Bitfarms completes Latin America exit with $30M Paraguay site sale

Bitfarms (NASDAQ:BITF) announced on January 2, 2026, that it has entered into a definitive agreement to sell its 70 MW Bitcoin mining site in Paso Pe, Paraguay, to the Sympatheia Power Fund (SPF).

The transaction, valued at up to $30 million, marks the final step in the company’s strategic exit from Latin America.

The deal structure includes an immediate $9 million cash injection at closing—expected within 60 days—which incorporates a $1 million non-refundable deposit already received by Bitfarms.

The remaining $21 million will be paid over a 10-month period following the closing, contingent upon specific payment milestones.

The divestiture completes a year-long pivot for the Toronto-based firm.

Throughout 2025, Bitfarms methodically unwound its international footprint, including the sale of its 200 MW Yguazu site and the closure of its Rio Cuarto facility in Argentina due to power supply disruptions.

By exiting Paraguay, Bitfarms’ energy portfolio is now 100% North American.

The move allows management to refocus capital and technical resources on high-performance computing (HPC) and artificial intelligence (AI) projects in the United States and Canada, where returns on invested capital are currently projected to be significantly higher than traditional Bitcoin mining.