Form 4: Indira Agarwal Disposes of Stronghold Digital Mining Shares Following Merger with Bitfarms

Director Indira Agarwal reports the disposal of Stronghold Digital Mining shares following the merger with Bitfarms, receiving Bitfarms common shares in return.

Summary

• Indira Agarwal, a director of Stronghold Digital Mining, Inc. (SDIG), reported changes in beneficial ownership following the company's merger with Bitfarms Ltd.
• The transaction involved the disposal of 57,059 shares of Stronghold's Class A common stock.
• This disposal occurred as a result of the merger agreement between Stronghold and Bitfarms, where Stronghold merged into a subsidiary of Bitfarms.
• Each share of Stronghold's Class A common stock was converted into the right to receive 2.52 Bitfarms common shares, with fractional shares paid in cash.
• The effective time of the merger resulted in the conversion of Stronghold shares into Bitfarms shares.
• On March 13, 2025, the closing price of one Bitfarms common share was $1.09.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to a merger. It doesn't convey strong positive or negative sentiment, but rather reports a factual transaction.

Future Outlook

The document does not contain explicit forward-looking statements beyond the completion of the merger.

Industry Context

This announcement reflects consolidation trends within the digital mining industry, where companies are merging to achieve greater scale and efficiency.

Stakeholder Impact

• Shareholders of Stronghold Digital Mining received Bitfarms common shares as a result of the merger.
• The merger impacts the ownership structure of Stronghold Digital Mining.

Key Dates