Bitfarms Exits Latin America, Sells Paraguay Site for $30M
Bitcoin miner Bitfarms exiting Latin America with $30M sale of Paraguay site
Bitfarms is selling its final Latin American mining operation, agreeing to divest a 70-megawatt Bitcoin mining site in Paso Pe, Paraguay for up to $30 million.
The Toronto-based miner said it has entered into a definitive share purchase agreement to sell the facility to Sympatheia Power Fund, a crypto infrastructure fund managed by Singapore-based Hawksburn Capital.
Under the terms disclosed, the buyer will acquire the shares of the single-purpose subsidiary that holds the operating assets tied to the Paso Pe project. Bitfarms said the proposed transaction values the site at up to $30 million and that it expects to receive $9 million in cash at closing. The company expects the deal to close within 60 days of Jan. 2, 2026.
The sale marks a clear geographic and strategic shift for Bitfarms. The company said the transaction completes its exit from Latin America, moves its energy portfolio to 100% North America, and is intended to free up capital for a broader pivot toward high-performance computing (HPC) and AI infrastructure projects in North America.
- Asset sold: 70 MW Bitcoin mining site in Paso Pe, Paraguay
- Buyer: Sympatheia Power Fund, managed by Hawksburn Capital
- Deal value: up to $30 million, with $9 million expected at closing
- Strategic impact: exit from Latin America; focus shifts to North American HPC and AI infrastructure
The move comes as parts of the mining sector continue to evaluate how to deploy energy infrastructure and data-center capacity across different markets. For Bitfarms, the Paraguay divestiture represents a reallocation of capital away from its remaining Latin American footprint and toward North American opportunities the company says it is prioritizing in 2026.
