Bitfarms sells $30 million worth of Paraguayan mining farm, initiates North American strategic upgrade

Bitcoin mining giant Bitfarms announces a significant geographic strategic shift—by selling its mining facility in Paso Pucú, Paraguay, it officially exits the Latin American market. This transaction marks the company’s accelerated transition from traditional Bitcoin mining to high-performance computing and artificial intelligence energy infrastructure.

The asset transfer is managed by Sympatheia Power Fund (SPF), operated by Hawksburn Capital in Singapore, with a total transaction value of up to $30 million, demonstrating the market appeal of the Paraguay mining farm.

Phased Payment Structure Ensures Cash Flow

Bitfarms will adopt a staged payment model to ensure a secure transaction. An initial payment of $9 million will be received immediately, with up to $21 million remaining to be paid in installments over the next 10 months based on specific delivery milestones. This structure allows Bitfarms to access significant cash upfront to advance its operations in North America.

The entire delivery process is expected to be completed within 60 days, subject to standard transaction closing conditions. CEO Ben Gagnon stated that the cash flow released from this deal will accelerate the company’s operational goals, which were originally projected to take two to three years. The funds will be reallocated by 2026 to high-performance computing (HPC) and artificial intelligence (AI) energy infrastructure projects in North America.

The Final Step in Latin American Mining Deployment

The sale of the Paraguay mining farm is not an isolated event. Last year, Bitfarms sold another mining facility in Iguazu, Paraguay, to competitor Hive Digital Technologies for $85 million. The less than one-year gap between the two transactions fully demonstrates Bitfarms’ systematic retreat from Latin American operations.

Shifting Investment Focus in the AI Era

Through this series of asset disposals in Paraguay, Bitfarms is redefining its role in the digital asset mining industry. The management team is confident in achieving stronger investment returns through HPC and AI infrastructure. This strategic shift reflects the broader evolution of the cryptocurrency industry—from simple coin mining to more energy-intensive computing applications.

As of the latest quote, Bitfarms stock (BITF) rose about 4% in pre-market trading to $2.45. Meanwhile, Bitcoin’s price remains stable at $77,910, and the market’s reaction to such strategic adjustments has been relatively steady.