Bitfarms soars 13% as it draws additional $50 million from Macquarie debt facility

Core Insights - Bitfarms (BITF) shares increased by 13% following the announcement of converting a private debt facility into a project-specific loan of up to $300 million for its Panther Creek campus [1][3] - The company has drawn an additional $50 million to expedite equipment orders and initiate civil works and substation construction [1] - The original facility, arranged through Macquarie, is now dedicated to the Panther Creek campus, allowing Bitfarms to access the full $300 million commitment [2] Financial Details - The company has drawn $100 million at close, which is $50 million more than previous draws [2] - The plan is to energize Phase 1 of the Panther Creek campus by the end of 2026, with groundbreaking scheduled for Q4 2025 [2] Strategic Implications - CEO Ben Gagnon stated that the conversion to a project-level structure will accelerate construction timelines, provide increased flexibility, and position the company to meet the growing demand for HPC/AI infrastructure in Pennsylvania [3]