Miner Bitfarms Raises $100M Bitcoin-Backed Loan With Galaxy Digital

Miner Bitfarms Raises 0M Bitcoin-Backed Loan With Galaxy Digital
Bitcoin miner Bitfarms secured a $100 million credit facility with blockchain and cryptocurrency financial services provider Galaxy Digital Holdings. The facility is backed by the company’s bitcoin holdings.The Toronto-based miner has already drawn down $60 million at an interest rate of 10.75% per year with a six-month term and expects to draw more over the next few months, according to a statement.“Our new $100 million BTC credit facility adds another component to our diversified financing strategy and contributes significant non-dilutive capital to fund our global growth initiatives, which include four farms with 298 Megawatts mining capacity under construction,” CFO Jeff…