Bitfarms Raises $500M in Convertible Notes to Strengthen Its Crypto Infrastructure

TLDR: Bitfarms priced a $500M convertible note offering with a 1.375% rate and maturity in 2031 to fund operations. The convertible notes convert at $6.86 per share, representing a 30% premium over Bitfarms’ Nasdaq closing price. Bitfarms’ capped call transactions aim to offset dilution up to a 125% premium, protecting existing shareholders. The offering, increased [...]

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