-This is a required amendment based on the proposed Stronghold Digital Mining acquisition-
-US$127 million remains on the ATM-
This news release constitutes a "designated news release" for the purposes of the Company's amended and restated prospectus supplement dated October 4, 2024, to its short form base shelf prospectus dated November 10, 2023.
TORONTO, Ontario and BROSSARD, Québec, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX: BITF) ("Bitfarms", or the "Company") a global Bitcoin vertically integrated company, announces that it has filed an amended and restated prospectus supplement dated October 4, 2024 (the "A&R Prospectus Supplement"), amending and restating the prospectus supplement dated March 8, 2024 (the "March Supplement"), to the Company's existing US$375 million base shelf prospectus dated November 10, 2023 (the "Base Shelf Prospectus" and, together with the A&R Prospectus Supplement, the "A&R Prospectus").
As described in the Company's press release dated March 8, 2024, the Company previously entered into an at-the-market offering agreement (the "ATM Agreement") dated March 8, 2024 with H.C. Wainwright & Co., LLC (the "Agent") as agent, pursuant to which the Company has established an at-the-market equity program (the "ATM Program"). Pursuant to the ATM Program, the Company may, at its discretion and from time-to-time during the term of the ATM Agreement, sell, through the Agent, such number of common shares of the Company ("Common Shares") as would result in aggregate gross proceeds to the Company of up to US$375 million. Sales of Common Shares, if any, through the Agent will be made through "at-the-market" issuances, including without limitation, sales made directly on the Nasdaq Stock Market or another trading market for the shares in the United States at the market price prevailing at the time of each sale. No Common Shares will be offered or sold under the ATM Program on the TSX or any other trading market in Canada. The ATM Program may be terminated by either party at any time.
The Company intends to use the net proceeds of the ATM Program, if any, primarily on capital expenditures to support the growth and development of the Company's existing mining operations as well as for working capital and general corporate purposes.
Since the Common Shares will be distributed at trading prices prevailing at the time of the sale, prices may vary between purchasers and during the period of distribution. The volume and timing of sales, if any, will be determined at the sole discretion of the Company's management and in accordance with the terms of the ATM Agreement. To date, 109,323,321 Common Shares have been distributed by the Company for gross proceeds of approximately US$248 million pursuant to the ATM Agreement by means of the March Supplement.
The offer and sale of the Common Shares under the ATM Program will be made only by means of the A&R Prospectus included within the Company's U.S. registration statement on Form F-10 (File No. 333-272989) filed with the U.S. Securities and Exchange Commission on March 8, 2024 (the "Registration Statement"). The A&R Prospectus is available on the Company's SEDAR+ profile at and the A&R Prospectus and Registration Statement are available on the SEC's EDGAR website at www.sec.gov.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Bitfarms Ltd.
Founded in 2017, Bitfarms is a global vertically integrated Bitcoin data center company that contributes its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated data centers with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company's proprietary data analytics system delivers best-in-class operational performance and uptime.
Bitfarms currently has 12 operating Bitcoin data centers and two under development situated in four countries: Canada, the United States, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.
To learn more about Bitfarms' events, developments, and online communities:
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding the ATM Program and any sales of the Common Shares thereunder and proceeds to the Company therefrom, as well as the potential use of such proceeds, are forward-looking information. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "prospects", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on assumptions and estimates of management of the Company at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to: the construction and operation of the Company's facilities may not occur as currently planned, or at all; there is no guarantee that the Company will be able to complete the acquisition of Stronghold Digital Mining, Inc. on the terms as announced, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings; the risk that a material weakness in internal control over financial reporting could result in a misstatement of the Company's financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; any regulations or laws that will prevent Bitfarms from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to the Company's filings on (which are also available on the website of the U.S. Securities and Exchange Commission at www.sec.gov), including the MD&A for the year-ended December 31, 2023, filed on March 7, 2024. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by the Company. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
Investor Relations Contacts:
Tracy Krumme
SVP, Head of IR & Corp. Comms.
+1 786-671-5638
tkrumme@bitfarms.com
Media Contacts:
Québec: Tact
Louis-Martin Leclerc
+1 418-693-2425
lmleclerc@tactconseil.ca
-這是基於擬議的Stronghold Digital Mining收購的必要修正-
-在ATm上仍有US$12700萬-
這則新聞發佈構成了公司於2024年10月4日修正的和重新修訂前瞻書補充的指定新聞發佈，根據其於2023年11月10日的簡式基準計劃書的修正和重新修訂前瞻書補充。
多倫多，安大略省和魁北克省布羅薩德，2024年10月4日（環球新聞社） - 挖礦場有限公司（納斯達克/ TSX：BITF）（" Bitfarms"或" 公司"）一家全球比特幣垂直整合公司宣佈，已提交修訂後的招股書補充資料，日期爲2024年10月4日（"修訂後的招股書補充資料"），修訂並重述了2024年3月8日的招股書補充資料（" 三月補充資料"），公司現有的美元3.75億基礎招股書，日期爲2023年11月10日（" 基礎招股書"和修訂後的招股書補充資料一起構成" 修訂後的招股書"）。
根據公司於2024年3月8日發佈的新聞稿所述，公司先前已與H.C. Wainwright & Co., LLC（"代理商"）於2024年3月8日簽訂了一項市場發行協議（"ATm協議"），公司在此協議項下成立了一項市場發行權益計劃（"ATm計劃"）。根據ATm計劃，公司可以在ATm協議期限內自行決定並隨時通過代理商賣出公司的普通股（"普通股"），以使公司獲得最多3.75億美元的總募集資金。如有任何普通股的銷售，將通過代理商進行"市場發行"，包括但不限於在納斯達克證券交易所或其他美國股票買賣市場直接以當時的市場價格出售。在TSX或加拿大任何其他交易市場上不會根據ATm計劃提供或銷售任何普通股。ATm計劃可由任何一方隨時終止。
公司打算將ATm計劃的淨收益主要用於資本支出，以支持公司現有礦業業務的增長和發展，以及用於營運資金和一般公司用途。
由於普通股將以銷售時的交易價格分發，價格可能會因購買者不同而有所不同，並在分發期間發生變化。如有任何銷售，銷售的數量和時間將由公司管理層全權決定，並根據ATm協議的條款執行。截至目前，截至3月補充安排，公司已發行了109,323,321股普通股，總額約爲2.48億美元，根據ATm協議。
根據公司在2024年3月8日向美國證券交易委員會提交的F-10表格（文件編號333-272989）的美國註冊聲明中包含的A&R招股書進行的普通股發行和銷售將僅通過A&R招股書進行。公司的SEDAR+資料中提供了A&R招股書，招股書和註冊聲明均可在SEC的EDGAR網站www.sec.gov上找到。
此新聞發佈並非構成出售要約或購買要約，也不得在任何未經合法註冊或符合任何相關司法轄區的證券法之前，在該司法轄區內出售這些普通股。
Bitfarms Ltd.簡介
Bitfarms成立於2017年，是一家全球垂直整合的比特幣數據中心公司，將其計算能力貢獻給一個或多個挖礦池，並以比特幣形式接收支付。Bitfarms開發、擁有並運營具有內部管理、公司擁有電氣工程、安裝服務以及多個現場技術維修中心的垂直整合數據中心。該公司的專有數據分析系統提供最佳的運營性能和正常運行時間。
Bitfarms目前在四個國家（加拿大、美國、巴拉圭和阿根廷）擁有12個運營比特幣數據中心和兩個正在建設中的數據中心。由環境友好的水力發電和長期電力合同主導，Bitfarms致力於使用可持續和常常被低效利用的能源基礎設施。
請訪問Bitfarms了解更多事件，發展和在線社區。
聲明
投資公司證券應被視爲高度投機性。沒有證券交易所，證券委員會或其他監管機構批准或不批准此處所含的信息。多倫多證券交易所，納斯達克或任何其他證券交易所或監管機構均不承擔本發佈內容的充分性和準確性責任。
前瞻性聲明
本新聞稿包含一些"前瞻性信息"和"前瞻性陳述"(統稱爲"前瞻性信息")，這些信息是基於本新聞稿發佈日期的期望、估計和預測，並受加拿大和美國證券法的安全港保護。本發佈中關於ATm計劃、以及根據該計劃出售普通股和公司收益以及這些收益的潛在用途的陳述和信息屬於前瞻性信息。任何涉及對預測、期望、信念、計劃、展望、目標、假設、未來事件或表現的討論的陳述和信息(通常但並非總是使用"期望"、"不期望"、"預期"、"預計"、"不預計"、"計劃"、"預算"、"計劃內"、"預測"、"估計"、"前景"、"相信"或"打算"等短語，或表述某些行動、事件或結果"可能"或"可能"、"將"、"可能"或"將"發生或實現)均不是歷史事實的陳述，可能屬於前瞻性信息，旨在識別前瞻性信息。
此前瞻性信息基於公司管理層在其製作時的假設和估計，並涉及已知和未知的風險、不確定性和其他因素，這些因素可能導致公司的實際成果、表現或成就與該前瞻性信息所表達或暗示的任何未來成果、表現或成就大不相同。此類因素包括但不限於：公司設施的建設和運營可能不會按照當前計劃進行，或根本不會進行；公司可能無法按照宣佈的條款或根本不會完成對Stronghold Digital Mining, Inc.的收購；擴展可能不會如當前預期的那樣實現，或根本不會實現；數字貨幣市場；成功進行數字貨幣挖掘的能力；營收可能不會像當前預期的那樣增加，或根本不會增加；當前數字貨幣庫存可能無法盈利變現，或根本不會；數字貨幣價格下跌可能對運營產生重大負面影響；網絡難度增加可能對運營產生重大負面影響；數字貨幣價格的波動性；適用司法管轄區內供加密貨幣挖掘使用的水電資源預期增長和可持續性；無法維持可靠且經濟的電源以供公司運營加密貨幣挖掘資產的風險；公司電費成本上升、天然氣成本、貨幣匯率變化、能源限制或司法管轄區能源制度變更可能對公司盈利能力產生不利影響；完成當前和未來融資的能力；內部財務報告控制存在重大缺陷可能導致公司財務狀況失實，如果未能及時防止或檢測可能導致年度或中期合併財務報表實質錯報的風險；任何將阻止Bitfarms開展業務的法規或法律；數字貨幣的歷史價格以及能夠進行與歷史價格一致的數字貨幣挖掘；以及採用或擴大將阻止Bitfarms經營業務的任何法規或法律，或使其成本更高。有關這些和其他風險和不確定性的進一步信息，請參閱公司的報告(也可在美國證券交易委員會網站www.sec.gov上找到)，包括2023年12月31日年度報告中於2024年3月7日提交的管理層討論與分析報告。儘管公司已經嘗試確定可能導致實際結果與前瞻性陳述不符的重要因素，但可能有其他因素導致結果不如預期、估計或意圖那樣，包括目前公司未知或認爲不重要的因素。無法保證此類陳述將被證明準確，因爲實際結果和未來事件可能與此類陳述中所預計的大不相同。因此，讀者不應過度依賴任何前瞻性信息。公司除依法要求外，不承擔對任何前瞻性信息進行修訂或更新的義務。
投資者關係聯繫人：
Tracy Krumme
投資者關係與企業溝通總監
+1 786-671-5638
tkrumme@bitfarms.com
媒體聯繫人:
魁北克：戰術
Louis-Martin Leclerc
+1 418-693-2425
lmleclerc@tactconseil.ca
