Bitcoin miner Bitfarms receives $100 million in a Bitcoin mortgage loan from Galaxy Digital

According to reports, Canadian bitcoin miner Bitfarms received a $100 million bitcoin mortgage from blockchain and cryptocurrency financial services provider Galaxy Digital Holdings. According to a statement, the miner has withdrawn US$60 million at an annual interest rate of 10.75% for six months and expects to withdraw more in the next few months. Bitfarms CFO Jeff Lucas stated that the new US$100 million BTC credit line adds another component to Bitfarms’ diversified financing strategy and provides a large amount of undiluted capital to fund its global growth plan, including four in A mining farm with a mining capacity of 298 MW has been built. Bitfarms intends to use these funds to reach 3 EH/s computing power by March 31 and reach 8 EH/s by December 31 next year.