Bitfarms Agrees to Sell 70 MW Paso Pe Mine, Pulls Out of Latin America to Fund North American AI and HPC Plans Bitfarms Ltd. has announced the sale of its Paso Pe Bitcoin mining site in Paraguay — a move that effectively ends the company’s footprint in Latin America as it redeploys capital to North America. The 70-megawatt facility was sold for up to $30 million under a staged-payment agreement the company says will free cash for projects closer to home. Deal structure and timing - Buyer: Sympatheia Power Fund, an infrastructure fund managed by Singapore-based Hawksburn Capital. - Consideration: $9 million in cash at closing plus milestone payments that could total up to $21 million (maximum deal value $30 million). - Status: A $1 million non-refundable deposit has already been paid. Remaining milestone payments are tied to post-closing conditions expected to be completed over roughly 10 months. Bitfarms says the transaction is expected to close within about 60 days, subject to customary conditions. Why Bitfarms is selling CEO Ben Gagnon framed the transaction as a strategic acceleration of liquidity: the sale “brings forward an estimated two to three years of anticipated free cash flows,” funds the company intends to reinvest in North American high-performance computing (HPC) and AI energy infrastructure in 2026. Following the move, Bitfarms says its energy portfolio is now 100% North American. Market reaction and regional pullback Markets responded quickly — Bitfarms’ shares ticked up on the news — as investors appear to favor the company’s cash-flow focus and geographic consolidation. The Paso Pe deal follows earlier disposals of Paraguayan assets and signals a steady pullback from South America as Bitfarms concentrates resources on the U.S. and Canada. Buyer plans and unknowns Sympatheia Power Fund will take over the Paso Pe site and related operations, but the announcement did not provide details on the fund’s plans for the facility. Reports portray the transfer as a conventional handoff of an operating energy and mining asset. Broader industry context Analysts have noted a broader trend among miners since the Bitcoin halving: operators are reshaping portfolios amid rising demand for data compute. Many are shifting toward sites with flexible power use or repurposing infrastructure for AI and HPC workloads. Bitfarms’ sale is one of several examples of miners selling overseas plants and redeploying capital into U.S. and Canadian projects. Featured image: BTC Echo; chart: TradingView. Read more AI-generated news on: undefined/news

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