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2.46%Bitfarms Closes Its Second $15M Private Placement in a Week
Bitfarms was able to sell far few shares for the same amount of proceeds thanks to a 45% rise in its stock price in the last week.
Public cryptocurrency mining company Bitfarms (BITF)https://hashrateindex.com/stocks/bitf-cv closed its second private placement of shares Wednesday worth CAD$20 million, or over US$15 million, a week after closing another $15 million placement.
- The sale consisted of 5,586,593 common shares, per a release, over 3 million fewer shares than its first placement.
- The proceeds will fund the acquisition of additional mining machines and the expansion of its mining facilities.
- Shares of the Quebec-based company are trading hands at $4.37 currently, up more than 45% from the price when Bitfarms closed its first placement.
- Bitfarms has a current market value of $374 million with over 85 million shares outstanding, per data from Ycharts.
Read more: Bitcoin Miner Bitfarms Closes $15M Brokered Private Placement
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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.
