Bitcoin mining company Bitfarms sells Latin America operations for $30 million, continues transformation into AI and high-performance computing fields

On January 3rd, according to The Block, Bitcoin mining company Bitfarms Ltd. has agreed to sell its remaining Latin American operations as the company refocuses its strategic priorities on North America and energy and data center infrastructure related to artificial intelligence and high-performance computing. This move marks its full exit from the regional market. The company announced in a press release on Friday that it has reached a final agreement with the Singapore-based Hawksburn Capital-managed crypto infrastructure fund Sympatheia Power Fund to sell its 70 MW Paso Pe mining farm in Paraguay for up to $30 million. Under the terms of the deal, Bitfarms will receive $9 million in cash at closing (including a $1 million non-refundable deposit paid) and up to an additional $21 million over the following 10 months based on post-closing milestone conditions. Management stated that this sale effectively accelerates the realization of the farm’s expected free cash flow over the next two to three years. Bitfarms CEO Ben Gagnon pointed out that the proceeds from the sale will be reallocated starting in 2026 to North American high-performance computing and AI energy infrastructure, marking the official completion of the company’s years-long plan to shrink its Latin American operations. This sale consolidates Bitfarms’ energy asset portfolio entirely within North America, including 341 MW of operational capacity, 430 MW of under-construction capacity in the U.S., and a multi-year project pipeline totaling approximately 2.1 GW in the region. Bitfarms continues to transition from geographically dispersed Bitcoin mining operations to domestic energy assets in the U.S. capable of supporting AI and high-performance computing workloads. The company began signaling its transformation in mid-2025, emphasizing higher returns driven by increased demand for energy-intensive data centers, and subsequently announced plans to convert some mining farms into AI infrastructure.