On May 17, 2021 (“Bitfarms”, or the “Company”) announced that it had entered into subscription agreements with certain institutional investors for gross proceeds of approximately CAD$75.0 million in a private placement in the United States, comprised of 14,150,944 common shares at CAD$5.30 per common share along with warrants to purchase an aggregate of up to 10,613,208 common shares.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the private placement in the United States.

Founded in 2017, Bitfarms is a Bitcoin mining company, running vertically integrated mining operations with onsite technical repair, proprietary data analytics and Company-owned electrical engineering and installation services to deliver high operational performance and uptime.

Peterson McVicar LLP acted for Bitfarms Ltd with a team that included Dennis Peterson, Jonathan Clark and Jude Gee.