Bitfarms exits Latin America after $30M Paraguay sale, pivots to AI/HPC
Bitfarms has completed its exit from Latin America by selling its 70 MW Paso Pe Bitcoin-mining facility in Paraguay to Sympatheia Power Fund (managed by Hawksburn Capital) for up to $30 million. The deal transfers the shares of the Bitfarms subsidiary that holds the assets and delivers $9 million in cash at closing (expected Q1 2026) with up to $21 million in milestone payments over the following 10 months. Management says the sale makes the company’s energy operations “100% North American” and will free proceeds to reinvest in AI and high-performance computing (HPC) infrastructure. This follows an earlier January 2025 sale of a 200 MW Paraguayan site and a strategic pivot announced by Bitfarms away from legacy Bitcoin mining toward powering AI workloads, including conversion of an 18 MW Washington state site. The company reports 430 MW under development in the U.S. and a multi-year North American target of 2.1 GW. Market reaction has been mixed: BITF stock fell after the strategy pivot but showed intraday movement (earlier reports noted both ~4% pre-market rise and prior ~18% declines tied to the pivot). Analysts at Keefe, Bruyette & Woods upgraded Bitfarms to “outperform,” citing a leasing shift toward HPC and raising their price target, while industry peers such as TeraWulf are also pursuing large AI/HPC lease deals. For crypto traders: the sale narrows Bitfarms’ geographic footprint, reduces exposure to Latin American operational risk, and signals a capital redeployment into higher-margin AI/HPC hosting — factors that may change the company’s revenue mix and investor sentiment around BITF. Primary keywords: Bitfarms, Paraguay sale, 70 MW, $30M, AI infrastructure, HPC, North America, BTC mining shift, BITF.
Neutral
The news is neutral for BTC price action specifically. The sale is a corporate restructuring and geographic exit by Bitfarms, not a direct change to Bitcoin supply or network fundamentals. Traders may interpret the deal two ways: as positive for Bitfarms’ long-term business model (reinvesting proceeds into higher-margin AI/HPC services) which supports the company’s equity and reduces operational risk, or as negative near-term for BITF equity due to strategy uncertainty and past stock volatility after the pivot announcement. For BTC traders, the transaction does not materially affect mining hash rate or BTC issuance — the 70 MW facility is modest relative to global hash rate. Short-term impacts may include speculative moves in BITF equity and sector peers as investors reprice mining companies pivoting to AI/HPC. Long-term, if miners widely reallocate capital away from bitcoin mining to AI/HPC, that could slightly reduce future incremental mining capacity growth, but any measurable effect on BTC price or network security is unlikely given current global hash rate scale. Overall, expect limited direct move in BTC price, moderate effects on miner equities and investor sentiment.