BitOne Capital | Public cryptocurrency mining company Bitfarms (BITF) closed its second private placement of shares Wednesday worth CAD$20 million, or over US$15 million, a week after closing another $15 million placement.

January 14, 2021

by Zack Voell in Most Useful

| 216 views | January 14, 2021 | 2:08 am

The sale consisted of 5,586,593 common shares, per a release, over 3 million fewer shares than its first placement.
The proceeds will fund the acquisition of additional mining machines and the expansion of its mining facilities.
Shares of the Quebec-based company are trading hands at $4.37 currently, up more than 45% from the price when Bitfarms closed its first placement.
Bitfarms has a current market value of $374 million with over 85 million shares outstanding, per data from Ycharts.

Public cryptocurrency mining company Bitfarms (BITF) closed its second private placement of shares Wednesday worth CAD$20 million, or over US$15 million, a week after closing another $15 million placement.