Bitcoin mining company Bitfarms submitted a $300 million Convertible Bond issuance application.

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On October 16, The Block reported that the Bitcoin mining and digital infrastructure company Bitfarms Ltd. is planning to issue a batch of Convertible Bonds to raise $300 million. These Convertible Bonds can be converted into cash, company common stock, or a combination of both at the option of Bitfarms. The bonds are unsecured, have a maturity date in 2031, and will pay interest semi-annually starting from July 2026. Bitfarms stated that the raised funds will be used for general corporate purposes, including "cap options trading" to hedge against equity dilution resulting from the bond conversion. The company intends to reach private agreements with some bond purchasers to limit the dilution cap at a premium level of approximately 125% of the current stock price.

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