Bitcoin mining company Bitfarms Ltd. is completing a strategic exit from Latin America as it sharpens its focus on North American energy and data center infrastructure designed for artificial intelligence and high-performance computing (HPC).
The company announced on Friday that it has signed a definitive agreement to sell its 70-megawatt Paso Pe facility in Paraguay, its last remaining asset in the region. The site will be acquired by Sympatheia Power Fund, a crypto infrastructure investment vehicle managed by Singapore-based Hawksburn Capital, for proceeds of up to $30 million.
Bitfarms Ltd.Under the agreement, Bitfarms will receive $9 million in cash at closing. That amount includes a $1 million non-refundable deposit that has already been paid. The remaining consideration, up to $21 million, is tied to specific post-closing milestones expected to be met over the next 10 months. According to the company, the transaction effectively accelerates two to three years’ worth of anticipated free cash flow from the Paraguayan operation.
Chief Executive Officer Ben Gagnon said the sale marks the conclusion of a multi-year wind-down of Bitfarms’ Latin American presence. He added that the capital unlocked by the transaction will be redeployed into North American projects focused on HPC and AI-ready energy infrastructure, beginning in 2026.
With the Paraguay sale, Bitfarms’ energy portfolio is now fully concentrated in North America. The company reports 341 megawatts of currently energized capacity, 430 megawatts under active development across the United States, and a longer-term regional pipeline totaling approximately 2.1 gigawatts.
The move reflects a broader strategic repositioning underway at Bitfarms and across the digital asset mining sector. Over the past year, the company has been signaling a shift away from geographically dispersed bitcoin mining operations toward U.S.-based power assets capable of supporting energy-intensive data center workloads. Management has cited stronger risk-adjusted returns, improved regulatory clarity, and growing demand from AI and cloud computing customers as key drivers behind the change.
In mid-2025, Bitfarms began outlining plans to adapt select mining facilities for AI and HPC use cases, aligning its infrastructure with what it views as a longer-term growth opportunity beyond cryptocurrency cycles. The company’s leadership has emphasized that high-density computing applications require reliable power, scalable infrastructure, and proximity to major North American markets.
Market performance has mirrored the company’s transition period. Shares of Bitfarms, which trade under the ticker BITF, were changing hands at around $2.60 on Thursday. While the stock has recovered modestly from its mid-December lows, it remains well below its October 2025 peak of roughly $6.50, based on data.
The sale of the Paraguay site underscores how mining companies are reassessing asset allocation as the intersection between energy, data centers, and AI continues to evolve. For Bitfarms, the transaction represents both a clean geographic exit and a financial bridge toward its next phase of development.
