The company’s energy operations will become “100% North American” following the sale of the Paraguayan site.
Bitcoin mining company Bitfarms announced a complete exit from the Latin American market following a $30 million sale of a Paraguayan facility.
In a Friday notice, Bitfarms said it had reached an agreement with the Sympatheia Power Fund for its 70 megawatt (MW) facility in Paso Pe, Paraguay. Under the deal, the power company will acquire shares of the Bitfarms subsidiary that holds the assets for the facility, with the crypto miner receiving $9 million in cash in the first quarter of 2026 and $21 million over the next 10 months.
According to Bitfarms CEO Ben Gagnon, the company’s energy operations would become “100% North American” following its exit from Latin America, with cash from the deal reinvested into AI and high performance computing (HPC) infrastructure this year. The company said it had 430 MW capacity under development in the US, with 2.1 gigawatts as part of a multi-year plan for North America.
