The factory will be built in Calgary, Alberta, A bitcoin data center company said Wednesday that it has agreed to acquire Stronghold Digital Mining Inc for about $175 million. The same is anticipated to be highly transformational and the resultant combined energy capacity should drive significant growth for Bitfarms, which enjoys backing of seven law firms.
Bitfarms to Buy Stronghold Digital Mining : Energy Portfolio Expansion
If the deal goes through it will increase Bitfarms power resources by a maximum of 307 Megawatts, in line with its plans to upscale its energy assets up to over 950 megwauls until early 2025. Counsel to Toronto-based Bitfarms included Skadden Arps Slate Meagher & Flom LLP, McMillan LLP and Peterson McVicar LLP as Canadian counsel on a tax matter; Fasken Martineau DuMoulin LPP for real estate matters related to ongoing operations the joint venture,and Firm 21m PLLC. The bitcoin mining and environmental remediation firm Stronghold Digital Mining was counseled by Vinson & Elkins LLP with a team led by partner John Grand, as well as associate Zach Nels ; outside Canadian counsel Blake Cassels & Graydon on corporate/M&A matters.
