Bitfarms sells Bitcoin mining operation in Paraguay and leaves Latin America

Source: PortaldoBitcoin Original Title: Bitfarms sells Bitcoin mining operation in Paraguay and leaves Latin America Original Link: Bitfarms, a digital infrastructure and energy company listed on Nasdaq and the Toronto Stock Exchange (BITF), announced the sale of its Bitcoin mining unit in Paso Pe, Paraguay, marking its complete exit from Latin America. The asset, with a capacity of 70 MW, will be acquired by Sympatheia Power Fund (SPF), a crypto infrastructure fund managed by Singaporean firm Hawksburn Capital.

According to an official statement, the final purchase agreement values the site at up to US$ 30 million. The transaction is expected to be completed within 60 days, subject to usual closing conditions.

Under the terms of the contract, Bitfarms will receive US$ 9 million in cash at closing, scheduled for the first quarter of 2026 — a amount that includes a non-refundable deposit of US$ 1 million already paid by the buyer. Additionally, the company may receive up to US$ 21 million more over 10 months, contingent on the achievement of payment milestones.

Full focus on North America

With the sale of the asset in Paraguay, Bitfarms will concentrate 100% of its energy portfolio in North America, reinforcing a strategy focused on high-performance computing infrastructure (HPC) and artificial intelligence (AI), in addition to Bitcoin mining.

According to the company’s CEO, Ben Gagnon, the operation anticipates between two and three years of expected free cash flow, which will be reinvested in energy projects and data centers in North America starting in 2026. “We believe that the HPC and AI segment offers significantly higher returns on invested capital,” the executive stated.

After the sale is completed, Bitfarms’ energy portfolio will consist of 341 MW of already energized capacity, 430 MW in active development, all in the United States, and 2.1 GW in long-term pipeline in North America, with about 90% in U.S. territory.