-US$87 million remains on the ATM-
This news release constitutes a "designated news release" for the purposes of the Company's second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.
TORONTO, Ontario and BROSSARD, Québec, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX: BITF) ("Bitfarms", or the "Company") a global Bitcoin vertically integrated company, announces that it has filed a second amended and restated prospectus supplement dated December 17, 2024 (the "Second A&R Prospectus Supplement"), amending and restating the prospectus supplement dated March 8, 2024 (the "March Supplement"), as first amended and restated by the prospectus supplement dated October 4, 2024 (the "October Supplement") to the Company's existing US$375 million base shelf prospectus dated November 10, 2023 (the "Base Shelf Prospectus" and, together with the Second A&R Prospectus Supplement, the "A&R Prospectus"). The Company is filing this Second A&R Prospectus Supplement to incorporate updated pro forma financial statements in respect of the proposed merger between the Company and Stronghold Digital Mining, Inc. ("Stronghold"), as first announced on August 21, 2024, and Stronghold's financial statements for the three and nine months ended September 30, 2024.
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. There is US$87 million remaining on the ATM. 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, 128,888,346 Common Shares have been distributed by the Company for gross proceeds of approximately US$288 million pursuant to the ATM Agreement by means of the March Supplement and October Supplement, in the aggregate.
The offer and sale of the Common Shares under the ATM Program will be made only by means of the Second 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 mining facilities 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 restated MD&A for the year-ended December 31, 2023, filed on December 9, 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:
U.S.: Joele Frank, Wilkinson Brimmer Katcher
Dan Katcher or Joseph Sala
+1 212-355-4449
Québec: Tact
Louis-Martin Leclerc
+1 418-693-2425
lmleclerc@tactconseil.ca
-US$8700萬仍然在ATm上-
本新聞稿構成公司的第二次修訂和重述招股說明書補充文件的"指定新聞稿"，該招股說明書補充文件於2024年12月17日提交，基於其於2023年11月10日的短期基礎貨架招股說明書。
加拿大安大略省多倫多及魁北克省布羅斯薩爾，2024年12月17日 (全球新聞網) -- Bitfarms Ltd. (納斯達克/TSX: BITF) ("Bitfarms"或"公司")是一家全球比特幣垂直整合公司，宣佈已提交2024年12月17日的第二次修訂和重述招股說明書補充文件 ("第二次A&R招股說明書補充文件")，修訂和重述了2024年3月8日的招股說明書補充文件 ("三月補充文件"), 首次由2024年10月4日的招股說明書補充文件 ("十月補充文件") 修訂和重述至當前公司現有的37500萬美元基礎貨架招股說明書，該基礎貨架招股說明書於2023年11月10日形成 ("基礎貨架招股說明書"，與第二次A&R招股說明書補充文件共同稱爲"A&R招股說明書")。公司提交此第二次A&R招股說明書補充文件以納入關於公司與Stronghold Digital Mining, Inc. ("Stronghold")之間擬議合併的更新的財務報表，首次於2024年8月21日公告，並納入Stronghold截至2024年9月30日的三個月和九個月的財務報表。
正如公司於2024年3月8日發佈的新聞稿中所述，公司之前與H.C. Wainwright & Co., LLC ("代理商")簽署了一份市場上的發行協議 ("ATm協議")，協議日期爲2024年3月8日，根據該協議，公司已建立一項市場上的股本計劃 ("ATm計劃")。根據ATm計劃，公司可以在ATm協議的有效期內，按照自身的判斷在不定時出售由代理商銷售的公司普通股 ("普通股")，以使公司獲得總共不超過37500萬美元的毛收入。ATm上剩餘8700萬美元。通過代理商銷售的普通股，如有，將通過"市場"發行進行，包括但不限於直接在納斯達克證券市場或美國其他交易市場以每次銷售時的市場價格進行的銷售。根據ATm計劃，不會在TSX或加拿大其他交易市場上提供或出售普通股。ATm計劃可由任何一方在任何時候終止。
公司打算將ATm計劃的淨收益（如有）主要用於資本支出，以支持公司現有礦業運營的增長和發展，以及用於營運資金和一般企業目的。
由於普通股將以銷售時的交易價格進行分配，價格可能會在購買者之間以及分配期間有所不同。銷售的成交量和時間（如有）將完全由公司管理層自行決定，並且根據ATm協議的條款進行。迄今爲止，公司已根據ATm協議通過3月附錄和10月附錄分配了128,888,346股普通股，所得總額約爲28800萬美元。
普通股在ATm計劃下的報價和銷售將僅通過公司在2024年3月8日向美國證券交易委員會提交的美國註冊聲明F-10（文件編號：333-272989）中包含的第二次A&R招股說明書進行。A&R招股說明書可在公司的SEDAR+檔案上獲得，A&R招股說明書和註冊聲明可在SEC的EDGAR網站www.sec.gov上獲取。
本新聞稿不構成銷售要約或買入要約的徵求，也不應在任何法律規定該要約、徵求或銷售違法的管轄區銷售這些普通股，註冊或資格認定前。
關於Bitfarms有限公司。
Bitfarms成立於2017年，是一家全球垂直整合的比特幣IDC概念公司，提供計算能力給一個或多個礦池，並以比特幣獲得支付。Bitfarms開發、擁有和運營垂直整合的礦業設施，擁有內部管理、公司擁有的電氣工程、安裝服務以及多個現場技術維修中心。公司的專有數據分析系統提供一流的運營性能和正常運行時間。
Bitfarms目前在四個國家擁有12個運營中的比特幣IDC概念，另有兩個在開發中，分別位於加拿大、美國、巴拉圭和阿根廷。Bitfarms主要依靠環保的水電和長期電力合同，致力於使用可持續且常常未充分利用的能源基礎設施。
要了解更多關於Bitfarms的事件、發展和在線社區：
警示聲明
本公司的證券交易應被視爲高度投機。沒有任何證券交易所、證券委員會或其他監管機構批准或拒絕此處包含的信息。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不對本發佈的充分性或準確性承擔責任。
前瞻性聲明
本新聞發佈包含某些「前瞻性信息」和「前瞻性聲明」（統稱「前瞻性信息」），這些信息基於發佈日期的預期、估計和預測，並受加拿大和美國證券法的安全港保護。此發佈中關於ATM計劃及其下的普通股銷售及公司從中獲得的收益，以及對這些收益的潛在使用的聲明和信息屬於前瞻性信息。涉及對預測、預期、信念、計劃、預測、目標、假設、未來事件或表現的討論（通常但不總是使用如「預期」或「未預期」、「預計」、「預想」或「未預想」、「計劃」、「預算」、「預定」、「預測」、「估算」、「前景」、「相信」或「打算」及這些詞語或短語的變體，或表示某些行動、事件或結果「可能」或「能夠」、「會」、「可能」或「將」發生或實現的聲明）並非歷史事實的陳述，可能是前瞻性信息，旨在識別前瞻性信息。
這些前瞻性信息是基於公司管理層在作出假設和估算時的情況，涉及已知和未知的風險、不確定性以及其他因素，這些因素可能會導致公司的實際結果、業績或成就與該等前瞻性信息所表達或暗示的未來結果、業績或成就有顯著不同。這些因素包括但不限於與以下方面相關的風險：公司的設施的施工和運營可能不會按照目前計劃進行，或者根本不會發生；沒有保證公司能夠按照公告的條款完成對Stronghold Digital Mining, Inc.的收購，或者根本無法完成；擴展可能不會如目前預期那樣實現，或者根本不會實現；數字貨幣市場；成功挖掘數字貨幣的能力；營業收入可能不會如目前預期那樣增加，或者根本不會增加；當前數字貨幣庫存的盈利清算可能無法實現，或者根本無法實現；數字貨幣價格的下跌可能對運營產生重大負面影響；網絡難度的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；爲進行數字貨幣挖掘而預計的水電增長和可持續性在適用司法轄區內；無法爲公司運營數字貨幣挖掘資產保持可靠和經濟的電力來源；公司電力成本、天然氣成本的增加、匯率變化、能源削減或公司運營所在司法轄區內能源管理的監管變化及其對公司盈利能力的不利影響；完成當前和未來融資的能力；內部財務報告控制中的重大缺陷可能導致公司財務狀況的錯誤陳述，如果不在及時基礎上加以防止或發現，可能導致年度或中期合併財務報表的重大錯誤陳述；任何將阻止Bitfarms運營其業務的法規或法律；數字貨幣的歷史價格以及挖掘數字貨幣的能力是否符合歷史價格；以及採用或擴展任何將阻止Bitfarms運營其業務的法規或法律，或使其運營成本增加。有關這些及其他風險和不確定性的更多信息，請參閱公司在（也可在美國證券交易委員會網站www.sec.gov上獲取）的文件，包括在2024年12月9日提交的截至2023年12月31日年度的重新表述的MD&A。儘管公司已嘗試識別可能導致實際結果顯著不同於前瞻性聲明中的重要因素，但仍可能存在其他因素導致結果未如預期、估算或意圖，包括公司目前未知或視爲不重要的因素。不能保證這些聲明將被證明是準確的，因爲實際結果和未來事件可能與這些聲明中的預期顯著不同。因此，讀者不應過於依賴任何前瞻性信息。除法律要求的情況外，公司不承擔修訂或更新任何前瞻性信息的義務。
投資者關係聯繫方式：
Tracy Krumme
高級副總裁，投資者關係及公司傳播主管。
+1 786-671-5638
tkrumme@bitfarms.com
媒體聯繫人:
美國：喬爾·弗蘭克，威爾金森·布里默·卡徹
丹·卡徹或約瑟夫·薩拉
+1 212-355-4449
魁北克：Tact
路易-馬丁·勒克萊爾
+1 418-693-2425
lmleclerc@tactconseil.ca
