Bitfarms Stock Is Tumbling After Hours: Why Investors Are Selling Shares

Group 1 - Bitfarms Ltd announced a convertible senior notes offering of $300 million due in 2031, with an option for initial purchasers to buy an additional $60 million [2] - The net proceeds from the offering will be used for general corporate purposes [2] - The offering follows a conversion of a previously announced private debt facility for up to $300 million from Macquarie, with an additional $50 million to be drawn to accelerate equipment purchases and advance AI development [3] Group 2 - As of June 30, Bitfarms reported approximately $85 million in cash [3] - The company is expected to report a loss of one cent per share and revenue of $80 million for the third quarter [4] - Bitfarms shares fell by 5.41% in after-hours trading, reaching $6.12 [4]