Bitcoin mining firm Bitfarms sells Latin America operations for $30 million, continues shift towards AI and high-performance computing

On January 3, Bitcoin mining firm Bitfarms Ltd. has agreed to sell its remaining Latin American operations as it refocuses on North America and energy/data center infrastructure tied to artificial intelligence (AI) and high-performance computing (HPC)—marking its full exit from the region’s market, per The Block. In a Friday press release, Bitfarms announced a definitive agreement to sell its 70-megawatt (MW) Paso Pe mining facility in Paraguay to Sympatheia Power Fund (a crypto infrastructure fund managed by Singapore’s Hawksburn Capital) for up to $30 million. Under the deal terms, Bitfarms will receive $9 million in cash at closing (including a $1 million non-refundable deposit already paid) and up to an additional $21 million via post-closing milestones over the next 10 months. Management noted the sale effectively frontloads the mine’s expected free cash flow for the next two to three years. Bitfarms CEO Ben Gagnon said proceeds from the sale will be reallocated starting in 2026 to North American AI and HPC energy infrastructure—signaling the completion of the company’s multi-year plan to contract its Latin American business. The sale consolidates Bitfarms’ energy asset portfolio entirely in North America, which includes: - 341 MW of operational capacity, - 430 MW under construction in the U.S., - A multi-year project reserve totaling approximately 2.1 gigawatts (GW) in the region. Bitfarms is continuing its transition from geographically diverse Bitcoin mining operations to U.S.-based energy assets that support AI and HPC workloads. The company first signaled the shift in mid-2025, emphasizing higher return prospects from growing demand for high-energy data centers, and later announced plans to repurpose some mining facilities for AI infrastructure.