Bitfarms Completes Strategic Exit from Latin America with $30 Million Paraguay Facility Sale

Bitfarms Completes Strategic Exit from Latin America with $30 Million Paraguay Facility Sale January 8, 2026 In a significant move reflecting the shifting priorities of the digital infrastructure sector, Bitfarms Ltd., a North American energy and data center infrastructure company, has finalized its strategic withdrawal from Latin America. The company announced the sale of its 70-megawatt (MW) cryptomining facility in Paso Pe, Paraguay, to the Sympatheia Power Fund (SPF), a crypto infrastructure fund managed by Hawksburn Capital, for a total transaction value of $30 million. This sale marks the completion of Bitfarms' planned exit from the region, a strategic pivot designed to concentrate its operational and investment resources exclusively on the North American market. The decision underscores a broader industry trend where companies are reallocating capital towards high-growth opportunities in artificial intelligence (AI) and high-performance computing (HPC) infrastructure, particularly within the United States and Canada. Under the terms of the agreement, Bitfarms will receive $9 million in cash at closing, which includes a non-refundable $1 million deposit already paid. The remaining $21 million is contingent upon the achievement of specific payment milestones over the subsequent ten months. The transaction is expected to close before the end of the first quarter of 2026. Bitfarms' CEO, Ben Gagnon, framed the divestiture as a "decisive rebalancing of the energy asset portfolio," accelerating the company's focus on North American infrastructure for HPC and AI. Gagnon noted that the sale brings forward two to three years of expected free cash flow, which will be reinvested in 2026 to generate stronger returns. Following the sale, Bitfarms' North American energy profile stands at 341MW of energized capacity, with 430MW under active development and a multi-year pipeline of 2.1 gigawatts (GW), approximately 90% of which is based in North America. For the buyer, Josh Murchie of the Sympatheia Power Fund stated that the acquisition "accelerates our regional expansion plan," with a priority on ensuring "a seamless transition and operational continuity in Paso Pe from day one." The sale is part of a series of divestments for Bitfarms, which recently sold another Paraguayan site to HIVE Digital and has been actively converting and developing sites in the United States for AI and HPC hosting. The move strengthens Bitfarms' liquidity profile and sharpens its strategic focus on capitalizing on the explosive demand for next-generation computing infrastructure closer to home. Source: datacenterdynamics