- Bitfarms secures up to $300M in financing from Macquarie to fuel AI infrastructure and expand its Panther Creek data center project.
- The Stronghold acquisition adds 1.1 GW in U.S. power assets, boosting Bitfarms’ energy capacity to 623 MW across key Pennsylvania sites.
- Bitfarms shifts toward sustainable AI and HPC infrastructure, leveraging green energy and proximity to NYC and Philadelphia for growth.
Bitfarms has secured a funding agreement to support its aspirations for AI infrastructure. Macquarie Equipment Capital provided up to $300 million in private loan funding for the business. The expansion of its high-performance computing (HPC) data center in Panther Creek, Pennsylvania, will be facilitated by this investment. The first tranche of the loan totals $50 million. However, the remaining funds depend on specific development milestones.
This move signals Bitfarms’ aggressive push into the growing AI infrastructure space. CEO Ben Gagnon stated that the financing arrives at a crucial time. Demand for compute power and energy capacity is surging. Hence, this capital enables Bitfarms to act quickly. Moreover, An additional layer of value is added by the Panther Creek facility’s advantageous location. It is conveniently located near major urban markets, with Philadelphia and New York City all within 100 miles.
Stronghold Acquisition Accelerates US Expansion
Besides the financing, Bitfarms recently completed a strategic acquisition. On March 17, the company finalized its all-stock merger with Stronghold Digital Mining. Stronghold shareholders received 2.52 Bitfarms shares for each Stronghold share. Consequently, Stronghold ceased to exist as a public company. Its operations are now fully integrated into Bitfarms.
This deal boosts Bitfarms’ U.S. presence. It also provides a massive 1.1 gigawatt pipeline across three Pennsylvania locations. Additionally, the acquisition brings 165 MW of active capacity and 142 MW of import-ready power online. With these assets, Bitfarms’ energy under management now totals 623 MW.
Focused on Sustainable and Scalable Infrastructure
Bitfarms keeps growing while keeping its emphasis on sustainability. Long-term green energy contracts and hydroelectric electricity are the company’s main sources of income. As a result, its expansion corresponds with growing environmental concerns in the AI and crypto industries.
Moreover, the Panther Creek project highlights Bitfarms’ transition into a broader compute infrastructure provider. While Bitcoin mining remains key, the focus on AI and HPC diversifies the company’s future. This expansion aligns with Bitfarms’ strategic vision. The goal is to strengthen its foothold in the North American market, especially in the PJM energy region.
