Bitfarms Sells 70 MW Bitcoin Mining Facility in Paraguay for $30M, Exits South America in Strategic Shift

• Why Is Bitfarms Selling Its Paraguay Mining Facility?
• How Does This Sale Fit Into Bitfarms’ North American Expansion?
• What’s the Financial Impact of This Deal?
• How Are Bitcoin Miners Leveraging AI Demand?
• What’s Next for Bitfarms and Sympatheia?
• FAQs: Bitfarms’ Paraguay Exit and Industry Implications

In a bold move to refocus its operations, Bitfarms has sold its 70 MW bitcoin mining facility in Paraguay for $30 million, marking its complete exit from South America. The buyer, Sympatheia Power Fund, plans to expand its Latin American crypto infrastructure footprint. Bitfarms will reinvest proceeds into North American high-performance computing (HPC) and AI data centers, aiming for higher capital returns. The deal comes as Bitcoin miners increasingly pivot toward AI infrastructure, with Bitfarms’ stock (BITF) surging 32% over the past year. Here’s the full breakdown of this strategic shift.

Why Is Bitfarms Selling Its Paraguay Mining Facility?

Bitfarms’ decision to sell its Paso Pe facility aligns with its broader strategy to consolidate operations in North America. The 70 MW plant, acquired by Sympatheia Power Fund, will transition ownership within 60 days under Singapore-based Hawksburn Capital’s management. Bitfarms CEO Ben Gagnon emphasized this as a "strategic rebalancing" of their energy portfolio, allowing the company to focus on higher-margin HPC/AI infrastructure in electricity-stable regions like the U.S. and Canada. The $30 million deal includes $9 million upfront cash and $21 million deferred over 10 months.

How Does This Sale Fit Into Bitfarms’ North American Expansion?

Bitfarms isn’t just exiting South America—it’s doubling down on North America. The company currently operates 341 MW of mining capacity, with another 430 MW in development. Its multi-year plan targets 2.1 GW of data center capacity, 90% of which will be U.S.-based. This mirrors industry trends where miners like Riot and IREN are also prioritizing politically stable jurisdictions with reliable energy. Notably, Bitfarms secured a $300 million long-term credit line in April 2025 to fuel this expansion, signaling confidence in its revised roadmap.

What’s the Financial Impact of This Deal?

The transaction immediately boosts Bitfarms’ liquidity, with proceeds earmarked for AI/HPC infrastructure investments by 2026. Despite being a mid-tier miner (19.5 EH/s hash rate), Bitfarms holds 1,827 BTC in treasury—a top 100 position among public miners. Its stock (BITF) traded at $2.96 ($3.93 CAD) post-announcement, reflecting a 32% yearly gain. This outperformance coincides with Bitcoin’s price recovery and the sector’s pivot toward AI-adjacent revenue streams. As one BTCC analyst noted, "Miners are no longer just BTC plays; they’re becoming diversified tech infrastructure bets."

How Are Bitcoin Miners Leveraging AI Demand?

The Paraguay sale underscores a broader industry shift. Bitcoin mining facilities, with their pre-built power infrastructure, are increasingly repurposed for AI data centers. Bitfarms explicitly cited HPC/AI as a key reinvestment focus, joining peers like Hut 8 and Core Scientific in this transition. The trend capitalizes on AI’s insatiable demand for reliable, high-uptime computing—a natural fit for miners’ existing operations. While Bitcoin mining remains profitable near all-time highs, diversification hedges against crypto volatility.

What’s Next for Bitfarms and Sympatheia?

For Bitfarms, the path forward is clear: deploy capital into North American energy assets with dual-use potential (mining + AI). Sympatheia, meanwhile, gains a turnkey mining operation in Paraguay—a strategic foothold for Latin American expansion. The facility will continue uninterrupted operations during ownership transfer, preserving local jobs and hash rate stability. This win-win deal exemplifies how crypto infrastructure is maturing beyond single-use cases.

FAQs: Bitfarms’ Paraguay Exit and Industry Implications

Why did Bitfarms choose to exit South America?

Bitfarms is reallocating resources to North America, where energy contracts and regulatory conditions are more favorable for its HPC/AI ambitions. The sale simplifies its geographic footprint while unlocking capital.

How will the $30 million sale proceeds be used?

Funds will primarily fund high-efficiency data centers in the U.S. and Canada, with a focus on AI-optimized infrastructure expected to go live in 2026.

Does Bitfarms still hold Bitcoin?

Yes. As of this transaction, Bitfarms retains 1,827 self-mined BTC, making it a top 100 corporate holder.