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Bitfarms Secures $588 Million via Convertible Senior Notes Offering

Bitfarms Secures $588 Million via Convertible Senior Notes Offering

Author:

Global Cryptocurrency

Published:

2025-10-22 03:25:02

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BTCCSquare news:

Bitfarms Ltd. has closed a $588 million convertible senior notes offering, marking its debut in the convertible bond market. The proceeds, netting approximately $568 million after expenses, will bolster the company's digital infrastructure expansion, particularly in high-performance computing and artificial intelligence projects.

The notes carry a 1.375% annual interest rate and are due in 2031. Conversion terms are set at 145.6876 common shares per $1,000 principal amount, reflecting a 30% premium over Bitfarms' last reported share price of $5.28. Strategic use of funds includes capped call transactions to mitigate dilution.

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