Keel Infrastructure completes $458 million 1.25% convertible notes offering due 2032
The bitcoin miner, formerly Bitfarms, set an initial conversion price of about $7.41 and said proceeds will support capped call hedges, equipment deposits, letters of credit for data center projects and general corporate purposes.
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Fact Check
The official Keel Infrastructure press release distributed via GlobeNewswire (June 9, 2026) confirms all material elements of the claim: $458 million of 1.250% convertible senior notes due 2032, an initial conversion price of approximately $7.41 per share, and use of proceeds for capped call transactions (hedges), deposits for long-lead equipment, letters of credit for data center projects, and general corporate purposes. It also confirms the company is the former Bitfarms. Stock Titan independently corroborates the closing. All claim details match the primary source.
Summary
Keel Infrastructure, the bitcoin mining company formerly known as Bitfarms, completed a $458 million offering of 1.25% convertible senior notes due 2032 with an initial conversion price of about $7.41. The company said part of the proceeds will fund capped call transactions to reduce dilution if the notes are converted, while the remaining funds will go toward long-term equipment deposits, letters of credit for data center projects and general corporate purposes.
Terms & Concepts
- convertible senior notes: Debt securities that pay interest and can later be converted into company shares.
- capped call transactions: A derivatives strategy companies use to help limit shareholder dilution from convertible debt.