Quick Takeaways
- Bitfarms sold its final Latin American asset, a 70-megawatt Paraguay site, for up to $30 million.
- The company plans to redeploy proceeds into North American AI and high-performance computing infrastructure.
- With the sale, Bitfarms’ entire energy portfolio is now concentrated in North America.
Bitcoin miner Bitfarms Ltd. has finalized its exit from Latin America. The company sold its remaining Paraguay operation as part of a strategic shift. In a Friday press release, Bitfarms confirmed a definitive sale agreement. The buyer is Sympatheia Power Fund, managed by Hawksburn Capital.
The asset includes the 70-megawatt Paso Pe site in Paraguay. The transaction values the deal at up to $30 million. This move ends Bitfarms’ multi-year presence in the region. Management described the sale as a turning point.
The company is now fully focused on North America. Its priorities center on AI and high-performance computing infrastructure.
Deal Structure Brings Forward Cash Flow
Under the agreement, Bitfarms will receive $9 million at closing. This includes a $1 million non-refundable deposit already paid.
The remaining $21 million depends on post-closing milestones. These payments will occur over the next 10 months.
Management said the structure accelerates future returns. It effectively pulls forward two to three years of expected cash flow.
The company did not disclose the specific milestones. However, they relate to site development and operational readiness.
The deal provides near-term liquidity. It also reduces geographic and operational complexity.
Capital Redirected Toward AI and HPC Infrastructure
Bitfarms CEO Ben Gagnon said proceeds will fund new priorities. The capital will be redeployed into North American projects.
The focus is on AI and high-performance computing data centers. These facilities require energy-dense and reliable power assets.
Gagnon said investments will begin in 2026. They mark a shift away from pure bitcoin mining.
The company has increasingly highlighted AI demand. Management views it as a higher-return opportunity.
Energy infrastructure suited for AI workloads commands premiums. That trend has attracted miners seeking diversification.
Bitfarms said the Paraguay sale supports this transition. It frees capital tied to lower-growth assets.
North American Portfolio Now Takes Center Stage
With Latin America exited, Bitfarms’ portfolio is fully regionalized. All energy assets and development plans now sit in North America.
The company reports 341 megawatts of energized capacity. An additional 430 megawatts are under active development in the U.S.
Bitfarms also cited a multi-year pipeline of 2.1 gigawatts. These projects span power generation and data center infrastructure.
Concentrating assets simplifies regulatory exposure. It also aligns with customer demand for the U.S.-based capacity.
North America remains a key market for AI expansion. Hyperscalers continue to seek long-term power agreements.
Bitfarms aims to position itself within that supply chain. Mining infrastructure offers a starting point.
Industry-Wide Shift Toward AI and HPC
Bitfarms’ strategy mirrors a broader industry trend. Many miners are pivoting toward AI and HPC workloads.
The shift gained momentum in mid-2025. Companies cited stronger returns than bitcoin mining alone.
AI data centers consume far more power per site. They also offer longer-term contracts.
Several miners announced site conversions last year. Others pursued joint ventures with AI infrastructure firms.
Bitfarms signaled this direction months ago. The Paraguay sale formalizes that transition.
Management said that geographically dispersed mining no longer fits. Capital discipline has become a priority.
Market Reaction and Investor Context
Shares of Bitfarms traded around $2.60 on Thursday. The stock has rebounded modestly from mid-December lows.
However, it remains well below 2025 highs near $6.50. Those peaks occurred in October, according to The Block data.
The decline reflects broader pressure on mining stocks. Bitcoin price volatility and margin compression weighed on valuations.
Investors now watch the execution of the AI strategy. Clear milestones could support sentiment.
The Paraguay sale may improve balance sheet flexibility. It also signals a clearer strategic narrative.
What Comes Next for Bitfarms
Bitfarms has completed a major transition phase. Its Latin American wind-down is now finished.
The next chapter centers on infrastructure development. AI and HPC workloads will drive capital allocation.
Execution risk remains. Data center projects require scale and partnerships.
Still, management believes the opportunity is compelling. Demand for computers and power continues to rise.
By concentrating on North America, Bitfarms narrows its focus. The company now bets on AI as its future growth engine.