05:34 PM EDT, 10/21/2025 (MT Newswires) -- Bitfarms ( BITF ) said late Tuesday it closed a $588 million offering of 1.375% convertible senior notes due 2031.

The offering includes the full exercise by underwriters to purchase up to an additional $88 million of the notes, according to a statement.

Net proceeds of around $568 million will be used to cover the cost of capped call transactions and for general corporate purposes, the company said.

Shares of Bitfarms ( BITF ) fell more than 3.3% during after-hours activity.