💰💼 Bitfarms Bags $300M Loan: AI & Data Centers Rejoice! 💻🚀

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In a twist of fate, the Canadian Bitcoin miners over at Bitfarms have managed to ensnare a juicy $300 million loan from the Aussies at Macquarie. It seems the allure of developing a data center is just too hard to resist.

Bitfarms, with a sly grin and a twinkle in their eye, inked an initial deal for a cool $300 million to throw at their Panther Creek project in Pennsylvania. Who knew mining could be so…expensive?

On the 2nd of April, the company made a grand announcement: they’ve got the first $50 million, and the rest is just a few milestones away. Bitfarms CEO Ben Gagnon is positively beaming, calling this partnership a “pivotal moment” in the AI revolution. Power and infrastructure, it seems, are the new gold.

“Each facility will mature in two years, like a fine wine, and will bear interest at a princely rate of 8% per annum. The first $50 million is a free ride for three months—what a deal!”

Bitfarms, probably chuckling to themselves

Joshua Stevens from Macquarie couldn’t help but gloat about the location—just a stone’s throw from New York City and Philadelphia. No wonder Bitfarms’ shares got a little boost on Nasdaq. 📈

And if that wasn’t enough, Bitfarms recently swallowed up Stronghold Digital Mining in an all-stock merger. Stronghold shareholders got a sweet 2.52 Bitfarms shares for every one of theirs. Now, that’s a feast!

Crypto.news reported the deal, noting the issuance of nearly 60 million shares and over 10.5 million warrants. Stronghold’s stock, however, is now nothing but a memory on Nasdaq. Farewell, old friend.

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2025-04-02 15:25