Bitcoin miner Bitfarms secures up to $300M loan from Macquarie

An initial tranche of $50 million will be used to develop Bitfarms’ Panther Creek data center in Pennsylvania.

Bitfarms, a global computer infrastructure company known for its Bitcoin mining operations, has entered into a $300 million loan agreement with Macquarie Group to finance the development of its high-performance computing (HPC) data centers.

According to an April 2 announcement, Macquarie’s private debt facility will provide $50 million in initial funding for Bitfarms’ Panther Creek data center project in Pennsylvania. 

The remaining $250 million will be released once Bitfarms achieves “specific development milestones at its Panther Creek location,” the announcement said.

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