Bitfarms Exits Latin America in $30M Sale, Pivots to AI

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 the Sympatheia Power Fund (SPF), a crypto infrastructure fund managed by Singapore-based Hawksburn Capital.

Shares of Bitfarms (BITF) rose over 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 Exit to Reinforce 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-based payments over the subsequent 10 months.

This sale is the final 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 forward an estimated two to three years of anticipated free cash flows from operations to be reinvested into our North American HPC/AI energy infrastructure in 2026, where we believe we will be able to generate much stronger returns,” CEO Ben Gagnon stated.

The move follows a reported net loss of $46 million in the third quarter of 2025, a period where the company also disclosed plans to wind down its Bitcoin mining operations through 2026 and 2027.

The sale concentrates Bitfarms’ operational footprint to 341 MW of energized capacity and a 2.1 GW development pipeline, roughly 90% of which is in the U.S.

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 geographic preference and more about a fundamental pivot in capital allocation.

Bitcoin miners are aggressively rebranding as energy and digital infrastructure companies. The core assets, power purchase agreements and data center infrastructure, are increasingly fungible between mining crypto and servicing the high-margin AI/HPC sector.

Following the 2024 Bitcoin halving, which compressed mining profitability, operators like Bitfarms are leveraging their infrastructure to capture more stable, predictable revenue from the insatiable demand for AI compute.

Expect other public miners to accelerate similar divestments of non-core assets to fund their transition into specialized data center providers.

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