#Bitfarms Expands Convertible Notes Offering to $500 Million


North American Bitcoin mining firm Bitfarms Ltd. announced Thursday that it priced an expanded convertible senior notes offering, increasing the size to $500 million from $300 million proposed just one day earlier. The Nasdaq and Toronto-listed company will issue 1.375% convertible senior notes due 2031, with initial purchasers holding an option to buy an additional $88 million within 13 days.


The convertible notes will accrue interest semi-annually beginning July 15, 2026, and mature Jan. 15, 2031. The notes carry an initial conversion price of approximately $6.86 per share, representing a 30% premium to Bitfarms' last closing price of $5.28. The offering is expected to close around Oct. 21, 2025, pending Toronto Stock Exchange approval.


Bitfarms plans to allocate proceeds for general corporate purposes and financing capped call transactions designed to limit dilution, according to the statement. The company operates crypto #mining facilities and energy infrastructure for high-performance computing across North America.


The firm maintains a 1.3 GW energy pipeline with over 80% of capacity based in the United States, according to company statements. The expanded offering represents a 67% increase from the initial $300 million proposal announced Wednesday.

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October 17, 2025 at 1:15 PM
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