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Bitfarms | SUPPL: Voluntary supplemental material filed pursuant to Section 11(a) of the Securities Act of 1933 by foreign issuers

SEC announcement ·  Mar 8 17:03
Summary by Moomoo AI
Bitfarms Ltd., a cryptocurrency mining company, has announced the availability of up to US$375,000,000 in securities, which may include common shares, warrants, subscription receipts, units, debt securities, and share purchase contracts. This offering will be conducted under a short form base shelf prospectus and may be accompanied by prospectus supplements detailing specific terms. The securities may be offered in various transactions at fixed or non-fixed prices, including at-the-market distributions. The proceeds are intended for general corporate purposes, such as funding operations, repaying debt, and potential acquisitions to increase mining capacity. The company's common shares are traded on the Nasdaq and TSX under the symbol 'BITF'. Bitfarms operates server farms in multiple jurisdictions, including emerging markets like...Show More
Bitfarms Ltd., a cryptocurrency mining company, has announced the availability of up to US$375,000,000 in securities, which may include common shares, warrants, subscription receipts, units, debt securities, and share purchase contracts. This offering will be conducted under a short form base shelf prospectus and may be accompanied by prospectus supplements detailing specific terms. The securities may be offered in various transactions at fixed or non-fixed prices, including at-the-market distributions. The proceeds are intended for general corporate purposes, such as funding operations, repaying debt, and potential acquisitions to increase mining capacity. The company's common shares are traded on the Nasdaq and TSX under the symbol 'BITF'. Bitfarms operates server farms in multiple jurisdictions, including emerging markets like Argentina and Paraguay, which exposes the company to certain risks such as political instability and changes in regulations. The company's financial condition and results have been significantly affected by the volatile cryptocurrency market, particularly Bitcoin prices. Bitfarms has experienced rapid growth and plans to expand operations by acquiring new mining equipment and facilities. However, this expansion is subject to raising additional capital, which may not be available on favorable terms. The company's operations are also subject to environmental regulations and potential cybersecurity threats. The offering may involve secondary sales by certain shareholders, and the company may not receive any proceeds from such sales. The company's debt securities may be unsecured and could be subordinated to other debt. The specific terms of any debt securities, including interest rates and maturity dates, will be detailed in the relevant prospectus supplements. Bitfarms' future profitability is uncertain due to the unpredictable nature of cryptocurrency prices and network difficulty.

This announcement is a separate document:

Doc 1

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