Bitcoin mining company Bitfarms plans to issue $300 million in convertible bonds

Jinse Finance reported that Bitcoin mining and digital infrastructure company Bitfarms (BITF) announced its plan to issue $300 million in unsecured convertible bonds, maturing in 2031, with interest paid semi-annually starting from July 2026. The bonds can be converted into cash or common stock at the company's discretion. The funds raised will be used for general corporate purposes, including hedging against potential dilution risks arising from the conversion of convertible bonds. Bitfarms recently appointed veteran energy advisor Jonathan Mir as Chief Financial Officer and plans to relocate to the United States. Previously, the company completed a repurchase of 10% of its outstanding shares. Convertible bonds have become a new trend for low-cost financing among mining companies, with Cipher Mining and TeraWulf recently raising funds through similar means.