Bitfarms announces closing of c$60 million private placement with u.s. institutional investors

Toronto, ontario and brossard, quÉbec, nov. 28, 2023 (globe newswire) -- bitfarms ltd. (nasdaq: bitf//tsx: bitf), a global vertically integrated bitcoin mining company, is pleased to announce that it has closed its previously announced private placement of equity securities (the “offering”). the offering was for gross proceeds of approximately c$60 million and consisted of the sale of 44,444,446 common shares, along with warrants to purchase an aggregate of up to 22,222,223 common shares, at a purchase price of c$1.35 per common share and associated one-half warrant. the warrants have an exercise price of c$1.61 (us$1.17) per common share and exercise period of three years (through november 28, 2026). the funds were raised via a fully subscribed private placement of equity securities among u.s. institutional investors.
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