Strongold Digital Mining, Inc. Announced that his stockholders by Bitfarms Ltd. The proposed merger has been approved by heavy approval.
In a special meeting, around 99.6% of the votes favored the merger, which represents about 54.5% of the outstanding shares of the stronghold. The stock of Bitfarms was seen doing more than 6% trading on Friday morning as investors are betting on the current price of the mining company.
The merger is expected to be closed in March 2025, pending the satisfaction of the remaining conditions, According For a release from Garh.
This merger comes when both companies navigate the crypto space. BITFARMS recently announced a plan to reproduce some of its features in AI data centers, aims to capitalize on high-demonstration computing and increasing demand for AI services.
Similarly, players from other industries, such as riot platforms, have considered reviving resources towards AI and high-demonstration computing, affected by investors such as Starboard Value and D. Shaw.
These strategic changes reflect a broader tendency among cryptocurrency mining companies that diversify their operations in response to market dynamics.
Estimated increase of bitforms
Bitforms recently settled with riot platforms before their special shareholder meeting in November. As part of the agreement, Bitforms appointed Amy Freedman to their board, which replaces Andres Finchilsen.
The deal consisted of a standstill by 2026 and the riot was given the right to buy more BITF shares keeping at least 15% ownership.
HC venerate analysts believe that the stock of bitforms is determined for development after a disposal with riot platforms that ends the six -month hostile acquisition attempt. They predict that the share price can be $ 4.
