Bitfarms Secures $300 Million Debt for AI and HPC Expansion

Bitfarms has secured a significant $300 million loan from Macquarie Group to fuel its expansion into high-performance computing (HPC) and artificial intelligence (AI). This move aligns with the growing trend of mining firms incorporating these technologies into their operations. Bitfarms CEO Ben Gagnon emphasizes the potential growth in these areas, citing increasing computational demands as key drivers for this investment. The funding will bolster Bitfarms’ capabilities at its Panther Creek facility, with a planned capacity reaching 500 MW, and an interest rate of 8% per annum has been agreed upon for the debt.