-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
-自动柜员机上还有8700万美元-
就公司于2024年12月17日发布的2023年11月10日简短基本架构招股说明书的第二份修订和重述的招股说明书补充文件而言，本新闻稿构成 “指定新闻稿”。
安大略省多伦多和魁北克布罗萨德，2024年12月17日（GLOBE NEWSWIRE）——全球比特币垂直整合公司Bitfarms Ltd.（纳斯达克/多伦多证券交易所股票代码：BITF）（“Bitfarms” 或 “公司”）宣布，它已于2024年12月17日提交了第二份经修订和重述的招股说明书补充文件（“第二份A＆R招股说明书补充文件”），进行了修订和重述 2024年3月8日的招股说明书补充文件（“三月补充文件”），该补充文件最初由2024年10月4日的招股说明书补充文件（“十月补充文件”）对公司现有375美元进行了修订和重述2023年11月10日的百万基础货架招股说明书（“基本货架招股说明书”，以及第二份A＆R招股说明书补充文件，“A＆R招股说明书”）。该公司正在提交第二份A＆R招股说明书补充文件，以纳入2024年8月21日首次公布的公司与Stronghold Digital Mining, Inc.（“Stronghold”）拟议合并的最新预计财务报表，以及Stronghold截至2024年9月30日的三个月和九个月的财务报表。
正如公司2024年3月8日的新闻稿中所述，公司此前与H.C. Wainwright & Co., LLC（“代理人”）作为代理人于2024年3月8日签订了市场发行协议（“aTm协议”），根据该协议，公司制定了市场股票计划（“aTm计划”）。根据AtM计划，公司可自行决定在自动柜员机协议期限内不时通过代理出售一定数量的公司普通股（“普通股”），这将使公司的总收益总额达到3.75亿美元。自动柜员机上还剩下8700万美元。通过代理人出售普通股（如果有）将通过 “在市场上” 发行，包括但不限于直接在纳斯达克股票市场或美国其他交易市场上按每次出售时的市场价格出售股票。在多伦多证券交易所或加拿大任何其他交易市场上，将不会根据aTm计划发行或出售普通股。任何一方均可随时终止 aTm 计划。
公司打算将aTm计划的净收益（如果有）主要用于资本支出，以支持公司现有采矿业务的增长和发展，并用于营运资金和一般公司用途。
由于普通股将按出售时的交易价格进行分配，因此购买者之间和分配期间的价格可能会有所不同。销售量和时间（如果有）将由公司管理层根据自动柜员机协议的条款自行决定。迄今为止，根据aTm协议，公司通过3月补编和10月补编共分配了128,888,346股普通股，总收益约为2.88亿美元。
只有通过公司于2024年3月8日向美国证券交易委员会提交的F-10表格（文件编号333-272989）的美国注册声明（“注册声明”）中包含的第二份A＆R招股说明书，才能根据aTm计划进行普通股的要约和出售。A＆R招股说明书可在公司的SEDAR+个人资料上查阅，A＆R招股说明书和注册声明可在美国证券交易委员会的EDGAR网站www.sec.gov上查阅。
本新闻稿不构成出售要约或收购要约的邀请，在根据任何此类司法管辖区的证券法进行注册或获得资格认证之前，在任何司法管辖区出售此类普通股的行为均不合法。
关于 Bitfarms Ltd.
Bitfarms成立于2017年，是一家全球垂直整合的比特币数据中心公司，将其计算能力贡献给一个或多个矿池，从中接收比特币付款。Bitfarms开发、拥有和运营垂直整合的采矿设施，由内部管理和公司拥有的电气工程、安装服务和多个现场技术维修中心。该公司的专有数据分析系统可提供一流的运营性能和正常运行时间。
Bitfarms目前在四个国家拥有12个运营中的比特币数据中心和两个正在开发的比特币数据中心：加拿大、美国、巴拉圭和阿根廷。Bitfarms主要由环保的水力发电和长期电力合同提供动力，致力于使用可持续且往往未得到充分利用的能源基础设施。
要了解有关 Bitfarms 活动、开发和在线社区的更多信息，请执行以下操作：
警示声明
本公司证券的交易应被视为高度投机性。没有任何证券交易所、证券委员会或其他监管机构批准或不批准此处包含的信息。多伦多证券交易所、纳斯达克或任何其他证券交易所或监管机构均不对本新闻稿的充分性或准确性承担责任。
前瞻性陈述
本新闻稿包含某些 “前瞻性信息” 和 “前瞻性陈述”（统称为 “前瞻性信息”），这些陈述基于截至本新闻发布之日的预期、估计和预测，受加拿大和美国证券法安全港的保护。本新闻稿中有关aTm计划、根据该计划出售普通股及其向公司提供的收益以及此类收益的潜在用途的陈述和信息均为前瞻性信息。任何涉及对预测、期望、信念、计划、预测、目标、假设、未来事件或绩效的讨论的陈述（通常但并非总是使用 “期望”、“不期望”、“预期” 或 “不预期”、“计划”、“预算”、“预算”、“预期”、“预测”、“前景”、“相信” 或 “打算” 或变体等短语此类词语和短语，或声明 “可能”、“将”、“可能”、“可能” 或 “将” 发生或实现的某些行动、事件或结果）不是历史事实陈述，可能是前瞻性信息，旨在识别前瞻性信息。
这些前瞻性信息基于公司管理层在发布时的假设和估计，涉及已知和未知的风险、不确定性和其他因素，这些因素可能导致公司的实际业绩、业绩或成就与此类前瞻性信息所表达或暗示的任何未来业绩、业绩或成就存在重大差异。除其他外，这些因素包括与以下相关的风险：公司设施的建设和运营可能无法按目前的计划进行，或者根本无法保证公司能够按照宣布的条款完成对Stronghold Digital Mining, Inc.的收购，或根本无法实现；数字货币市场；成功开采数字货币的能力；收入可能不会像目前那样增加预期的，或者根本没有；可能无法盈利地清算当前的数字货币库存，或根本没有；数字货币价格的下跌可能会对运营产生重大的负面影响；网络难度的增加可能对运营产生重大的负面影响；数字货币价格的波动；适用司法管辖区用于加密货币采矿目的的水力发电的预期增长和可持续性；无法为公司运营加密货币采矿资产维持可靠和经济的电力来源；增加的风险公司的电力成本、天然气成本、货币汇率变化、能源削减或公司经营所在司法管辖区能源制度的监管变化以及对公司盈利能力的不利影响；完成当前和未来融资的能力；财务报告内部控制的重大缺陷可能导致对公司财务状况的错误陈述，从而可能导致年度或中期合并财务报表出现重大误报如果不是及时阻止或发现任何阻碍 Bitfarms 运营业务的法规或法律；数字货币的历史价格和开采与历史价格一致的数字货币的能力；以及通过或扩大任何阻碍 Bitfarms 经营其业务或使其运营成本更高的法规或法律。有关这些以及其他风险和不确定性的更多信息，请参阅公司提交的文件（也可在美国证券交易委员会网站上查阅，网址为www.sec.gov），包括2024年12月9日提交的截至2023年12月31日止年度的重报管理与分析。尽管公司试图确定可能导致实际业绩与前瞻性陈述中表达的业绩存在重大差异的重要因素，但可能还有其他因素导致业绩与预期、估计或预期不符，包括公司目前未知或认为不重要的因素。无法保证此类陈述会被证明是准确的，因为实际结果和未来事件可能与此类陈述中的预期存在重大差异。因此，读者不应过分依赖任何前瞻性信息。除法律要求外，公司没有义务修改或更新任何前瞻性信息。
投资者关系联系人：
Tracy Krumme
高级副总裁，投资者关系与公司通信主管
+1 786-671-5638
tkrumme@bitfarms.com
媒体联系人：
美国：乔尔·弗兰克、威尔金森·布里默·卡彻
丹·卡彻或约瑟夫·萨拉
+1 212-355-4449
魁北克：机智
路易斯-马丁勒克莱尔
+1 418-693-2425
lmleclerc@tactconseil.ca
