Bitfarms (bitf) share price dropped 4% pre-market as such announced A proposed offering of $300 million in convertible senior notes due January 15, 2031, with an option for initial purchasers to purchase an additional $60 million within 13 days of issuance.
The notes, senior unsecured obligations, will pay interest semi-annually from July 15, 2026, and can be converted into cash, common shares, or a mix of both, depending on the company’s choice.
Conversion will stop before October 15, 2030, subject to certain conditions. The proceeds will be used for general corporate purposes and to fund capped call transactions designed to offset dilution up to 125% of Bitfarms share price at pricing.
Bitfarms shares have advanced 315% year to date and climbed 400% since the start of September due to the pivoting of AI Infrastructure Business Model.
