Bitcoin Miner Bitfarms Closes $15M Brokered Private Placement

Canadian bitcoin mining firm Bitfarms (BITF)https://hashrateindex.com/stocks/bitf-cv 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

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Zack Voell

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.