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Five weeks, a 500% rally, and now a $300 million AI pivot — Bitfarms Ltd. (NASDAQ:BITF) is rewriting its playbook, turning a debt facility with Macquarie Group Ltd. (ASX: MQG) into fuel for its high-performance computing ambitions.
Bitfarms announced on Oct. 10 that it converted its private debt facility from Macquarie Group's Commodities and Global Markets unit into a $300 million project financing arrangement dedicated to developing its Panther Creek data center in Pennsylvania.
The company drew an additional $50 million from the facility, bringing total funding to $100 million to advance equipment orders and civil works ahead of construction.
CEO Ben Gagnon said the conversion gives Bitfarms greater flexibility and faster access to capital as it accelerates its high-performance computing (HPC) and AI infrastructure strategy.
"With robust energy, fiber infrastructure, and growing demand for data centers, Pennsylvania is quickly emerging as a new AI hub," said Joshua Stevens, managing director at Macquarie.
"Bitfarms is well-positioned to deliver state-of-the-art digital infrastructure for prospective clients."
BITF Weekly Chart Analysis (Source: TradingView)
Bitfarms has staged a powerful breakout, with shares rising more than 20% this week to trade near $5.12.
The move propelled the stock above a multi-year resistance zone between $4.00 and $4.50, confirming a long-awaited trend reversal.
Momentum remains strong, with buyers firmly in control and the next key resistance at $6.50–$7.00, aligning with the long-term downtrend line.
A decisive break above that level could open the path toward $12.00, matching prior all-time highs.
Bitfarms Technical Analysis (Source: TradingView)
On the daily chart, BITF has climbed from its $1.00 base, crossing above all major moving averages, now offering layered support between $1.90 and $3.25.
The Bollinger Bands indicate expanding volatility as price rides the upper band, a sign of strong buying momentum.
While overbought conditions may prompt short-term consolidation, the broader trend remains bullish, reinforced by rising EMAs and firm investor participation.
Immediate resistance stands at $5.50–$6.00, followed by the larger $7.00 barrier. A confirmed breakout above $7 would validate continuation toward the $12 target zone outlined on the weekly chart.
Bitfarms is transforming from a Bitcoin miner into an AI infrastructure leader at a time when investors are rotating into next-generation computing plays.
This evolution has sparked comparisons to Strategy Inc. (NASDAQ:MSTR), which became a market phenomenon by aligning corporate strategy with Bitcoin exposure.
If Bitfarms clears its $12 breakout target, it could set the model for how digital asset firms reinvent themselves as Wall Street's new AI-finance hybrids.
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