Bitfarms Ltd. (BITF,BITF.TO) announced that it has priced its offering of US$500 million aggregate principal amount of 1.375% convertible senior notes due 2031.
Bitfarms has also granted the initial purchasers of the Convertible Notes an option to purchase, for a 13-day period beginning on and including the date on which the Convertible Notes are first issued, up to an additional US$88 million aggregate principal amount of the Convertible Notes.
The aggregate principal amount of the offering was increased from the previously announced offering size of $300 million or $360 million if the initial purchasers exercise their option to purchase the option in full. The offering is expected to close, subject to customary closing conditions on or about October 21, 2025.
The company intends to use the net proceeds from the offering for general corporate purposes. Additionally, the Company intends to use either net proceeds from this offering or cash on hand to pay the cost of the capped call transactions.
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