An initial tranche of $50 million will be used to develop Bitfarms’ Panther Creek data center in Pennsylvania.
Bitfarms, a global computer infrastructure company known for its Bitcoin mining operations, has entered into a $300 million loan agreement with Macquarie Group to finance the development of its high-performance computing (HPC) data centers.
According to an April 2 announcement, Macquarie’s private debt facility will provide $50 million in initial funding for Bitfarms’ Panther Creek data center project in Pennsylvania.
The remaining $250 million will be released once Bitfarms achieves “specific development milestones at its Panther Creek location,” the announcement said.
