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.