Bitfarms Enters into Initial Agreement for Private Debt Facility with a division of Macquarie Group for up to $300 Million to Fund Initial HPC Project Development at Panther Creek
Summary
Initial draw at close of $50 million, with up to a total of $300 million available upon entry into definitive project loan documentation Early-stage investment from a division of Macquarie Group, one of the worlds largest infrastructure investors, further validates the attractiveness of Bitfarms potential HPC data center development pipeline, especially its near-term project at Panther Creek A $300 million facility is expected to provide the necessary capital for Bitfarms to fund the initial portion of the Panther Creek data center development and buildout in a non-dilutive mannerThis news release constitutes a designated news release for the purposes of the Companys amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.TORONTO, Ontario and BROSSARD, Qu\xe9bec, April 02, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX: BITF), a global energy and compute infrastructure company (Bitfarms or the Company), announced today that the Company has entered into an initial agreement for a private debt facility for up to $300 million from Macquarie Equipment Capital, Inc., a division of Macquarie Groups Commodities and Global Markets business (Macquarie). This partnership marks the beginning of our investment in the near-term development of our Panther Creek data center, strategically located in Pennsylvanias PJM region within close proximity to Philadelphia and NYC metropolitan areas. "Joshua Stevens, Associate Director, Macquarie Groups Commodities and Global Markets business, said, We are proud to partner with Bitfarms and look forward to supporting the continued development of its innovative Panther Creek project, as well as future infrastructure that will be essential to the advancement of AI. The $50 million initial tranche of the facility, which is earmarked for project development soft costs and other general corporate purposes, is at the parent level and is secured by a first priority lien on all assets of the U.S. and Canadian guarantors and the borrower, with customary exclusions. The statements and information in this release regarding the completion of definitive documentation relating to the second tranche of the facility and the draw of an additional $250 million in funds, the development of the Companys Panther Creek data center, its potential capacity, and its attractiveness to potential HPC customers, and other statements regarding future growth, plans and objectives of the Company are forward-looking information.Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as expects, or does not expect, is expected, anticipates or does not anticipate, plans, budget, scheduled, forecasts, estimates, prospects, believes or intends or variations of such words and phrases or stating that certain actions, events or results may or could, would, might or will be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.This forward-looking information is based on assumptions and estimates of management of Bitfarms at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Bitfarms to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.