Bitfarms Exits LatAm, Sells Paraguay Site for $30M
Bitcoin miner Bitfarms exiting Latin America with $30M sale of Paraguay site
Bitfarms (NASDAQ/TSX: BITF) has agreed to sell its 70-megawatt (MW) Bitcoin mining site in Paso Pe, Paraguay, marking the company’s exit from Latin America.
The miner said it entered a definitive share purchase agreement to sell the project to Sympatheia Power Fund, a crypto infrastructure fund managed by Singapore-based Hawksburn Capital. The proposed transaction values the site at up to $30 million.
Under the agreement, the buyer will acquire the shares of a single-purpose subsidiary that holds all operating assets related to the Paso Pe project. Bitfarms expects to receive $9 million in cash at closing and said it anticipates the deal will close within 60 days of Jan. 2, 2026.
The company has framed the divestment as part of a strategic shift in its energy and infrastructure footprint. With the Paso Pe sale, Bitfarms said it is moving to a 100% North American energy portfolio and positioning itself toward North American AI and high-performance computing (HPC) infrastructure.
The Paraguay exit follows earlier asset sales in the country. Bitfarms’ departure comes about a year after it sold other Paraguayan mining sites, including Yguazú, to Hive Digital Technologies (HIVE), as part of a broader pullback from Latin America.
- Asset sold: 70 MW Paso Pe Bitcoin mining site in Paraguay
- Buyer: Sympatheia Power Fund
- Transaction value: up to $30 million, with $9 million expected in cash at closing
- Strategic impact: completes Bitfarms’ exit from Latin America and aligns operations with North American AI/HPC and energy infrastructure
