Overview

• Bitfarms converted its Macquarie facility into up to $300 million in project financing dedicated to the Panther Creek site and has drawn $100 million to accelerate equipment purchases and civil works.
• The company plans additional milestone-based draws to fund a new substation and begin site construction in the fourth quarter, with the campus expected to be energized by the end of 2026.
• Northland upgraded the stock to outperform and raised its price target to $7, citing the project-level funding for the Pennsylvania data center campus.
• Shares notched new highs on an eight-day rally, while technical commentary points to a potential move toward $12 only if a breakout above $7 is confirmed.
• Bitfarms announced CFO Jeff Lucas will retire on Oct. 27 and will be succeeded by finance executive Jonathan Mir as the company emphasizes HPC and AI infrastructure development.