Bitfarms Closes Its Second $15M Private Placement in a Week

Bitfarms was able to sell far few shares for the same amount of proceeds thanks to a 45% rise in its stock price in the last week.

AccessTimeIconJan 14, 2021 at 2:08 a.m. UTC
Updated Dec 10, 2022 at 1:46 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Public cryptocurrency mining company Bitfarms (BITF) closed its second private placement of shares Wednesday worth CAD$20 million, or over US$15 million, a week after closing another $15 million placement.

  • The sale consisted of 5,586,593 common shares, per a release, over 3 million fewer shares than its first placement.
  • The proceeds will fund the acquisition of additional mining machines and the expansion of its mining facilities.
  • Shares of the Quebec-based company are trading hands at $4.37 currently, up more than 45% from the price when Bitfarms closed its first placement.
  • Bitfarms has a current market value of $374 million with over 85 million shares outstanding, per data from Ycharts.


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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

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 to register and buy your pass now.

Read more about