Bitfarms Raises $46 Million in Private Placement!

Crypto Live News

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Bitfarms has announced a private placement in the US for approximately C$60 million ($46 million). The offering will consist of 44.4 million common shares at C$1.35 ($1.04) each, as well as warrants to purchase up to 22.2 million shares at an exercise price of C$1.61 ($1.17). The proceeds will be used to acquire additional miners, expand infrastructure, and improve working capital. The placement is expected to close on November 28, subject to customary closing conditions and Toronto Stock Exchange approval. The securities will not be registered in Canada or the US and cannot be offered or sold without registration or an exemption from registration requirements. Bitfarms operates 11 farms in four countries, with a focus on sustainable, locally based power sources.

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