Bitcoin Miner Bitfarms Closes $15M Brokered Private Placement

Canadian bitcoin mining firm Bitfarms (BITF) closed a fully subscribed private placement of common shares worth CAD$20 million, or over US$15 million.

• Bitfarms announced the sale Sunday, per a prior release.
• In total, the sale consisted of 8,888,889 shares.
• CEO Emiliano Grodzki said, “It has never been such an exciting time to be a part of the cryptocurrency mining industry.”With miner manufacturers straining to meet the surging demand for new machines, he’s not wrong.
• Shares of the Quebec-based company are trading hands at $3 currently, up nearly 500% in the past year.
• Bitfarms has a current market value of $260 million with 85.72 million shares outstanding.

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