11:07 AM EDT, 09/13/2024 (MT Newswires) -- Bitfarms ( BITF ) said Friday it entered a miner hosting agreement with Stronghold Digital Mining Hosting, a subsidiary of Nasdaq-listed Stronghold Digital Mining ( SDIG ) , at Stronghold's Panther Creek site in Pennsylvania.

Under the terms, Bitfarms ( BITF ) will accelerate the deployment of 10,000 Bitmain T21 miners, originally scheduled to come online at the company's Paraguay site in December, to Stronghold's Panther Creek site.

Energization is anticipated in October, bringing 2.2 exa hashes per second.

"This hosting agreement represents an important milestone in our efforts to further optimize our assets and take greater control over our top cost element, the cost of power," Bitfarms ( BITF ) chief executive Ben Gagnon said. "The opportunity to vertically integrate our operations with Stronghold's existing power generation infrastructure provides a robust pathway to continued, profitable growth."

Bitfarms ( BITF ) shares were last seen up $0.04 to $2.80 on the Toronto Stock Exchange.

Price: 2.80, Change: +0.04, Percent Change: +1.45