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Why Bitfarms Stock Got Thrashed Today

TheMotleyFool

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Like the cryptocurrency world it's part of, Bitfarms (NASDAQ: BITF) stock can be rather volatile. Recent trading sessions have highlighted this up-and-down nature, and unfortunately for the Bitcoin miner and (increasingly) data center company, Thursday was one of the down ones.

Following a fairly vigorous rally over several preceding sessions, the stock did an about-face with a more than 18% decline that day. Investors clearly weren't happy about the company's latest financing news.

After market close on Wednesday, Bitfarms revealed that it aims to issue $300 million worth of convertible senior notes. These securities will mature in 2031 and pay interest semiannually if not converted before then.

Source Fool.com

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