Bitfarms exits LatAm with $30 million Paraguay site sale amid North American AI/HPC push
Bitfarms sold its Paraguay site for up to $30 million to fully exit Latin America and focus on North American AI/HPC infrastructure.Summary
Bitcoin miner Bitfarms Ltd. has finalized its strategic exit from Latin America by agreeing to sell its 70-megawatt Paso Pe site in Paraguay for up to $30 million to Sympatheia Power Fund. The deal structure includes $9 million in cash at closing, with up to $21 million contingent on post-closing milestones over the next 10 months, effectively accelerating two to three years of expected free cash flow. CEO Ben Gagnon confirmed the proceeds will be reinvested into North American high-performance computing (HPC) and AI-focused energy infrastructure starting in 2026. This sale completes the company's shift away from geographically dispersed mining toward U.S.-based power assets supporting AI and HPC workloads, leaving Bitfarms with 341 megawatts energized in North America and a substantial development pipeline.
(Source：The Block)