, Slate, Meagher & Flom and McMillan. The Skadden Arps team includes partners Christopher Barlow, June Dipchand and Ryan Dzierniejko. Stronghold Digital, which is based in Kennerdell, Pennsylvania, was represented by Blake, Cassels & Graydon and Vinson & Elkins.
Cryptocurrency
August 22, 2024, 11:32 AM