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Bitfarms, a Bitcoin mining company, has filed a $300 million convertible bond issuance application.

2025.10.16 07:48:21

On October 16th, as reported by The Block, Bitcoin mining and digital infrastructure company Bitfarms Ltd. intends to issue a batch of convertible bonds with the aim of raising $300 million. These convertible bonds have the option to be converted into cash, the company's common stock, or a combination of both at Bitfarms' discretion. The bonds are unsecured and have a maturity date of 2031. They will pay interest semi-annually starting from July 2026. Bitfarms declared that the raised funds will be utilized for general corporate purposes, including for "cap option trades" in order to hedge the equity dilution resulting from the bond conversion. The company plans to reach private agreements with certain bond buyers to restrict the dilution to a premium of approximately 125% of the current stock price.
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