Bitcoin miner Bitfarms to issue $300 million convertible bond
2025-10-15 23:00:07
Bitcoin mining and digital infrastructure company Bitfarms (BITF) has announced its intention to issue a $300 million unsecured convertible bond with a maturity through 2031, with interest payable semi-annually from July 2026. The bond can be converted into cash or common stock at the company's discretion. The proceeds raised will be used for general corporate purposes, including hedging the dilution risk that may arise from convertible bond conversions. Bitfarms recently appointed Jonathan Mir, a veteran advisor in the energy sector, as CFO and plans to move to the US. It has previously completed the repurchase of 10% of the outstanding shares. Convertible bonds have become a new trend in low-cost financing for mining companies. Recently, Cipher Mining and TeraWulf have both raised funds through similar means.
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