Bitfarms Paraguay Site Sale 2026: Exiting Latin America for $30M to Fuel AI Infrastructure
Bitfarms sells its Paraguay mining site for $30M to Sympatheia Power Fund. The 2026 strategy focuses on reinvesting in North American HPC and AI energy infrastructure.
Bitcoin mining profits are finding a new home in artificial intelligence. Bitfarms (BITF) is officially exiting Latin America with the sale of its Paso Pe facility in Paraguay. This isn't just a simple asset liquidation; it's a calculated bet on the future of AI and high-performance computing (HPC) energy infrastructure in North America.
The Details Behind the Bitfarms Paraguay Site Sale 2026
According to official company announcements on Friday, Bitfarms is selling the site to the Sympatheia Power Fund (SPF), managed by Hawksburn Capital, for a total consideration of up to $30 million. The structured deal includes an upfront payment of $9 million, with an additional $21 million tied to milestones over the next 10 months. The transaction is expected to close within 60 days.
CEO Ben Gagnon highlighted that this sale "brings forward" years of anticipated cash flow. They aren't just sitting on this cash. The company plans to plow these funds back into its North American HPC and AI energy projects in 2026. The goal is clear: capture stronger returns on capital by pivoting from the volatile mining sector to the booming AI data center market.
Market Impact and Investor Sentiment
Investors cheered the news, pushing BITF shares up by roughly 4% to $2.45 in pre-market trading. This rally occurred as Bitcoin itself flirted with the $90,000 mark. The market's positive reaction suggests confidence in Bitfarms' strategy to trade its emerging market exposure for high-demand tech infrastructure in more stable jurisdictions.
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