Bitfarms Ltd., a North American Bitcoin mining firm, has expanded its deliberate convertible be aware sale to $500 million, up from the $300 million introduced only a day earlier, citing sturdy investor demand.
Key Takeaways:
- Bitfarms elevated its convertible be aware providing to $500 million, citing sturdy investor demand.
- The corporate plans to make use of proceeds for normal functions and capped name transactions to restrict share dilution.
- Bitfarms’ inventory stays up greater than 80% this month amid renewed optimism in Bitcoin mining.
In a press release on Thursday, the Nasdaq- and Toronto-listed miner mentioned it should concern 1.375% convertible senior notes due in 2031, with an possibility for preliminary purchasers to accumulate a further $88 million inside 13 days.
The providing is anticipated to shut round Oct. 21, pending Toronto Inventory Change approval.
Bitfarms’ $500M Notes Supply 30% Premium Conversion Worth, Maturing in 2031
The notes will accrue curiosity semi-annually beginning July 15, 2026, and mature on Jan. 15, 2031.
They function an preliminary conversion worth of roughly $6.86 per share, a 30% premium to Bitfarms’ final closing worth of $5.28.
Bitfarms mentioned proceeds shall be used for normal company functions and capped name transactions, that are designed to reduce share dilution if the notes are transformed.
The corporate operates mining and high-performance computing services throughout North America, supported by a 1.3-gigawatt vitality pipeline, with greater than 80% of its capability based mostly within the U.S.
Bitfarms’ inventory (BIFT) dropped 18.4% to $5.28 on Thursday and slipped one other 5.3% in after-hours buying and selling, in response to Yahoo Finance information.
Regardless of the pullback, shares stay up greater than 80% over the previous month, reflecting renewed investor optimism within the Bitcoin mining sector as crypto markets rebound.
$BITF Break down of right this moment’s $300M providing in layman’s phrases. Capped calls will defend Bitfarms inventory from dilution. It is a daring guess on the long run want of AI/HPC energy. It’s a sensible transfer. pic.twitter.com/Ki5ivDJzK1
— James Paul (@dochonda) October 16, 2025
As reported, in Could, Bitfarms confronted a proposed investor class motion after it disclosed plans to restate its 2022 and 2023 monetary outcomes.
The lawsuit accuses the corporate of improperly accounting for capital elevating transactions and deceptive shareholders.
The corporate reportedly failed to take care of satisfactory inner controls over monetary reporting.
In consequence, proceeds from digital asset gross sales had been recorded as working money move fairly than investing money move. The agency additionally overstated its remediation of a cloth weak spot tied to warrant transactions.
US Lawmaker Requires Nationwide Safety Probe Into China-Linked Bitcoin Mining Corporations
In September, Congressman Zachary Nunn requested the US Treasury to launch a nationwide safety evaluation of Chinese language corporations Bitmain and Cango, citing considerations over their increasing presence within the US crypto mining sector.
In a letter despatched to Treasury Secretary Scott Bessent, Nunn pointed to opaque possession constructions, potential state ties, and dangers to nationwide infrastructure as grounds for a Committee on International Funding in the US (CFIUS) investigation.
Bitmain, which dominates over 80% of the worldwide Bitcoin mining {hardware} market, and Nasdaq-listed Cango have each denied any merger plans.
Nonetheless, Nunn raised alarms over their development methods within the US, complicated financing preparations, and doable involvement in US vitality infrastructure.
His considerations observe a $300 million gear deal between Bitmain’s US arm and a Trump-linked mining agency.
Each corporations have said they adjust to US legal guidelines and haven’t any ties to international governments.
The publish Bitcoin Miner Bitfarms Boosts Convertible Notes Providing to $500M Amid Robust Demand appeared first on Cryptonews.