06:17 AM EDT, 10/17/2025 (MT Newswires) -- Bitfarms Ltd. ( BITF ) , a North American energy and digital infrastructure company, was at last look down 7% in US premarket trade Friday after announcing overnight that it has priced its offering of US$500 million aggregate principal amount of 1.375% convertible senior notes due 2031.

A statement noted Bitfarms ( BITF ) has also granted the initial purchasers of the convertible notes an option to buy, for a 13-day period beginning on and including the date on which the convertible notes are first issued, up to an additional $88 million aggregate principal amount of the notes. The aggregate principal amount of the offering was lifted from the prior announced offering size of $300 million (or $360 million if the initial purchasers exercise their option to purchase the option in full). The offering is expected to close, subject to customary closing conditions (including receipt of Toronto Stock Exchange approval), on or about October 21, 2025.

The company said it intends to use the net proceeds from the offering for general corporate purposes. Additionally, the company intends to use either net proceeds from this offering or cash on hand to pay the cost of capped call transactions.

BITF was down 18.5% in Canada and the United States yesterday.