Bitcoin miner Bitfarms upsizes convertible notes offering to $500 million
The Block
Bitfarms increased its convertible senior notes offering to $500 million, up from a previously proposed $300 million.Summary
North American bitcoin mining firm Bitfarms announced it has priced an expanded offering of convertible senior notes, increasing the size to $500 million from the $300 million proposed just a day earlier. The Nasdaq- and Toronto-listed company will issue 1.375% convertible senior notes due in 2031, with an initial conversion price of about $6.86 per share, representing a 30% premium over its last closing price of $5.28. Bitfarms intends to use the proceeds for general corporate purposes and to finance capped call transactions aimed at limiting potential shareholder dilution. The offering is scheduled to close around October 21, 2025, pending TSX approval.
(Source：The Block)