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.
Bitfarms Closes Its Second $15M Private Placement in a Week
Public cryptocurrency mining company Bitfarms (BITF) 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 their 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.
