Bitfarms Ltd. (NASDAQ:BITF) announced on January 2 the sale of its 70 MW Bitcoin mining facility in Paso Pe, Paraguay to Sympatheia Power Fund. The company's management stated this transaction represents its complete withdrawal from Latin American operations as it shifts focus entirely to North America.
The deal is anticipated to conclude within 60 days of the announcement. According to transaction details, Bitfarms will receive $9 million in cash upon closing, expected in the first quarter of 2026. Additionally, the company is set to obtain up to $21 million over the subsequent 10 months through milestone payments following the transaction's completion.
Management indicated this move supports their strategic plan to concentrate on North America for improved returns in high-performance computing and artificial intelligence infrastructure. The sale also accelerates two to three years of projected free cash flow from the Paso Pe site, enabling reinvestment opportunities.
Bitfarms Ltd., a prominent North American energy and digital infrastructure firm, focuses on high-performance computing and Bitcoin mining activities.