Wu said that Keel Infrastructure (NASDAQ/TSX: KEEL, formerly Bitcoin mining company Bitfarms) announced that it has increased the issuance size of its current convertible senior bonds from the originally planned $350 million to $400 million (with an additional $58 million over-allotment option), and is expected to close by June 9, 2026. The funds raised, after deducting the cost of the cap call options, will be used to expand and accelerate data center development projects (such as Panther Creek, Sharon, and Moses Lake) as well as other general corporate purposes.

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TheRedTelephoneBoothInTheRuins
· 9h ago
The shift of mining companies into data centers really is the big trend. After Bitfarms rebranded to Keel, it has been making moves one after another—how long can this $400 million keep burning?
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PfpArchaeologist
· 9h ago
Over-allotment of 58 million—institutions have a big appetite. But the data center track is so fiercely competitive that it’s gone wild; what’s the probability that Keel can break through?
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GateUser-4590f4c6
· 9h ago
The increase in scale indicates that subscription enthusiasm exceeded expectations, but the settlement is not until 2026, so there are enough uncertainties in these two years.
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