- Bitfarms sold a Paraguay mining site for $30M and will exit Latin America.
- The company plans to reinvest proceeds into AI and HPC infrastructure in North America.
Bitfarms is closing a chapter that once defined its global expansion, using a $30 million asset sale to accelerate a broader transformation. The Bitcoin miner said it will fully exit Latin America after agreeing to sell a large facility in Paraguay, a move that sharpens its focus on North America and signals a deeper push into artificial intelligence infrastructure.
The company confirmed it has reached a deal with the Sympatheia Power Fund to sell its 70-megawatt facility in Paso Pe, Paraguay. The transaction involves the sale of shares in a Bitfarms subsidiary that owns the site rather than a direct asset transfer.
Bitfarms expects to receive $9 million in cash in the first quarter of 2026, followed by $21 million paid over the subsequent ten months. Once the transaction closes, the company will no longer operate any facilities in Latin America.
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Capital Redirected Toward AI And HPC
Bitfarms plans to channel the proceeds into artificial intelligence and high-performance computing infrastructure during 2026. The company reportedly has 430 megawatts of capacity under development in the United States and outlined a multi-year plan that targets 2.1 gigawatts across North America.
The Paraguay sale follows a shift announced in November, when Bitfarms said it would gradually move away from pure Bitcoin mining toward powering AI workloads. The transition will start with the conversion of an 18-megawatt facility in Washington state.
Bitfarms is not alone in rethinking the economics of crypto mining. Several operators have moved toward AI and HPC, seeking steadier revenues tied to long-term compute demand.
Some investors see Bitfarms’ pivot in a similar light. This week, investment bank Keefe, Bruyette & Woods upgraded the company’s stock rating to “outperform” and raised its price target to $24. The bank cited a “leasing mix shift” away from Bitcoin mining and toward high-performance computing as a key driver behind the upgrade.
With its Latin American exit now underway, Bitfarms is betting that a leaner geographic footprint and a sharper focus on AI infrastructure will better position it for the next phase of growth.