Bitfarms Boosts Realized Bitcoin Hashrate by 15% Following Stronghold Merger
Bitfarms has reported a 15% increase in its realized Bitcoin hashrate for March after completing the merger with Stronghold Digital Mining.
The Toronto-headquartered mining firm announced on Tuesday that it mined 280 BTC in March—representing a 31% month-over-month increase—driven by a higher operating hashrate and the longer calendar month. Bitfarms’ March production implies a realized hashrate of 15.39 EH/s, with additional contributions from Stronghold’s proprietary mining operations in Pennsylvania.
The merger, finalized in mid-March, added approximately 3 EH/s of installed hashrate to Bitfarms’ portfolio, boosting its total capacity from 16.1 EH/s in February to 19.5 EH/s by the end of March.
As part of the integration, Bitfarms acquired Stronghold’s Panther Creek and Scrubgrass power plants, along with supporting infrastructure in Pennsylvania. This also included both proprietary and profit-sharing Bitcoin miners deployed at those sites. Bitfarms ended March with 1,140 BTC in its treasury after liquidating 142% of its monthly production.
However, Bitfarms is exploring a strategic pivot toward high-performance computing (HPC) hosting, leveraging the newly acquired infrastructure and making key hires to lead the transition.
CEO Ben Gagnon noted that initial studies from Bitfarms’ partners indicate all three Pennsylvania sites are “well-suited” for potential HPC conversion.
“They are strategically located near other data center campuses and peering hubs, and they have the necessary power, land, and fiber infrastructure to support HPC,” Gagnon said. “We expect to receive full, detailed feasibility studies in Q2.”
