-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
-自動櫃員機上還有8700萬美元-
就公司於2024年12月17日發佈的2023年11月10日簡短基本架構招股說明書的第二份修訂和重述的招股說明書補充文件而言，本新聞稿構成 「指定新聞稿」。
安大略省多倫多和魁北克布羅薩德，2024年12月17日（GLOBE NEWSWIRE）——全球比特幣垂直整合公司Bitfarms Ltd.（納斯達克/多倫多證券交易所股票代碼：BITF）（「Bitfarms」 或 「公司」）宣佈，它已於2024年12月17日提交了第二份經修訂和重述的招股說明書補充文件（「第二份A＆R招股說明書補充文件」），進行了修訂和重述 2024年3月8日的招股說明書補充文件（「三月補充文件」），該補充文件最初由2024年10月4日的招股說明書補充文件（「十月補充文件」）對公司現有375美元進行了修訂和重述2023年11月10日的百萬基礎貨架招股說明書（「基本貨架招股說明書」，以及第二份A＆R招股說明書補充文件，「A＆R招股說明書」）。該公司正在提交第二份A＆R招股說明書補充文件，以納入2024年8月21日首次公佈的公司與Stronghold Digital Mining, Inc.（「Stronghold」）擬議合併的最新預計財務報表，以及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2024年3月8日的新聞稿中所述，公司此前與H.C. Wainwright & Co., LLC（「代理人」）作爲代理人於2024年3月8日簽訂了市場發行協議（「aTm協議」），根據該協議，公司制定了市場股票計劃（「aTm計劃」）。根據AtM計劃，公司可自行決定在自動櫃員機協議期限內不時通過代理出售一定數量的公司普通股（「普通股」），這將使公司的總收益總額達到3.75億美元。自動櫃員機上還剩下8700萬美元。通過代理人出售普通股（如果有）將通過 「在市場上」 發行，包括但不限於直接在納斯達克股票市場或美國其他交易市場上按每次出售時的市場價格出售股票。在多倫多證券交易所或加拿大任何其他交易市場上，將不會根據aTm計劃發行或出售普通股。任何一方均可隨時終止 aTm 計劃。
公司打算將aTm計劃的淨收益（如果有）主要用於資本支出，以支持公司現有采礦業務的增長和發展，並用於營運資金和一般公司用途。
由於普通股將按出售時的交易價格進行分配，因此購買者之間和分配期間的價格可能會有所不同。銷售量和時間（如果有）將由公司管理層根據自動櫃員機協議的條款自行決定。迄今爲止，根據aTm協議，公司通過3月補編和10月補編共分配了128,888,346股普通股，總收益約爲2.88億美元。
只有通過公司於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（「註冊聲明」）中包含的第二份A＆R招股說明書，才能根據aTm計劃進行普通股的要約和出售。A＆R招股說明書可在公司的SEDAR+個人資料上查閱，A＆R招股說明書和註冊聲明可在美國證券交易委員會的EDGAR網站www.sec.gov上查閱。
本新聞稿不構成出售要約或收購要約的邀請，在根據任何此類司法管轄區的證券法進行註冊或獲得資格認證之前，在任何司法管轄區出售此類普通股的行爲均不合法。
關於 Bitfarms Ltd.
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礦池，從中接收比特幣付款。Bitfarms開發、擁有和運營垂直整合的採礦設施，由內部管理和公司擁有的電氣工程、安裝服務和多個現場技術維修中心。該公司的專有數據分析系統可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個運營中的比特幣數據中心和兩個正在開發的比特幣數據中心：加拿大、美國、巴拉圭和阿根廷。Bitfarms主要由環保的水力發電和長期電力合同提供動力，致力於使用可持續且往往未得到充分利用的能源基礎設施。
要了解有關 Bitfarms 活動、開發和在線社區的更多信息，請執行以下操作：
警示聲明
本公司證券的交易應被視爲高度投機性。沒有任何證券交易所、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均不對本新聞稿的充分性或準確性承擔責任。
前瞻性陳述
本新聞稿包含某些 「前瞻性信息」 和 「前瞻性陳述」（統稱爲 「前瞻性信息」），這些陳述基於截至本新聞發佈之日的預期、估計和預測，受加拿大和美國證券法安全港的保護。本新聞稿中有關aTm計劃、根據該計劃出售普通股及其向公司提供的收益以及此類收益的潛在用途的陳述和信息均爲前瞻性信息。任何涉及對預測、期望、信念、計劃、預測、目標、假設、未來事件或績效的討論的陳述（通常但並非總是使用 「期望」、「不期望」、「預期」 或 「不預期」、「計劃」、「預算」、「預算」、「預期」、「預測」、「前景」、「相信」 或 「打算」 或變體等短語此類詞語和短語，或聲明 「可能」、「將」、「可能」、「可能」 或 「將」 發生或實現的某些行動、事件或結果）不是歷史事實陳述，可能是前瞻性信息，旨在識別前瞻性信息。
這些前瞻性信息基於公司管理層在發佈時的假設和估計，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業績、業績或成就與此類前瞻性信息所表達或暗示的任何未來業績、業績或成就存在重大差異。除其他外，這些因素包括與以下相關的風險：公司設施的建設和運營可能無法按目前的計劃進行，或者根本無法保證公司能夠按照宣佈的條款完成對Stronghold Digital Mining, Inc.的收購，或根本無法實現；數字貨幣市場；成功開採數字貨幣的能力；收入可能不會像目前那樣增加預期的，或者根本沒有；可能無法盈利地清算當前的數字貨幣庫存，或根本沒有；數字貨幣價格的下跌可能會對運營產生重大的負面影響；網絡難度的增加可能對運營產生重大的負面影響；數字貨幣價格的波動；適用司法管轄區用於加密貨幣採礦目的的水力發電的預期增長和可持續性；無法爲公司運營加密貨幣採礦資產維持可靠和經濟的電力來源；增加的風險公司的電力成本、天然氣成本、貨幣匯率變化、能源削減或公司經營所在司法管轄區能源制度的監管變化以及對公司盈利能力的不利影響；完成當前和未來融資的能力；財務報告內部控制的重大缺陷可能導致對公司財務狀況的錯誤陳述，從而可能導致年度或中期合併財務報表出現重大誤報如果不是及時阻止或發現任何阻礙 Bitfarms 運營業務的法規或法律；數字貨幣的歷史價格和開採與歷史價格一致的數字貨幣的能力；以及通過或擴大任何阻礙 Bitfarms 經營其業務或使其運營成本更高的法規或法律。有關這些以及其他風險和不確定性的更多信息，請參閱公司提交的文件（也可在美國證券交易委員會網站上查閱，網址爲www.sec.gov），包括2024年12月9日提交的截至2023年12月31日止年度的重報管理與分析。儘管公司試圖確定可能導致實際業績與前瞻性陳述中表達的業績存在重大差異的重要因素，但可能還有其他因素導致業績與預期、估計或預期不符，包括公司目前未知或認爲不重要的因素。無法保證此類陳述會被證明是準確的，因爲實際結果和未來事件可能與此類陳述中的預期存在重大差異。因此，讀者不應過分依賴任何前瞻性信息。除法律要求外，公司沒有義務修改或更新任何前瞻性信息。
投資者關係聯繫人：
Tracy Krumme
高級副總裁，投資者關係與公司通信主管
+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：機智
路易斯-馬丁勒克萊爾
+1 418-693-2425
lmleclerc@tactconseil.ca
