Bitfarms has landed a major financial boost to fuel its ambitions in the fast-evolving world of high-performance computing and cryptocurrency. The company announced a credit facility of up to $300 million from Macquarie Equipment Capital, a deal poised to accelerate the development of its Panther Creek project in Pennsylvania—a site expected to become one of the largest high-capacity data centers in the region.
The financing will be split into two tranches. An initial $50 million will be allocated to the parent company, with the remaining $250 million contingent upon meeting project-specific milestones. Each tranche will carry a two-year term with an annual interest rate of eight percent. Notably, Bitfarms will not be required to make cash interest payments on the first $50 million during the initial three months; instead, the interest will be added to the loan balance.
Ben Gagnon, CEO of Bitfarms, described the deal as a cornerstone for the company’s growth. “This partnership marks the beginning of our investment in the near-term development of our Panther Creek data center, strategically located in Pennsylvania’s PJM region within close proximity to Philadelphia and NYC metropolitan areas,” he said. According to Gagnon, the Panther Creek facility alone has the potential to deliver nearly 500 megawatts of computing power, sourced from multiple energy providers.
Panther Creek is one of the strategic locations Bitfarms added to its portfolio following the acquisition of Stronghold Digital. That same deal also brought the Scrubgrass facility under Bitfarms’ ownership, expanding the company’s infrastructure significantly with two energy-rich sites ready to support large-scale AI and blockchain operations.
Looking ahead, Bitfarms intends to direct a portion of the funding toward enhancing operations not only at Scrubgrass but also at a third site in Sharon. The three properties combined cover nearly 1,800 acres, all within the energy-abundant PJM region, providing a strong geographic and logistical advantage for scaling digital infrastructure.
The timing of the funding is especially significant as Bitfarms positions itself to capitalize on the convergence of artificial intelligence and decentralized finance. “Amidst the surging AI revolution and the growing demand for power and infrastructure, this financing arrives at a pivotal time following the close of our transformational acquisition of Stronghold Digital Mining,” Gagnon noted.
Bitfarms, which currently operates 15 Bitcoin mining centers across the U.S., Canada, and Argentina, has been actively refining its portfolio. Earlier this year, the company sold its Paraguay site to HIVE Digital, signaling a shift in focus toward more strategic and scalable locations.
With this new capital infusion, Bitfarms is clearly aiming to lead the next phase of digital infrastructure development. The company’s bet on AI and high-performance computing, backed by significant financing and key acquisitions, places it at the forefront of a technological and energy transformation sweeping across North America.
By Alejandro Silva Ramírez, Crypto Analyst & Columnist