Bitfarms Secures $300mln Facility for Panther Creek Data Center Development

• Bitfarms to fund $300 million Phase 1 of Panther Creek data center • Energization expected by YE 2026 • Groundbreaking set for Q4 2025 • $50 million additional draw from converted facility • Macquarie provides financing for data center development • Panther Creek campus in Pennsylvania to host data center facility • Bitfarms, a North American energy and digital infrastructure company.

Bitfarms Ltd. (BITF), a North American energy and digital infrastructure company, has successfully converted its previously announced private debt facility of up to $300 million from Macquarie Group’s Commodities and Global Markets business. This conversion will fund Phase 1 of the Panther Creek data center development, with energization expected by the end of 2026. The company will draw an additional $50 million from the converted facility to accelerate long-lead time equipment purchases and advance high-performance computing (HPC)/artificial intelligence (AI) development at the Panther Creek campus in Pennsylvania.

The conversion of the debt facility to a project-specific financing arrangement enables Bitfarms to draw down on the full facility, accelerating construction timelines and providing increased flexibility. Bitfarms CEO Ben Gagnon expressed excitement about this milestone, stating, "We are thrilled to reach this important milestone with Macquarie, and I would like to thank them for being a supportive financing partner throughout the initial phases of HPC/AI development at our Panther Creek campus."

Joshua Stevens, Managing Director at Macquarie Group’s Commodities and Global Markets business, commented, "We are proud to expand our partnership with Bitfarms to support the development of its marquee 350 MW HPC/AI campus in eastern Pennsylvania. With robust energy, fiber infrastructure and continued demand for data centers, Pennsylvania is quickly emerging as a new AI infrastructure hub."

Bitfarms is expected to break ground on the Panther Creek data center in the fourth quarter of 2025. The additional $50 million drawdown will fund civil works and substation construction at the Panther Creek site, which are on track to begin in Q4 2025.

Northland Capital Markets acted as the sole placement agent to Bitfarms, while Skadden, Arps, Slate, Meagher & Flom LLP and Latham & Watkins LLP provided legal counsel to the company and Macquarie, respectively.

Bitfarms Converts Macquarie Debt Facility to $300M Project Financing and Draws Additional $50M to Accelerate HPC/AI Development at Panther Creek Campus^[1] https://www.stocktitan.net/news/BITF/bitfarms-converts-macquarie-debt-facility-to-300m-project-financing-qxemp7qpm58g.html