Bitcoin Mining, Bitfarms

Canadian bitcoin mining firm Bitfarms (BITF) closed a fully subscribed private placement of common shares worth CAD$20 million, or over $15 million.

  • Bitfarms announced the sale Sunday, per a prior release.
  • In total, the sale consisted of 8,888,889 shares.
  • CEO Emiliano Grodzki said, “It has never been such an exciting time to be a part of the cryptocurrency mining industry.” With miner manufacturers straining to meet the surging demand for new machines, he’s not wrong.
  • Shares of the Quebec-based company are trading hands at $3 currently, up nearly 500% in the past year.
  • Bitfarms has a current market value of $260 million with 85.72 million shares outstanding.

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