{"id":126333,"date":"2025-04-02T17:15:58","date_gmt":"2025-04-02T17:15:58","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126333"},"modified":"2025-04-02T17:15:58","modified_gmt":"2025-04-02T17:15:58","slug":"bitcoin-miner-bitfarms-secures-up-to-300m-loan-from-macquarie","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126333","title":{"rendered":"Bitcoin miner Bitfarms secures up to $300M loan from Macquarie"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitfarms, 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.<br \/>\nAccording to an April 2 announcement, Macquarie\u2019s private debt facility will provide $50 million in initial funding for Bitfarms\u2019 Panther Creek data center project in Pennsylvania.\u00a0<br \/>\nThe remaining $250 million will be released once Bitfarms achieves \u201cspecific development milestones at its Panther Creek location,\u201d the announcement said.<br \/>\nOnce developed, Panther Creek will have a nearly 500-megawatt capacity fueled by several power sources.\u00a0<br \/>\nPanther Creek \u201cwill be sought after by HPC tenants once construction of the project is underway,\u201d said Joshua Stevens, an associate director at Macquarie Group.\u00a0<br \/>\nSource: BitfarmsThe project is being delivered at a time when AI applications are fueling growing demand for new sources of computational power and data storage capacity. Bitcoin miners are rushing to fill the void \u2014 and to secure reliable revenue streams for themselves in a post-halving environment.\u00a0<br \/>\nHowever, Bitfarms disclosed in its recent quarterly report that it continues to face \u201cregulatory challenges in expanding its energy capacity,\u201d with the approval timeline ranging from 12 to 36 months.\u00a0<br \/>\nIn the meantime, Bitfarms expects its $125 million acquisition of Stronghold Digital Mining to do much of the heavy lifting in providing additional capacity, CEO Ben Gagnon told investors.<br \/>\nRelated: Bitfarms sells Paraguay site to Hive for $85M, refocuses on US<br \/>\nAmid industry pressure, miners are HODLing\u00a0<br \/>\nBitfarms mined 654 Bitcoin (BTC) in the final quarter of 2024 at an average all-in cash cost of $60,800.\u00a0<br \/>\nLike other miners, Bitfarms has elected to retain a significant portion of its mined Bitcoin. Industry data shows it currently holds 1,152 BTC on its books, placing it among the top 25 publicly traded Bitcoin investors.<br \/>\nMiners like Hive Digital have doubled down on their long-term Bitcoin \u201chodl\u201d strategy as a way to bolster their balance sheet. The company\u2019s Bitcoin holdings have swelled to 2,620 BTC.\u00a0<br \/>\nMeanwhile, MARA Holdings has accumulated 46,374 BTC and has announced plans for a $2 billion stock offering to acquire more Bitcoin.\u00a0<br \/>\nSource: Frank HolmesLike Bitfarms, Hive Digital, Core Scientific, Hut8 and Bit Digital have also made a strategic pivot toward AI and HPC.<br \/>\nHive executives told Cointelegraph that the company has repurposed a portion of its Nvidia GPUs for such tasks. They said AI applications can generate more than $2.00 per hour in revenue, compared to just $0.12 per hour for crypto mining activities.\u00a0<br \/>\nRelated: BTC miners adopted \u2018treasury strategy,\u2019 diversified business in 2024: Report<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-miner-bitfarms-debt-facility-macquarie?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitfarms, 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&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126333"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126333"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126333\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126333"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}