Bitfarms, a Bitcoin mining company, has filed a $300 million convertible bond issuance application.

BlockBeats News, October 16th, according to The Block, Bitcoin mining and digital infrastructure company Bitfarms Ltd. is planning to issue a batch of convertible bonds to raise $300 million.

These convertible bonds can be converted into cash, company common stock, or a combination of both at Bitfarms' discretion. The bonds are unsecured, with a maturity date of 2031, and will pay interest semi-annually starting from July 2026.

Bitfarms stated that the raised funds will be used for general corporate purposes, including for "collar option trades" to hedge the equity dilution from the bond conversion. The company plans to reach private agreements with some bond buyers to cap the dilution at a premium level of approximately 125% of the current stock price.