- Bitcoin miner Bitfarms has entered into a deal to sell its last Bitcoin mining site in Paraguay.
- The $30 million transaction will see the firm leave Latin America.
- Bitfarms will mostly focus on the high-performance computing industry now.
Publicly traded Bitcoin miner Bitfarms has announced its exit from Latin America via the sale of its site in Paraguay, with the Canadian company pivoting to focus entirely on high-performance computing.
The Toronto-based firm said Friday that it had entered into a definitive share purchase agreement to sell its 70 MW site in Paso Pe, Paraguay to crypto infrastructure company Sympatheia Power Fund, managed by Singapore-based Hawksburn Capital, for up to $30 million.
Bitfarms will now turn to providing resources to artificial intelligence and high-powered computing using North American energy, the firm’s CEO said.
“The sale of Paso Pe is the culmination of a series of transactions to completely exit Latam, and refocus the company, its management team and capital on 100% North American power and infrastructure for HPC/AI,” Bitfarms CEO Ben Gagnon said in a statement.
The company said it will receive $9 million upfront and up to $21 million over the subsequent 10 months based on certain payment milestones. The deal is expected to close within 60 days, Bitfarms added.
DL News reached out to Bitfarms for comment.
Toronto Stock Exchange-listed Bitfarms shares (BITF) closed Friday over 10% higher following the news.
Bitfarms in 2025 said that it was focusing more on the high-performance computing industry, after posting a $46 million loss in the third quarter of last year.
It sold its other site in Paraguay to HIVE Digital last year and shuttered its site in Argentina.
The firm is the latest miner to turn its attention to the high-performance computing industry as the cutthroat world of minting digital coins gets tougher following a Bitcoin price slump and rising difficulty on the world’s largest crypto network.
Bitcoin miners struggled to make ends meet in 2025, with many now using their data centers to power the energy-hungry AI industry in order to make a profit as a result. Both industries require huge amounts of electricity and companies are able to use their existing infrastructure to cater to the demand for high-performance computing.
A number of miners are now marketing themselves as “compute” or “digital infrastructure” companies while switching between minting digital coins and providing compute for AI.
But experts have warned that while high-performance computing is an attractive option for some companies, it isn’t always easy to make the move: AI data centres require more expertise than Bitcoin mining operations.
Mathew Di Salvo is a news correspondent with DL News. Got a tip? Email at mdisalvo@dlnews.com.
