Catenaa, Wednesday, January 07, 2026- Bitcoin miner Bitfarms Ltd. has sold its 70-megawatt Paso Pe site in Paraguay for up to $30 million, marking the company’s full exit from Latin America.
The buyer, Sympatheia Power Fund managed by Singapore’s Hawksburn Capital, will pay $9 million at closing, including a $1 million nonrefundable deposit, with the remaining $21 million tied to milestones over the next 10 months.
Bitfarms said the transaction accelerates two to three years of expected free cash flow from the site, freeing capital for North American energy and data infrastructure supporting high-performance computing and artificial intelligence workloads.
CEO Ben Gagnon said the sale concludes the multi-year wind-down of the firm’s Latin American operations and positions Bitfarms to fully concentrate its energy portfolio in North America.
The company now operates 341 megawatts of energized capacity in the US, with 430 megawatts under active development and a multi-year pipeline of roughly 2.1 gigawatts across the region.
Bitfarms began pivoting toward US-based, energy-dense data centers in mid-2025, citing stronger returns and growing demand for AI and HPC support.
Some existing mining sites are planned to be converted to AI infrastructure to capitalize on surging demand for high-performance computing power.
Bitfarms’ stock (BITF) traded near $2.60 Thursday, rebounding from mid-December lows but well below the $6.50 peak reached in October 2025.
The company’s exit from Latin America reflects a broader industry trend of consolidating mining operations in regions with reliable, scalable energy assets capable of supporting advanced computing applications.
