important notes
BitFarms has sold its 70MW Pasope mine in Paraguay for up to $30 million. The sale marks the company’s complete exit from Latin America. The buyer is the Sympatheia Power Fund, managed by Singapore-based Hawksburn Capital.
BitFarms is selling its 70-megawatt Pasope Bitcoin mine in Paraguay for up to $30 million, completing its exit from Latin America.
The company announced the deal on January 2, identifying the buyer as Sympatheia Power Fund (SPF), a crypto infrastructure fund managed by Singapore-based Hawksburn Capital.
Following the news, BitFarms (BITF) shares rose more than 4% to $2.44 in pre-market trading. The deal rebalances the company’s energy portfolio to be 100% North American.
BitFarms finalizes withdrawal to strengthen North American energy strategy
The transaction structure includes $9 million in cash at closing, expected in the first quarter of 2026, followed by up to $21 million in milestone-based payments over the next 10 months.
The sale is the final step in BitFarms’ strategic shift away from the region and focusing on high performance computing (HPC) and AI infrastructure in the United States and Canada.
“We believe this transaction will accelerate free cash flow from our operations by an estimated two to three years, allowing us to reinvest in our North American HPC/AI energy infrastructure and generate greater returns in 2026,” said CEO Ben Gagnon.
The move comes after the company reported a net loss of $46 million in the third quarter of 2025, during which time the company also announced plans to wind down its Bitcoin mining operations from 2026 to 2027.
With this sale, BitFarms’ operating footprint will be concentrated in 341 MW of current-carrying capacity and 2.1 GW of development pipeline, approximately 90% of which is located in the United States.
This follows an earlier move in January 2025, when Bitfarms sold its 200MW Iguazu mining facility in Paraguay to Hive Digital for $85 million.
Transitioning from mining to digital infrastructure
This sale is less about geographic preference and more about the fundamental axis of capital allocation.
Bitcoin miners are actively rebranding as energy and digital infrastructure companies. Core assets such as power purchase agreements and data center infrastructure are becoming increasingly fungible between mining cryptocurrencies and servicing the lucrative AI/HPC sector.
After the Bitcoin halving in 2024, which compresses mining profitability, operators like Bitfarms are leveraging their infrastructure to capture more stable and predictable revenue from the insatiable demand for AI computing.
Other public miners are also expected to accelerate similar non-core asset sales to fund their transition to specialized data center providers.
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Hamza is an experienced cryptocurrency editor/writer with a deep understanding of blockchain technology, cryptocurrency markets, and digital finance. He is passionate about making complex topics accessible and helping readers navigate the rapidly evolving world of cryptography.
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