Bitfarms Secures $300M Financing Deal with Macquarie for Panther Creek HPC Expansion

Bitfarms (BITF) has announced a significant financing agreement with Macquarie Equipment Capital, Inc.—a division of the Macquarie Group—to fund the development of its high-performance computing (HPC) facility in Panther Creek, Pennsylvania. The total facility is valued at up to $300 million.

The initial $50 million tranche, already drawn at the parent level, will be used to cover early-stage development costs and general corporate needs. The remaining $250 million will be accessible upon meeting specific project milestones, at which point the financing transitions into a fully secured, project-level structure.

Each tranche under the deal carries a two-year term with an annual interest rate of 8%. For the initial drawdown, interest will be paid in kind for the first three months. Macquarie also received equity-linked warrants tied to future draws, priced at a 25% premium to Bitfarms’ recent trading average.

Bitfarms has committed to maintaining minimum liquidity thresholds and complying with standard covenants under the agreement.

CEO Ben Gagnon emphasized Panther Creek’s strategic value, citing its access to reliable, multi-source power and proximity to major U.S. urban centers, making it a strong candidate for scalable HPC operations.

Following the announcement, Bitfarms shares were trading up 1.44% at $0.81 in early U.S. market action.