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Bitfarms announces a $44 million private placement with U.S. investors to expand its Bitcoin mining infrastructure and strengthen its working capital. Bitfarms Ltd., a Canadian Bitcoin mining company, has initiated a private placement deal with U.S. institutional investors to raise approximately $44 million ($60 million CAD). This strategic deal, set to
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The Canadian Bitcoin (BTC) mining firm Bitfarms has been actively scaling operations, significantly increasing the amount of mined BTC last month.Bitfarms mined a total of 411 bitcoins in September 2023 up 7.3% from the amount mined in previous month, the company announced in its latest mining updated on Oct. 2.Out
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“Paraguay has access to an abundance of surplus renewable power, and these acquisitions secure valuable, yet limited, sustainable energy contracts while broadening our foothold in a resource-rich country,” Geoff Morphy, CEO of Bitfarms, said in a statement. Source
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In Q1 2023, the bitcoin miner's net loss per share narrowed to 1 cent, from 8 cents the previous quarter. Source
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Bitcoin (BTC) miner Bitfarms has settled its debt obligations with BlockFi, closing the chapter on its short relationship with the bankrupt cryptocurrency lender. On Feb. 9, Bitfarms disclosed that it had settled its $21 million debt obligations with BlockFi for a single $7.75 million cash payment. The settlement was reached weeks
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“Lowering our debt nearly 85% from a high of $165 million in June 2022 to $25 million today has significantly decreased principal and interest obligations, which boosts our cash flow and positions us well for future growth," Bitfarms CEO Jeff Lucas said in the Thursday press release. Source
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Bitcoin (BTC) mining company Bitfarms has unveiled plans to modify an existing loan agreement with BlockFi — a move the company said would reduce its indebtedness amid the bear market.On Jan. 13, Bitfarm disclosed that it is working with creditors to modify a loan agreement for Backbone Mining Solutions, or
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The outsanding $20 million are secured by only $5 million. Original Source
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"In a little over two years, Geoff helped transform Bitfarms from a purely Canadian company trading on the TSX Venture Exchange with five farms in Quebec to an international powerhouse traded on both the Nasdaq and TSX with ten operating farms in four countries driving over 4.4 exahash/second (EH/s) today,"
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The Canadian Bitcoin (BTC) mining firm Bitfarms is facing compliance challenges over its listing on Nasdaq due to the ongoing cryptocurrency winter.Bitfarms received a warning notification from Nasdaq on Dec. 13 because the company’s share price has stayed below $1 for 30 consecutive working days.Announcing the news on Dec. 14, Bitfarms
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