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Bitfarms Secures $44m From US Investors To Boost Bitcoin Mining Operations

Bitfarms Ltd., a Canadian Bitcoin mining company, has initiated a private placement deal with U.S. institutional investors to raise approximately $44 million ($60 million CAD). This strategic deal, set to close around Nov. 28, entails the issuance of over 44 million common shares at 99 cents each, coupled with warrants for purchasing additional shares. As Bitfarms mentions, the proceeds from this private placement will fund key growth initiatives, including acquiring new mining equipment, expanding infrastructure, and bolstering the company’s working capital​​. Their operations are powered mainly by hydro-electric energy and long-term power contracts.

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