Bitfarms Down 30% In 1 Week Despite $588M Raise: Will $4 Be Support?
Posted On October 22, 2025
Bitfarms Ltd. (NASDAQ:BITF) shares are trading just above $4 after a sharp correction from this month’s highs, as the Bitcoin miner and infrastructure firm completed a $588 million convertible notes offering.
Bitfarms Raises $588 Million, Strengthens Balance Sheet
The company announced on Monday that it closed an upsized $588 million issuance of 1.375% convertible senior notes due 2031.
This includes an $88 million option exercised by initial purchasers.
The raise marks Bitfarms’ debut in the convertible bond market.
CEO Ben Gagnon said the transaction attracted institutional partners while minimizing dilution through a 125% capped-call structure.
“We now have the financial firepower and flexibility to move forward …
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