Fri, Oct 10, 2025
Bitfarms converts Macquarie facility to $300 million project financing
Key points
- Previously announced Macquarie private debt facility converted to an up to $300 million project-specific financing for the Panther Creek data center campus
- Bitfarms to draw an additional $50 million, for a total of $100 million drawn through closing
- Proceeds fund long-lead equipment purchases, civil works, and substation construction
- On track to break ground on the Panther Creek data center in Q4 2025, with Phase 1 energization expected by YE 2026
- Macquarie describes Panther Creek as a 350 MW HPC/AI campus in eastern Pennsylvania
Site update
| Site | Status | Active | In build | Theoretical |
|---|---|---|---|---|
Panther CreekNesquehoning, PA Panther Creek HPC/AI campus described by Macquarie as 350 MW. On track to break ground on the data center in Q4 2025; Phase 1 energization expected by YE 2026, funded by the converted up to $300 million Macquarie project financing. Status flags refer to the HPC/AI data center phase, not the existing power plant. | Disclosed | — | — | 350 MWgross |