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Image Credit: Coin Telegraph

Bitcoin miner Bitfarms secures up to $300M loan from Macquarie

  • Bitfarms, a global computer infrastructure company, secures a $300 million loan from Macquarie Group to develop high-performance computing data centers for Bitcoin mining operations.
  • The loan agreement involves an initial $50 million funding for the Panther Creek data center project in Pennsylvania with the remaining $250 million to be released upon achieving specific development milestones.
  • Panther Creek will have a 500-megawatt capacity and is expected to attract high-performance computing tenants once construction begins.
  • Bitfarms aims to expand its energy capacity despite regulatory challenges and plans to acquire additional capacity through the acquisition of Stronghold Digital Mining.

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