Bitfarms slips after unveiling $300 mln convertible bonds sale plans

Keel Infrastructure

15/10/2025 21:28

** U.S.-listed shares of Bitfarms BITF.O down 5.4% post-market at $6.12 after planned capital raise news

** Canadian bitcoin miner announces private offering of $300 mln convertible bonds due Jan 15, 2031

** Co plans to use net offering proceeds for general corp purposes

** It also intends to use either offering proceeds or cash on hand to pay cost of capped calls, derivative transactions employed to help offset potential dilution

** Co has roughly $3.6 bln market cap, per LSEG data

** Shares, which finished up 9.8% at $6.47 on Weds, have risen past 10 sessions for about 130% gain. Over the past three months, they have rallied 522%

** All 9 analysts covering BITF are bullish and their median PT is $3, LSEG data shows

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))