Bitfarms closes $37 million in new equipment financing, reduces credit facility

Chicago, June 21 – Bitfarms Ltd. raised $100 million from $62 million in a Bitcoin offering and $37 million in new equipment financing with NYDIG ABL LLC, according to a press release.

Proceeds will be used to rebalance the company’s debt by reducing its BTC-backed credit facility with Galaxy Digital LLA a further $28 million, bringing it down to $38 million from $66 million.

Toronto-based Bitfarms is a self-mining company with five industrial scale facilities located in Quebec and one in Washington state.

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