James Ding
Oct 10, 2025 15:28
Bitfarms converts a Macquarie debt facility into $300M challenge financing, drawing an extra $50M to speed up AI growth at its Panther Creek campus.
Bitfarms Ltd., a distinguished North American vitality and digital infrastructure firm, has efficiently transformed its current personal debt facility from Macquarie Group right into a project-specific financing settlement price as much as $300 million. This transfer is geared toward accelerating the event of its knowledge heart campus in Panther Creek, Pennsylvania, based on a report by GlobeNewswire.
Mission Financing for HPC/AI Growth
The financing association contains an extra $50 million draw, resulting in a complete of $100 million being drawn via closing. This capital is earmarked for accelerating gear purchases and advancing high-performance computing (HPC) and synthetic intelligence (AI) infrastructure growth on the Panther Creek website. Bitfarms plans to begin groundwork for the information heart within the fourth quarter of 2025, with energization anticipated by the tip of 2026.
Strategic Partnership with Macquarie
Ben Gagnon, CEO of Bitfarms, expressed enthusiasm in regards to the conversion of the debt facility to project-level financing. He highlighted that this transition permits for a extra versatile drawdown on the complete facility, expediting development timelines and positioning Bitfarms to fulfill rising demand for HPC/AI infrastructure within the area. The collaboration with Macquarie has been pivotal in advancing the event phases on the Panther Creek campus.
Macquarie’s Dedication to AI Infrastructure
Joshua Stevens, Managing Director of Macquarie Group’s Commodities and World Markets enterprise, emphasised their dedication to supporting Bitfarms’ 350 MW HPC/AI campus in Pennsylvania. Stevens famous that the state’s sturdy vitality and fiber infrastructure makes it an rising hub for AI infrastructure, with Bitfarms poised to ship cutting-edge digital options.
Broader Affect and Future Prospects
Bitfarms’ strategic concentrate on U.S. growth is obvious in its 1.3 GW vitality pipeline, predominantly primarily based within the U.S. The corporate, based in 2017, continues to steer in digital infrastructure throughout the Americas, with its operations headquartered in New York and Toronto. The conversion of the Macquarie debt facility is a big milestone, reinforcing Bitfarms’ capability to leverage monetary partnerships for development within the digital and vitality infrastructure sectors.
Picture supply: Shutterstock
