Bitfarms Secures Major Funding Deal with Macquarie to Launch $300M Panther Creek HPC Facility

Bitfarms Locks In $300M Deal With Macquarie to Power Panther Creek HPC Facility

Bitfarms (BITF) has landed a major financing agreement with Macquarie Equipment Capital Inc., securing up to $300 million to fund the development of its 500-megawatt high-performance computing (HPC) center in Panther Creek, Pennsylvania.

The partnership kicks off with an initial $50 million draw, which will go toward early development expenses and general corporate use. The remaining $250 million will be released in phases as key construction and operational milestones are reached, with those future tranches secured at the project level.

Each funding segment carries a two-year term and a fixed 8% annual interest rate. The first $50 million allows interest to be paid in kind for the first three months. Macquarie will also receive equity-linked warrants priced at a 25% premium to Bitfarms’ recent stock average, tied to future capital draws.

As part of the agreement, Bitfarms must maintain specific liquidity levels and adhere to standard financial covenants.

CEO Ben Gagnon underscored the strategic significance of Panther Creek, highlighting its access to diverse energy sources and its ideal location near major population centers—key advantages for scaling up HPC operations.

Bitfarms stock edged higher on the news, rising 1.44% to $0.81 in early U.S. trading.