Bitcoin mining company Bitfarms Ltd. has sold its Latin American operations for $30 million, marking its exit from the region. The sale to the Sympatheia Power Fund, managed by Hawksburn Capital, includes the 70-megawatt Paso Pe mining facility in Paraguay. Bitfarms will receive $9 million in cash at closing and an additional $21 million over the next 10 months, contingent on post-closing milestones. This strategic move aligns with Bitfarms' shift towards AI and high-performance computing sectors, focusing on North American energy and data center infrastructure. The company plans to reallocate proceeds from the sale to enhance its high-performance computing and AI energy infrastructure in North America by 2026, completing its multi-year strategy to scale back operations in Latin America.
Bitfarms Sells Latin American Operations for $30 Million
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