11:01 AM EDT, 10/10/2025 (MT Newswires) -- Bitfarms Ltd. ( BITF ) , a North American energy and digital infrastructure company, said on Friday that it converted its previously announced private debt facility for up to US$300 million from Macquarie Group's Commodities and Global Markets business, to an up to US$300 million project-specific financing facility for the development of its data center campus in Panther Creek, Pennsylvania.

The company said that the facility is to fund phase 1 of Panther Creek data center development with energization expected by YE 2026.

A statement noted that the company will draw an additional US$50 million from the converted facility, subject to customary closing conditions, for a total of US$100 million drawn through closing, in order to accelerate long-lead time equipment purchases and advance HPC/AI development at its data center campus in Panther Creek, Pennsylvania.

"We intend to use this drawdown of an additional $50 million to fund civil works and substation construction at Panther Creek, which are on track to begin in Q4 2025," said Bitfarms ( BITF ), Chief Executive Officer, Ben Gagnon. "Converting the facility to the project level enables us to draw down on the full facility, accelerating our construction timelines, providing increased flexibility, and positioning us to capitalize on the substantial demand for HPC/AI infrastructure in Pennsylvania."

The company's shares were last seen up 14.8% to $6.74 on the Toronto Stock Exchange.

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