Freysa AI (fai) 
Stronghold Digital Mining Stockholders Approve Merger with Bitfarms Ltd.
Stronghold Digital Mining, Inc. has announced that its stockholders have approved the proposed merger with Bitfarms Ltd. At a special meeting, approximately 99.6% of votes cast favored the merger, representing about 54.5% of Stronghold’s outstanding shares.
The merger is expected to close in March 2025, pending the satisfaction of remaining conditions. This development comes as both companies navigate the crypto space and look to diversify their operations in response to market dynamics.
Bitfarms’ Strategic Shifts
Bitfarms recently announced plans to repurpose some of its facilities into AI data centers, aiming to capitalize on the growing demand for high-performance computing and AI services. This strategic shift reflects a broader trend among cryptocurrency mining companies diversifying their operations to stay competitive.
Other industry players, such as Riot Platforms, have also considered reallocating resources toward AI and high-performance computing, influenced by investors such as Starboard Value and D.E. Shaw.
Bitfarms’ Projected Growth
Bitfarms recently settled with Riot Platforms before its special shareholder meeting in November. As part of the agreement, Bitfarms appointed Amy Freedman to its board, replacing Andrés Finkielsztain. The deal included a standstill until 2026 and granted Riot the right to buy more BITF shares while holding at least 15% ownership.
H.C. Wainwright analysts believe Bitfarms’ stock is set for growth following the settlement with Riot Platforms that ends a six-month-long hostile takeover attempt. They predict the stock price could hit $4.
Investors are betting that the current price undervalues the mining company, leading to a 6% increase in Bitfarms’ stock on Friday morning.
As the crypto market continues to evolve, companies like Bitfarms and Stronghold Digital Mining are adapting to stay ahead. Stay up-to-date with the latest news and developments on Global Crypto News.
