Bitfarms (BITF) Extends Losses on 5th Day, Mimics Bitcoin Drop

Group 1 - Bitfarms Ltd. (NASDAQ:BITF) has experienced a significant decline, extending its losing streak to five consecutive sessions, with a drop of 12.25% to close at $3.94 per share [1][3] - The company successfully raised $588 million through the issuance of convertible senior notes, which included $500 million in aggregate principal and an $88 million overallotment option [2][4] - The notes will mature in 2031, carrying an interest rate of 1.375%, with the first payment scheduled for July 2026 [3] Group 2 - In the event of stock conversion, each $1,000 note can be converted into 145.6876 common shares, equating to an initial conversion price of $6.86, representing a 30% premium over the closing price of $5.28 on October 16 [4] - Proceeds from the note issuance will be allocated to the development of high-performance computing and AI infrastructure in North America [4]