Bitfarms Sells 70 MW Paraguay Mining Site for Up to $30M in Strategic Latin America Exit

Bitfarms just pulled the plug on its Latin American ambitions—selling a massive 70-megawatt mining facility in Paraguay for a cool $30 million. The move signals a major strategic pivot for the publicly traded miner.

Why the Sudden Retreat?

While the official line will tout portfolio optimization and capital reallocation, insiders see it as a classic cut-and-run from regulatory uncertainty. The region's energy politics are getting messy—cheap power isn't so cheap when the government can flip the switch on your operation overnight.

The Numbers Tell the Story

Seventy megawatts of capacity walking out the door. That's a significant chunk of hashrate heading to the auction block. The up-to-$30-million price tag suggests Bitfarms is taking a pragmatic—some might say desperate—exit to shore up its balance sheet. Nothing says "bullish on Bitcoin" like selling your mining rigs to pay the bills.

Northward Bound

Watch where that capital flows next. Bet on expansion in politically stable jurisdictions with long-term energy contracts—think Canada or the U.S. Bitfarms isn't getting out of mining; they're getting out of regions where the rules change with the wind. Smart money follows predictable regulation, not just cheap electricity.

The mining game just entered its consolidation phase. The weak hands sell assets; the strong hands buy them at fire-sale prices. Bitfarms' exit isn't a warning sign for crypto—it's a sign the industry is growing up and cutting its losses. Sometimes the best trade is knowing when to walk away from a "good deal" that's about to turn ugly.

Refocus on North American HPC and AI Infrastructure

Bitfarms CEO Ben Gagnon said the sale represents a decisive rebalancing of the company’s energy portfolio toward North America allowing capital to be redeployed into higher-return opportunities.

“This transaction brings forward an estimated two to three years of anticipated free cash flows from operations to be reinvested into our North American HPC and AI energy infrastructure in 2026,” Gagnon said in a press release.

He adds that the sale of the Paso Pe site marks the culmination of a broader effort to exit Latin America and refocus the company’s management capital and operational priorities on North American power and infrastructure.

Bitfarms Ditches BTC for AI After Shocking $46M Loss

Bitfarms said it has increasingly positioned itself as an energy and digital infrastructure company expanding beyond bitcoin mining into high-performance computing and artificial intelligence workloads which it believes offer more long-term returns on invested capital.

In November the company said it will wind down its Bitcoin operations over 2026 and 2027 after posting a steep $46 million loss in the third quarter nearly double its $24 million loss during the same period last year.

@Bitfarms_io shares dropped 18% as it announced a wind-down in $BTC operations to pivot to AI infrastructure after a $46M Q3 loss. #Bitcoin #AI https://t.co/3Q7tsldFzS

Deal Structure and Payment Timeline

Under the terms of the agreement, the buyer will acquire the shares of a single-purpose subsidiary that holds all operating assets related to the Paso Pe project. The proposed transaction values the site at up to $30 million.

Bitfarms expects to receive $9 million in cash at closing which is anticipated in the first quarter of 2026. This amount includes a $1 million non-refundable deposit that has already been paid by the buyer.

The company may receive up to an additional $21 million over the ten months following closing, contingent on the achievement of certain payment milestones.

The structure of the transaction is expected to improve Bitfarms’ liquidity profile by accelerating the monetization of the asset while providing short-term financing supported by the operation.

Buyer Targets Operational Continuity

A representative for Sympatheia Power Fund said the acquisition supports the fund’s regional expansion strategy in crypto infrastructure and emphasized the importance of a smooth transition.

“Our priority is an uninterrupted, seamless transition from day one maintaining continuity at Paso Pe as we MOVE into the next phase of growth,” said SPF representative Josh Murchie.

Updated Energy Portfolio Post-Sale

Following completion of the transaction, Bitfarms’ energy portfolio will be entirely North America–based. The company said it will operate 341 megawatts of energized capacity with an additional 430 megawatts under active development in the United States.

Its total multi-year pipeline stands at 2.1 gigawatts with roughly 90% located in the U.S.