Share this article
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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin's breakout lifts crypto equities and miners in pre-market trading
Bitcoin pushes above $92,000 as stocks tied to crypto, AI mining, and metals rally in pre market trading.
What to know:
- Bitcoin breaks above $92,000, briefly touching $93,000.
- Strategy (MSTR) rises 3.5% to $163 ahead of a potential bitcoin purchase announcement.
- AI-linked miners CIFR, IREN, and HIVE extend strong gains.
- Gold, silver, and the DXY index continue to strengthen following weekend Venezuela US developments.
Top Stories
