Bitfarms Secures $300 Million in Convertible Notes Offering

Canadian digital infrastructure company, Bitfarms Ltd., has launched a $300 million convertible senior notes offering due in 2031. This financing will be used to cover general corporate expenses and mitigate potential dilution risk through capped call transactions. The notes offer the option for an additional $60 million, with a total of up to $360 million raised if exercising the option is successful. Bitfarms’ CEO, Geoff Morphy, has previously stated that these proceeds will be used to fund general corporate purposes and mitigate dilution risk through capped call transactions.