Big moves for Bitfarms—the Canadian crypto mining firm just landed up to $300 million in funding from investment giant Macquarie. The cash is going straight into building out their Panther Creek data center project in Pennsylvania and pushing deeper into AI and high-performance computing.

Announced on April 2, the first $50 million has already been secured. More funding will roll in as Bitfarms hits key development goals. CEO Ben Gagnon called the deal “crucial,” given the rising demand for AI infrastructure and energy-efficient data centers.

“This partnership with Macquarie marks the start of a new chapter,” Gagnon said.

Each piece of the loan comes with a two-year term and 8% annual interest, though Bitfarms won’t have to pay any cash interest on the first $50M for the first three months.

Why Panther Creek Is a Prime Location

Macquarie’s team pointed out that the site is less than 100 miles from both NYC and Philly—a huge plus for AI and HPC clients.

Investors liked what they saw too: Bitfarms stock popped 2.54% on Nasdaq after the announcement.

Comes After Stronghold Digital Merger

This funding news comes shortly after Bitfarms closed its acquisition of Stronghold Digital Mining in an all-stock deal.

Stronghold shareholders got 2.52 Bitfarms shares per share, and Stronghold’s stock has now been removed from the Nasdaq.

Bitfarms issued nearly 60 million new shares and 10.5 million warrants as part of the merger—giving it a much bigger presence in the North American mining and data center game.