Bitfarms Exits Latin America, Sells Paraguay Bitcoin Site for $30M
Bitcoin miner Bitfarms exiting Latin America with $30M sale of Paraguay site
Bitcoin miner Bitfarms is preparing to exit Latin America after reaching an agreement to sell its mining site in Paso Pe, Paraguay, according to the company.
The deal is valued at $30 million and involves Bitfarms’ last remaining Bitcoin mining operation in Paraguay. Once the transaction is completed, the company will no longer operate mining sites in Latin America.
The move reflects a broader shift in Bitfarms’ business priorities. The company said it will now mostly focus on the high-performance computing industry, a segment that typically centers on running data-center infrastructure for compute-intensive workloads rather than solely securing the Bitcoin network.
Bitfarms’ decision highlights how some crypto miners are reassessing their geographic footprints and operational strategies, including the balance between traditional Bitcoin mining and other data-center opportunities.
