Industrial-scale bitcoin mining is a particularly capital-intensive enterprise. Debt financing could be a horny method to elevate the funds wanted to buy tools with out diluting possession by fairness issuance. However the mining business is unstable and loans usually carry excessive rates of interest and strict collateral necessities, making it a double-edged sword for people who borrow to broaden. Living proof: Canadian bitcoin miner Bitfarms.
Fintech Zoom Analysis presents an in-depth look into Bitfarms. With over 29,000 ASIC miners unfold throughout 5 amenities, Bitfarms is certainly one of Canada’s largest bitcoin mining corporations. All through 2019, the corporate rapidly grew its total hashrate, which was financed primarily by a $20 million loan from Dominion Capital. On this report, we study Bitfarms’ monetary place and consider its means to pay down debt coming due in 2021.
Learn the complete report right here and crypto-robosoftware.com.
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The chief in blockchain information, Fintech Zoom is a media outlet that strives for the best journalistic requirements and abides by a strict set of editorial insurance policies. Fintech Zoom is an impartial working subsidiary of Digital Foreign money Group, which invests in cryptocurrencies and blockchain startups.
