Bitfarms Ltd. (TSXV:BITF) announced that it has entered into subscription agreements with certain United States institutional investors for private placement of 5,586,593 common shares at a price of CAD 3.58 per share for gross proceeds of CAD 20,000,000 on January 10, 2021. The company will also issue 5,586,593 warrants exercisable at $3.10 (CAD 3.94001) per share for a period of three and one-half years. The transaction is expected to close on or about January 13, 2021, subject to satisfaction of customary closing conditions and approval of the TSX Venture Exchange.