Bitfarms has completed its exit from Latin America by selling its 70 MW mining facility in Paso Pe, Paraguay, to Sympatheia Power Fund for up to $30 million. The sale, which includes an initial $1 million non-refundable deposit, will fund Bitfarms' expansion into artificial intelligence (AI) and high-performance computing (HPC) infrastructure in the U.S. The company now operates entirely in North America, with 341 MW of active capacity and 430 MW under development. CEO Ben Gagnon confirmed the strategic shift towards AI and HPC, aligning with industry trends. Bitfarms plans to convert an 18 MW facility in Washington state for AI operations, part of a broader 2.1-gigawatt development plan. Despite a recent 18% drop in Bitfarms' stock, investment bank Keefe, Bruyette & Woods upgraded its rating to "outperform," reflecting confidence in the company's new direction.
Bitfarms Sells Paraguay Facility for $30M, Focuses on U.S. AI Expansion
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