Mining companies transforming into data centers, issuing bonds to expand scale—this approach is going quite smoothly.

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.