- Bitfarms sold its 70 MW Paraguay facility to Sympatheia Power Fund for $30 million.
- The company will receive $9M in early 2026 and $21M over 10 months.
- Bitfarms is now fully focused on North American operations and infrastructure.
- Bitfarms plans to reinvest funds into AI and HPC infrastructure development.
Bitfarms has formally exited Latin America following the sale of its 70-megawatt facility in Paso Pe, Paraguay. The cryptocurrency mining firm sold the site to Sympatheia Power Fund in a deal valued at $30 million.
$BITF announces a complete exit from LatAm (70 MW) with the sale of its Paraguay Paso Pe site for up to $30M to Singapore-based Hawksburn Capital.
Proceeds will help fund the ~$128M capex required to convert BITF's Washington facility from mining to AI/HPC infrastructure. pic.twitter.com/zmXBUNbmZ0
— matthew sigel, recovering CFA (@matthew_sigel) January 2, 2026
The company announced that it will receive $9 million in cash during the first quarter of 2026. The remaining $21 million will be paid over the following ten months. Sympatheia Power Fund will acquire shares in the Bitfarms subsidiary that owns the facility assets.
Focus Shifts to North America
With this transaction, Bitfarms’ CEO Ben Gagnon confirmed that the company’s energy operations are now “100% North American.” The exit from Latin America aligns with the firm’s strategy to develop a more consolidated and localized operational base.
Bitfarms plans to reinvest proceeds from the sale into artificial intelligence and high-performance computing infrastructure. It currently has 430 megawatts of capacity under development in the United States. The firm also has a long-term goal of expanding to 2.1 gigawatts of power capacity in North America.
Strategic Transition Toward AI and HPC
Bitfarms had previously announced in November 2025 that it would gradually move away from Bitcoin mining. The company aims to support the growing demand for AI computing and HPC infrastructure.
As part of this transition, Bitfarms started converting an 18 MW facility in Washington state. This is the first step in what the company described as a multi-year transformation plan.
Other mining firms are also following this direction. For instance, TeraWulf signed agreements with Fluidstack in 2025 worth $6.7 billion. These include expanding facilities in New York valued at $3.2 billion.
Market Reaction and Analyst Upgrades
Following the announcement of its exit from Latin America and strategic shift, Bitfarms’ stock (BITF) dropped by 18%. Over the past 30 days, its stock price has declined approximately 20%.
Despite the short-term fall in stock value, some financial institutions have responded positively to the company’s new direction. Investment bank Keefe, Bruyette & Woods upgraded Bitfarms’ stock rating to “outperform” and increased its price target to $24. The bank cited Bitfarms’ move from Bitcoin mining to AI and HPC leasing as part of its reasoning.
Bitfarms stated that the deal with Sympatheia Power Fund will help it speed up its infrastructure development in the AI and data sectors. The company intends to allocate the incoming funds directly into these areas throughout 2026.
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