Peterson McVicar acts for Bitfarms in US$20 Million Loan Financing
On March 17, 2019 Bitfarms Ltd. (“Bitfarms” or the “Company”) announced that it had secured US$20,000,000 in strategic financing (the “Loan Financing”) to fund the Company’s ongoing operational expansion. The secured Loan Financing is being provided by New York-based Dominion Capital LLC (“Dominion”).
Funds from the Loan Financing will be used to pursue the Company’s expansion strategy which is underpinned by its large 162.5-megawatt portfolio of competitively priced green energy within the province of Québec.
Bitfarms owns and operates blockchain farms that power the global decentralized financial economy. Bitfarms provides computing power to cryptocurrency networks such as Bitcoin, earning fees from each network for securing and processing transactions.
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