Bitcoin miner Bitfarms Ltd. has agreed to sell its remaining Latin American operations, completing a strategic exit from the region as the company refocuses on North American power and data-center infrastructure tied to AI and high-performance computing.
In a Friday press release, the company said it entered a definitive agreement to sell its 70-megawatt Paso Pe site in Paraguay to Sympatheia Power Fund, a crypto infrastructure fund managed by Singapore-based Hawksburn Capital, for up to $30 million.
Under the terms of the deal, Bitfarms will receive $9 million in cash at closing, including a $1 million non-refundable deposit already paid, with up to $21 million more tied to post-closing milestones over the following 10 months. Management said the sale effectively pulls forward two to three years of expected free cash flow from the site.
Bitfarms CEO Ben Gagnon said the proceeds will be redeployed into North American HPC and AI-focused energy infrastructure beginning in 2026, marking the end of a multi-year wind-down of the firm’s Latin American footprint.
The sale leaves Bitfarms’ energy portfolio fully concentrated in North America, with 341 megawatts of energized capacity, 430 megawatts under active development in the U.S., and a total multi-year pipeline of roughly 2.1 gigawatts across the region.
Industry-wide shift
Bitfarms has been steadily repositioning itself away from geographically dispersed bitcoin mining toward U.S.-based power assets capable of supporting AI and HPC workloads.
The company began signaling that shift in mid-2025, citing stronger returns and growing demand for energy-dense data centers, and has since announced plans to convert select mining sites to support AI infrastructure.
Shares of Bitfarms (ticker BITF) were trading around $2.60 on Thursday, recovering modestly from mid-December lows but still well below the stock’s 2025 highs of around $6.50 in October, according to The Block price data.
Bitfarms (BITF) stock price chart. Source: The Block/TradingView
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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