Bitcoin Miner Bitfarms to Raise $31M in Sale of Shares to Institutional Inves...

The additional funding will go towards the acquisition of more miners, expanding infrastructure and boosting working capital.

Bitfarms boost its mining power by 360 PH with the new lease, set to run for 24 months.

Bitfarms announced the placement Sunday.

Bitfarms was able to sell far few shares for the same amount of proceeds thanks to a 45% rise in its stock price in the last week.

Bitfarms, a publicly traded miner, released its bitcoin mining update showing 431 BTC mined with 6,075 BTC ($192 million) held in custody.

Bitcoin mining company Bitfarms has shared bitcoin production updates, including energy usage and the company's strategic HODL mentality.