# Bitfarms Announces CAD$40.0 Million Private Placement With U.S. Institutional Investors By Coinness Canonical URL: https://www.tokenpost.com/news/investing/6489 Published: 2021-02-08T02:30:04.000Z Updated: 2021-02-08T02:30:04.000Z Section: Investing > Bitfarms Ltd., a Canadian publicly listed bitcoin mining operation, has entered into subscription agreements with certain institutional investors for gross proceeds of approximately CAD$40.0 million in a private place… Bitfarms Ltd., a Canadian publicly listed bitcoin mining operation, has entered into subscription agreements with certain institutional investors for gross proceeds of approximately CAD$40.0 million in a private placement in the United States of its equity securities, comprised of 11,560,695 common shares along with warrants to purchase an aggregate of up to 11,560,695 common shares at a purchase price of CAD$3.46 per common share and associated warrant. The warrants have an exercise price of USD$3.01 per common share and exercise period of three and one-half years. The net proceeds of the private placement will be used by the Company principally to acquire additional miners, expand infrastructure, and improve its working capital position. [Coinness]() ## Links in this article - [Coinness](https://coinness.com)