Bitfarms to Exit Latin America by Selling 70 MW Paraguay Bitcoin Mining Site for Up to $30 Million
Bitfarms is set to sell its 70 MW Paso Pe bitcoin mining site in Paraguay for up to $30 million, marking its exit from Latin America. The sale will be completed through a definitive share purchase agreement with Sympatheia Power Fund, managed by Hawksburn Capital based in Singapore. The transaction is expected to close within 60 days, subject to standard conditions.
Under the agreement, the buyer will acquire shares of a single-purpose subsidiary that owns the Paso Pe assets, which are valued at up to $30 million. Bitfarms will receive $9 million in cash at closing, including a $1 million non-refundable deposit, with the possibility of receiving up to an additional $21 million over the next ten months contingent on achieving specified milestones.
CEO Ben Gagnon stated that this sale rebalances Bitfarms' energy portfolio toward North America and allows capital to be reinvested in North American high-performance computing and AI energy infrastructure projects planned for 2026. This transaction completes Bitfarms' broader strategic shift away from Latin America and Bitcoin mining toward energy and digital infrastructure. The company reported a loss of about $46 million in Q3 2025 and plans to wind down BTC operations by 2026–2027.
Following the sale, Bitfarms' energy portfolio will be entirely North America-based, with 341 MW already energized and 430 MW under active development in the U.S., and a total multi-year pipeline of around 2.1 GW, approximately 90% located in the U.S. Sympatheia Power Fund emphasized its commitment to a smooth, uninterrupted transition at Paso Pe as it advances into the next growth phase for crypto infrastructure.
