Summary by Futu AI
On September 3, 2024, Bitfarms Ltd., a global leader in Bitcoin data center operations, announced a significant expansion of its operations with the acquisition of Stronghold Digital Mining, which is expected to increase Bitfarms' energy portfolio by 47% by the end of 2025. The company also reported its August 2024 production and operations update, revealing it had mined 233 BTC in August and increased its HODL to 1,103 BTC. Bitfarms' operational hashrate rose to 11.3 EH/s, and the company took control of a new site in Sharon, PA, with the potential to expand to 120 MW. The acquisition and site control are part of Bitfarms' strategy to diversify operations and enhance shareholder value. The company sold 147 BTC in August as part of its treasury management, adding 86 BTC to its treasury, valued at approximately $65.1 million. Bitfarms is also participating in upcoming conferences and events to discuss its growth and investment opportunities.