Canadian Bitcoin Mining Company Bitfarms Secures C$60 Million Investment from U.S. Institutional Investors

Canadian Bitcoin mining company Bitfarms has received a C$60 million investment from US institutional investors, which will be used for strategic enhancements such as acquiring additional cryptocurrency miners, expanding infrastructure, and strengthening working capital. In a calculated move, Bitfarms will issue 44,444,446 common shares, each priced at C$1.35, and warrants for purchasing up to 22,222,223 common shares. Recent events, such as the US government's $4 billion settlement with Binance and growing anticipation surrounding the SEC's approval of the US's first spot Bitcoin ETF, have contributed to fostering greater trust in the crypto space and propelling significant gains in cryptocurrencies like Bitcoin and Ethereum.