Replies to post #1252 on Bitfarms Ltd (BITF)

[hobowilly]

plans to use for working capital requirements, funding ongoing operations, repaying debt outstanding, and completing future acquisitions.

Are they serious? Working capital/Funding ongoing operations?, in other words, if we don't we're going out of business?

Great, create more debt in order to pay off outstanding debt.

And of course we have no money to keep the lights on but we're always interested in future acquisitions.

What a F***k**g disaster. I mean they come right out and say it. This is terrible. How many Bitcoins are they sitting on? This is the consequence of HODL'ing. They mine and don't sell anything. There is no "product" to speak of. You mine precious metals, you turn the metal into something and sell it. You mine Bitcoin, and? You go into debt HODL'ing it?

[hobowilly]

This is from the 2nd quarter 10Q

Completed a CAD$75 million private placement, bringing total gross proceeds raised for the year-to-date to CAD$155 million, and applied the majority of the proceeds to place deposits to secure orders for previously announced 56,300 new miners with expected deliveries in 2021 and 2022;

And this is new?

Separately, the company has entered into an at-the-market offering agreement on Monday, that would result in up to $500M in aggregate proceeds

total gross proceeds raised for the year-to-date to CAD$155 million
+ up to $500M = say $600,000,000.00 +/- now? Is that correct?

Pre-Market looking pretty bleak, here comes that 20 ton Gap-Down locomotive again. Should be arriving in the station in about 1 hour.
$5.30 -0.13 (-2.39%)
DATA AS OF AUG 18, 2021 8:33 AM ET - PRE-MARKET