Bitfarms Announces $300 Million Convertible Note Sale as Shares Slide in Pre-Market Trade

Bitfarms Stock Slips Pre-Market After Announcing $300M Convertible Note Offering Despite 315% YTD Surge

Bitfarms (BITF) shares fell 4% in pre-market trading on Thursday after the company unveiled plans to issue $300 million in convertible senior notes due January 15, 2031. The offering also includes an option for initial purchasers to buy up to an additional $60 million within 13 days of issuance.

The senior unsecured notes will carry semi-annual interest payments beginning July 15, 2026, and may be converted into cash, common shares, or a combination of both—at the company’s discretion. Conversion rights will remain limited until October 15, 2030, except under certain conditions.

Bitfarms said it intends to use the proceeds for general corporate purposes and to fund capped call transactions aimed at reducing potential dilution up to 125% of the share price at the time of pricing.

Despite the pullback, Bitfarms’ stock has been one of the year’s standout performers—up over 315% year to date and more than 400% since early September—driven by the company’s strategic pivot toward AI and high-performance computing (HPC) infrastructure.

  • Related Posts

    Binance expands its platform with a prediction market offering for millions of users.

    Binance has added a prediction markets feature to its Binance Wallet, enabling users to trade on real-world event outcomes directly within the app. The integration links Binance Wallet to Predict.fun,…

    Continue reading
    Bhutan has reportedly divested 70% of its Bitcoin over the past 18 months and may have paused or ended BTC mining.

    Bhutan is steadily exiting one of the most closely watched sovereign bitcoin strategies, continuing a measured reduction in its holdings. The kingdom’s reserves have declined from roughly 13,000 BTC in…

    Continue reading