11:50 AM EST, 12/18/2024 (MT Newswires) -- (Updates shares.)

Bitfarms ( BITF ) late on Tuesday said it filed a second amended and restated prospectus supplement to a US$375 million base shelf prospectus in relation to a proposed merger with Stronghold Digital Mining.

The bitcoin miner said the filing incorporates updated pro forma financial statements for the proposed merger and Stronghold's financial statements for the three and nine months ended Sept. 30.

Bitfarms ( BITF ) previously established an at-the-market equity program to sell US$375 million of shares. There is US$87 million remaining on the program.

Proceeds from the program will be used to support the growth and development of Bitfarms' ( BITF ) existing mining operations, as well as for working capital and general corporate purposes.

Bitfarms ( BITF ) shares were last seen down $0.13 to $2.85 on the Toronto Stock Exchange.

Price: 2.85, Change: -0.13, Percent Change: -4.36