Overview

• Bitfarms restructured its Macquarie facility into a project-specific package of up to $300 million to fund the Panther Creek development.
• An additional $50 million draw brings total funding utilized to $100 million to secure long-lead equipment and advance early civil works.
• Substation construction is slated to start in Q4 2025, with site groundbreaking targeted before year-end and energization by late 2026.
• Macquarie signaled continued support, citing Pennsylvania’s strong power and fiber networks as advantages for building an AI and HPC hub.
• Northland Capital Markets advised on the deal, with Skadden representing Bitfarms and Latham & Watkins advising Macquarie, while Bitfarms shares closed up about 4.8% following the announcement.