Bitcoin Miner Bitfarms Boosts Convertible Notes Offering to $500M Amid Strong Demand

Bitfarms Ltd., a North American Bitcoin mining company, has expanded its planned convertible note sale to $500 million, up from the $300 million announced just a day earlier, citing strong investor ￰0￱ Takeaways: Bitfarms increased its convertible note offering to $500 million, citing strong investor ￰1￱ company plans to use proceeds for general purposes and capped call transactions to limit share dilution. Bitfarms’ stock remains up more than 80% this month amid renewed optimism in Bitcoin ￰2￱ a statement on Thursday , the Nasdaq- and Toronto-listed miner said it will issue 1.375% convertible senior notes due in 2031, with an option for initial purchasers to acquire an additional $88 million within 13 ￰3￱ offering is expected to close around Oct. 21, pending Toronto Stock Exchange approval.

Bitfarms’ $500M Notes Offer 30% Premium Conversion Price, Maturing in 2031 The notes will accrue interest semi-annually starting July 15, 2026, and mature on Jan. 15, ￰4￱ feature an initial conversion price of roughly $6.86 per share, a 30% premium to Bitfarms’ last closing price of $5.28. Bitfarms said proceeds will be used for general corporate purposes and capped call transactions, which are designed to minimize share dilution if the notes are ￰5￱ company operates mining and high-performance computing facilities across North America, supported by a 1.3-gigawatt energy pipeline, with more than 80% of its capacity based in the U. S. Bitfarms’ stock (BIFT) dropped 18.4% to $5.28 on Thursday and slipped another 5.3% in after-hours trading, according to Yahoo Finance ￰6￱ the pullback, shares remain up more than 80% over the past month, reflecting renewed investor optimism in the Bitcoin mining sector as crypto markets rebound. $BITF Break down of today’s $300M offering in layman’s ￰7￱ calls will protect Bitfarms stock from ￰8￱ is a bold bet on the future need of AI/HPC power.

It’s a smart ￰9￱ — James Paul (@dochonda) October 16, 2025 As reported, in May, Bitfarms faced a proposed investor class action after it disclosed plans to restate its 2022 and 2023 financial ￰10￱ lawsuit accuses the company of improperly accounting for capital raising transactions and misleading ￰11￱ company reportedly failed to maintain adequate internal controls over financial ￰12￱ a result, proceeds from digital asset sales were recorded as operating cash flow rather than investing cash ￰13￱ firm also overstated its remediation of a material weakness tied to warrant ￰14￱ Lawmaker Calls for National Security Probe Into China-Linked Bitcoin Mining Firms In September, Congressman Zachary Nunn asked the US Treasury to launch a national security review of Chinese firms Bitmain and Cango, citing concerns over their expanding presence in the US crypto mining ￰15￱ a letter sent to Treasury Secretary Scott Bessent, Nunn pointed to opaque ownership structures, potential state ties, and risks to national infrastructure as grounds for a Committee on Foreign Investment in the United States (CFIUS) investigation.

Bitmain, which dominates over 80% of the global Bitcoin mining hardware market, and Nasdaq-listed Cango have both denied any merger plans. Still, Nunn raised alarms over their growth strategies in the US, complex financing arrangements, and possible involvement in US energy ￰16￱ concerns follow a $300 million equipment deal between Bitmain’s US arm and a Trump-linked mining ￰17￱ companies have stated they comply with US laws and have no ties to foreign governments.