Bitfarms has entered into a loan agreement with Macquarie Group for up to $300 million to develop its high-performance computing data centers. The initial amount of $50 million is designated for its Panther Creek data center in Pennsylvania, with an additional $250 million contingent on achieving specific development milestones. The facility is expected to have a nearly 500-megawatt capacity and attract high-performance computing tenants as construction progresses. However, Bitfarms faces regulatory challenges in expanding its energy capacity, which may delay approvals. In its last quarter, Bitfarms mined 654 Bitcoin at a cash cost of $60,800 each and has adopted a strategy of retaining much of its mined Bitcoin to strengthen its balance sheet. The company currently holds 1,152 BTC, ranking it among the top publicly traded Bitcoin holders.

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