Bitcoin mining company Bitfarms reached a private placement subscription agreement of approximately US$43.99 million with US institutional investors

2023-11-24 22:29:59BlockBeatsShare to:

BTC+1.26% ($37,644.29)

BlockBeats news, on November 24, according to GlobeNewswire reports, Bitcoin mining company Bitfarms announced that it has reached a subscription agreement with certain institutional investors to conduct private placements in the United States, with a total raised of approximately 60 million Canadian dollars (approximately US$43.99 million). It includes 44,444,446 ordinary shares and warrants to purchase up to 22,222,223 ordinary shares in total, with an exercise period of 3 years. The net proceeds from this private placement will be used primarily to acquire more mining companies, expand infrastructure and improve its working capital position. The private placement is expected to close on or about November 28, 2023.

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