Bitfarms completes Latam exit with Paraguay site sale

Bitfarms confirmed its full exit from Latin America after agreeing to sell its Paso Pe mining site in Paraguay.

The publicly listed US bitcoin miner signed a purchase agreement with Singapore-based Sympatheia Power Fund.

The Paso Pe facility has a power capacity of 70 megawatts and will transfer operations within 60 days.

The transaction values the site at $30 million, with $9 million payable in the first quarter of 2026.

The remaining $21 million will be paid over the subsequent 10 months.

Bitfarms chief executive Ben Gagnon said the deal completes the company’s strategic withdrawal from the region.

The sale of Paso Pe is the culmination of a series of transactions to completely exit Latam and refocus on 100% North American power and infrastructure.

Ben Gagnon said.

Sympatheia Power Fund said it aims to ensure uninterrupted operations during the transition.

Our priority is an uninterrupted, seamless transition from day one.

Josh Murchie said.

The exit leaves Bitfarms operating exclusively with North American energy sources.

The move aligns with Bitfarms’ shift towards high-performance computing and artificial intelligence workloads.

The company previously said it is positioning itself to support next-generation Nvidia GPU infrastructure.

At the time of reporting, Bitcoin price was $93,090.18.