Bitfarms sells 70 MW Paraguay mining site and exits South America

Bitfarms, a North American energy and data center company, announced it reached an agreement to sell its 70 MW site in Paraguay. The facility will be acquired by the Sympatheia Power Fund, a crypto infrastructure investor. 

Bitfarms will sell its 70 MW facility in Paraguay, as it rebalances its portfolio of reliable centers and focuses on North America. With the sale, Bitfarms leaves its South American mining operations. 

The Paso Pe site in Paraguay is expected to transfer within 60 days, under the management of the Singapore-based Hawksburn Capital. 

‘I’m pleased to announce the strategic sale of our Paso Pe site and decisive rebalancing of our energy portfolio to 100% North American. 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/AI energy infrastructure in 2026, where we believe we will be able to generate much stronger returns on our invested capital with HPC/AI,’ said Bitfarms CEO Ben Gagnon.

Bitfarms is a mid-range mining company with 19.5 EH/s in total BTC mining power. The company is also within the top 100 of BTC treasury holders, retaining 1,827 BTC from its mining activity. 

The Paraguay center will go toward Sympatheia Power Fund’s expansion plans for Latin America. The mining center will retain operations, with no outages during the transfer of ownership. 

Bitfarms sells BTC mining center for $30M

Bitfarms will sell the Paso Pe BTC mining facility at a $30M valuation, with $9M in cash and up to $21M over a 10-month period.  

After the deal, Bitfarms will focus solely on North American energy assets while improving its liquidity profile for further expansion. Bitfarms negotiated a $300M long-term debt facility in April 2025 as part of its energy expansion plans. 

Bitfarms retains 341 MW in energy capacity, with another 430 MW in active development. The multi-year plan is to reach a total of 2.1 GW in data centers, of which 90% will be based in the USA. Bitfarms has been on an expansion track since 2017, and is one of the leaders in North American mining infrastructure. 

Bitfarms benefits from AI data center boom

The sale arrives at a time when Bitcoin mining operations are often converted to high-uptime AI centers, based on existing contracts for reliable electricity.

Following the deal announcement, BITF shares were trading at $2.96 (3.93 CAD), up over 32% net for the past year. The period coincided with revenue growth for BITF, as the miner benefited from the growing prices. 

In early 2026, BTC miners are still operating at near peak capacity, despite the distressing market conditions. Even smaller mining companies are viewed as potential bets with high returns. BITF is expected to break out based on its ongoing data center plans. BITF is competing with other recently hot mining companies like Riot and IREN, with stocks rising despite the slower BTC market growth.

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