Canadian bitcoin mining firm Bitfarms (BITF) closed a fully subscribed private placement of common shares worth CAD$20 million, or over US$15 million.
- Bitfarms announced the sale Sunday, per a prior release.
- In total, the sale consisted of 8,888,889 shares.
- CEO Emiliano Grodzki said, "It has never been such an exciting time to be a part of the cryptocurrency mining industry." With miner manufacturers straining to meet the surging demand for new machines, he's not wrong.
- Shares of the Quebec-based company are trading hands at $3 currently, up nearly 500% in the past year.
- Bitfarms has a current market value of $260 million with 85.72 million shares outstanding.
See also: Bitfarms: A Race Against Time