Bitfarms Sells $30M Bitcoin Mining Site, Exits Latin America

Bitfarms has announced a full exit from Latin America after agreeing to sell its 70 MW Paso Pe Bitcoin mining site in Paraguay. 

This move completes the company’s strategic pivot toward becoming a 100% North American digital infrastructure operator and energy provider, with a greater focus on high-performance computing (HPC) and AI workloads.

Strategic Exit From Paraguay Bitcoin Mine

Notably, Bitfarms has agreed to sell the Paso Pe site to Sympatheia Power Fund, operated by Singapore’s Hawksburn Capital. The deal will close in 60 days and marks Bitfarms’ complete exit from Latin America. 

Management plans to use the proceeds to invest in higher-return opportunities in AI and advanced computing infrastructure in North America starting in 2026.

Under the agreement, the buyer will acquire the subsidiary that owns all Paso Pe assets. The transaction values the site at around $30 million. Bitfarms is set to receive:

• $9 million in cash at closing, expected in Q1 2026, which includes a $1 million deposit already paid.
• $21 million in additional payments over the 10 months following closing, tied to specific milestones.

This structure enhances near-term liquidity while allowing Bitfarms to exit the asset in an orderly manner.

Rebalancing to a 100% North American Portfolio

Following the sale, Bitfarms’ entire energy portfolio will be based in North America. The updated breakdown includes:

• 341 MW of energized capacity
• 430 MW under active development, all located in the U.S.
• A 2.1 GW multi-year pipeline across North America, with roughly 90% based in the U.S.

The company believes this geographic concentration, combined with strong access to power and fiber in key data center hubs, positions it well for both Bitcoin mining and AI/high-performance computing.

Sympatheia Power Fund has indicated that its priority is maintaining uninterrupted operations at Paso Pe, ensuring continuity as the site enters its next phase under new ownership. The acquisition also supports the fund’s regional expansion strategy in crypto infrastructure.

Bigger Picture for Bitfarms

Founded in 2017, Bitfarms has grown from a single Bitcoin miner into an energy and digital infrastructure company. 

With the Paso Pe sale, it is fully focusing on North America and plans to invest in AI-driven data centers for higher long-term returns. 

The sale also reflects a broader trend of miners adjusting portfolios, improving liquidity, and moving into areas where crypto mining, energy, and AI intersect.