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Bitfarms Launches $300M Convertible Note Offering, Shares Drop Pre-Market
Bitfarms share price has soared over 315% year to date, due to AI/HPC pivot.
Updated Oct 16, 2025, 10:14 a.m. Published Oct 16, 2025, 10:14 a.m.
What to know:
- Bitfarms plans to offer $300 million in convertible senior notes due 2031.
- Proceeds will fund general corporate purposes and capped call transactions designed to reduce dilution, with the notes convertible into cash, shares, or a mix of both.
Bitfarms (BITF) share price is down 4% pre-market as it announced a proposed offering of $300 million in convertible senior notes due Jan. 15, 2031, with an option for initial purchasers to buy an additional $60 million within 13 days of issuance.
The notes, senior unsecured obligations, will pay semi-annual interest from July 15, 2026, and can be converted into cash, common shares, or a mix of both, depending on the company's choice.
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Conversion will be restricted before Oct. 15, 2030, subject to certain conditions. Proceeds will be used for general corporate purposes and to fund capped call transactions designed to offset dilution up to 125% of Bitfarms’ share price at pricing.
Bitfarms shares have surged 315% year to date and are up 400% since the start of September due to pivoting the business model to AI infrastructure.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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