2022-06-21 07:11:18 BITF Bitfarms
Galaxy Digital Holdings
06/21/22 06/2107:11 06/21/2207:11 | Bitfarms adjusts HODL strategy, sells 3,000 bitcoin for $62MBitfarms (BITF) adjusted its HODL strategy to improve liquidity and strengthen its balance sheet. Over the past week, Bitfarms has sold a total of 3,000 Bitcoin for approximately $62M and closed on its previously announced $37M in new equipment financing with NYDIG ABL improving corporate liquidity by approximately $100M. This brings total BTC holdings to 3,349, inclusive of month-to-date production, which is currently averaging about 14 BTC per day. Bitfarms has applied a portion of the proceeds to rebalance its indebtedness by reducing its BTC-backed credit facility with Galaxy Digital (BRPHF) a further $28M from $66M to $38M. As of June 20, 2022, Bitfarms held cash of $42M and 3,349 BTC valued at approximately $67M at a BTC price of $20,000. Bitfarms is in compliance with all its credit obligations. Bitfarms
Galaxy Digital Holdings
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