Summary by Futu AI
On October 4, 2024, Bitfarms Ltd., a global Bitcoin mining company, announced the filing of an amended and restated prospectus supplement to its existing at-the-market equity offering program (ATM Program). The amendment, which pertains to the company's US$375 million base shelf prospectus dated November 10, 2023, was made in connection with the proposed acquisition of Stronghold Digital Mining. Bitfarms has already distributed 109,323,321 common shares under the ATM Program, raising approximately US$248 million. The ATM Program allows Bitfarms to sell shares at market prices in the United States, with the intent to use the net proceeds for capital expenditures, growth of mining operations, working capital, and general corporate purposes. The company has emphasized that no common shares will be offered in Canada or on the TSX. The amended and restated prospectus supplement is available on SEDAR+ and the SEC's EDGAR website.