Summary by Moomoo AI
On March 8, 2024, Bitfarms Ltd. announced the establishment of an at-the-market equity program (ATM Program) with H.C. Wainwright & Co., LLC, allowing for the sale of common shares up to US$375 million. The sales will be made on the Nasdaq Stock Market or other U.S. trading markets at prevailing market prices. No sales will occur on the TSX or other Canadian markets. The ATM Program may be terminated by either party at any time. Bitfarms intends to use the net proceeds for capital expenditures to support growth and development of mining operations, working capital, and general corporate purposes. The offering will be made by means of a prospectus supplement to the company's existing shelf prospectus and U.S. registration statement. The announcement does not constitute an offer to sell or a solicitation of an offer to buy in any jurisdiction where such offer or sale would be unlawful.