Stronghold Digital Mining
The business, the turning points, and the decisions behind them.
Some sections are still being researched2 / 4
Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Stronghold Digital Mining, a Pennsylvania-based Bitcoin mining company, operated vertically integrated crypto-asset mining sites with its own power generation capacity, paired with environmental remediation and reclamation services. The company had about 4.0 EH/s of hashrate and 165 MW of generating capacity. In August 2024 Bitfarms agreed to acquire Stronghold in a stock-for-stock merger valued at about $125 million in equity plus about $50 million of assumed debt; the acquisition closed on March 17, 2025.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Acquisition
On August 21, 2024, Bitfarms and Stronghold sign a definitive merger agreement: a stock-for-stock deal valued at about $125 million in equity plus about $50 million of assumed debt.
- Acquisition
Bitfarms completes the acquisition on March 17, 2025; Stronghold shareholders receive 2.52 Bitfarms shares per share and Stronghold becomes a wholly-owned subsidiary.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
Material for this section is being gathered and checked. It will appear here once ready.