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Bitfarms Seeks $500 Million in Convertible Notes Amid Stock Plunge

Bitfarms Seeks $500 Million in Convertible Notes Amid Stock Plunge

Author:

Global Cryptocurrency

Published:

2025-10-17 07:49:02

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BTCCSquare news:

Bitfarms Ltd. has priced a $500 million convertible senior notes offering, significantly increasing the size from its initial $300 million announcement. The cryptocurrency mining company's notes, due in 2031, carry a 1.375% interest rate and convert at $6.86 per share—a 30% premium to its October 16 closing price of $5.28.

The offering includes an option for initial purchasers to buy an additional $88 million in notes within 13 days. Bitfarms also entered capped call transactions with financial institutions to mitigate potential dilution, setting a cap price of $11.88 per share. Market reaction was sharply negative, with the stock dropping over 18% following the announcement.

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