Share this article

Bitcoin Miner Bitfarms Closes $15M Brokered Private Placement

Bitfarms announced the placement Sunday.

Updated Dec 12, 2022, 12:49 p.m. Published Jan 7, 2021, 3:00 p.m.

Canadian bitcoin mining firm Bitfarms (BITF)https://hashrateindex.com/stocks/bitf-cv closed a fully subscribed private placement of common shares worth CAD$20 million, or over US$15 million.

Bitfarms announced the sale Sunday, per a prior release.
In total, the sale consisted of 8,888,889 shares.
CEO Emiliano Grodzki said, "It has never been such an exciting time to be a part of the cryptocurrency mining industry." With miner manufacturers straining to meet the surging demand for new machines, he's not wrong.
Shares of the Quebec-based company are trading hands at $3 currently, up nearly 500% in the past year.
Bitfarms has a current market value of $260 million with 85.72 million shares outstanding.

STORY CONTINUES BELOW

Don't miss another story.Subscribe to the Crypto for Advisors Newsletter today. See all newsletters

By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

See also: Bitfarms: A Race Against Time

Bitcoin Mining Bitfarms

Zack Voell

Zack Voell is a financial writer with extensive experience in cryptocurrency research and technical writing. He has previously worked with leading cryptocurrency data and technology firms, including Messari and Blockstream. His work (and tweets) has appeared in The New York Times, Financial Times, The Independent and more. He owns bitcoin.