Key Notes
- Bitfarms has sold its 70 MW Paso Pe mining site in Paraguay for up to $30 million.
- This sale marks a complete exit from Latin America for the company.
- The buyer is Sympatheia Power Fund, managed by Singapore-based Hawksburn Capital.
Bitfarms will sell its 70-megawatt Paso Pe Bitcoin mining site in Paraguay for up to $30 million, completing its exit from Latin America.
The company announced the deal on January 2, identifying the buyer as Sympatheia Power Fund (SPF), a crypto infrastructure fund managed by Singapore-based Hawksburn Capital.
Bitfarms (BITF) shares rose more than 4% in pre-market trading to $2.44 following the news. The deal rebalances the company’s energy portfolio to be 100% North American.
Bitfarms finalizes its exit to strengthen its North American energy strategy
The transaction structure includes $9 million in cash at closing, expected in the first quarter of 2026, and up to $21 million in milestone payments over the following 10 months.
This sale is the latest step in Bitfarms’ strategic shift away from the region to focus on high-performance computing (HPC) and AI infrastructure in the United States and Canada.
“This transaction brings approximately two to three years of anticipated operational free cash flow that will be reinvested in our North American HPC/AI energy infrastructure in 2026, where we believe we will be able to generate significantly higher returns,” said CEO Ben Gagnon.
The move follows a reported net loss of $46 million in the third quarter of 2025, during which the company also disclosed plans to wind down its Bitcoin mining operations through 2026 and 2027.
The sale concentrates Bitfarms’ operational footprint at 341 MW of live capacity and a 2.1 GW development pipeline, approximately 90% of which is in the United States.
This follows an earlier move in January 2025, when Bitfarms sold its 200 MW Yguazu mining facility in Paraguay to Hive Digital for $85 million.
The shift from mining to digital infrastructure
This sale is less about a geographic preference and more about a fundamental pivot in capital allocation.
Bitcoin miners are aggressively rebranding themselves as digital energy and infrastructure companies. Core assets, power purchase agreements and data center infrastructure, are increasingly fungible between crypto mining and servicing the high-margin AI/HPC sector.
Following the 2024 Bitcoin halving, which reduced mining profitability, operators like Bitfarms are leveraging their infrastructure to generate more stable and predictable revenues thanks to the insatiable demand for AI computing.
Expect other state-owned mining companies to accelerate similar divestitures of non-core assets to fund their transition to specialist data center providers.
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Hamza is an experienced crypto editor/writer with a deep understanding of blockchain technology, cryptocurrency markets and digital finance. He is passionate about making complex topics accessible and helping readers navigate the rapidly evolving world of crypto.
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