Bitcoin Miner Bitfarms Sells Paraguay Site and Shifts Fully to North American Markets

TLDR

• Bitfarms sold its Paraguay site for up to $30M to shift focus to North American AI infrastructure.

• The company will receive $9M upfront and up to $21M based on post-closing milestones.

• Bitfarms plans to phase out Bitcoin mining by 2027 as AI projects take priority.

• The firm’s U.S. pipeline includes over 2.1GW of energy capacity for AI and HPC use.

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Bitfarms Ltd. has reached a deal to sell its 70-megawatt site in Paso Pe, Paraguay, to Sympatheia Power Fund. The transaction is valued at up to $30 million and represents the company’s complete exit from its Latin American operations.

The buyer, Sympatheia, is a crypto infrastructure fund managed by Singapore-based Hawksburn Capital. Bitfarms will receive $9 million in cash at the time of closing, which is expected in the first quarter of 2026. An additional $21 million may be received over the next 10 months based on agreed post-closing milestones.

According to CEO Ben Gagnon, the sale brings forward around two to three years of expected free cash flow. These proceeds will be reinvested into energy infrastructure projects supporting AI and HPC in North America.

Bitfarms Shift to North American AI and HPC Operations

Bitfarms is realigning its operations toward high-performance computing and artificial intelligence workloads. With the Paraguay sale completed, the company now holds all its energy assets and development projects in North America.

Currently, Bitfarms has 341 megawatts of energized capacity and 430 megawatts under development in the United States. Its long-term project pipeline includes around 2.1 gigawatts of energy capacity focused on data center infrastructure.

The company’s leadership stated the transition reflects growing demand for AI-ready, energy-dense infrastructure and reduced profitability in traditional Bitcoin mining. The move follows a broader trend among crypto miners adapting to new market demands.

Bitcoin Mining Wind-Down by 2027

Bitfarms plans to gradually exit Bitcoin mining operations by 2027. The first step in this process will be converting its 18-megawatt site in Washington State. This facility is expected to be repurposed for Nvidia’s upcoming GB300 GPU-based systems.

CEO Ben Gagnon previously announced that Bitfarms’ future growth would focus on building liquid-cooled GPU infrastructure. The company plans to support AI and cloud computing workloads, especially as Nvidia’s Vera Rubin chips launch in late 2026.

The transition is backed by a $588 million financing round secured in 2025. These funds will support asset conversions and energy infrastructure development in the U.S.

Industry-Wide Trend Toward AI Infrastructure

Bitfarms is not alone in its strategic shift. Other crypto mining firms such as Core Scientific, Iren, Hive Digital, and Terawulf have also announced moves into AI and HPC markets.

These changes are driven by rising electricity costs and lower returns from Bitcoin mining. Companies are seeking more sustainable and profitable models that align with evolving technological needs.

Bitfarms’ stock saw a 4% increase in premarket trading following the announcement. The company’s shares were last trading near $2.60, down from a peak of $6.50 in October 2025.

The firm’s complete exit from Latin America closes a chapter in its global operations as it prepares for a new role in the AI and HPC sector.

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