Keel Infrastructure plans to issue convertible bonds to raise $400 million

According to Globenewswire, Nasdaq-listed Bitcoin mining company Keel Infrastructure (formerly Bitfarms) announced plans to raise $400 million through the issuance of convertible senior notes, with completion expected around June 9, 2026, subject to market and closing conditions. The proceeds will be used for capping subscription transaction costs, deposits for data center construction equipment, credit guarantees, and other general corporate purposes. If the underwriter exercises the option to increase the offering, a portion of the net proceeds will be used for additional capping subscription transactions, and the remainder for general corporate purposes.