Bitcoin mining company Bitfarms Ltd. (Nasdaq: BITF) has finalized its withdrawal from Latin America by divesting its last remaining asset in the region, a 70-megawatt facility in Paso Pe, Paraguay. The sale, valued at up to $30 million, underscores the firm’s deliberate pivot toward high-performance computing (HPC) and artificial intelligence infrastructure in North America, where it sees greater long-term profitability amid evolving industry dynamics.
Announced on January 2, 2026, the transaction involves transferring the site’s operating subsidiary to Sympatheia Power Fund (SPF), a cryptocurrency-focused infrastructure fund overseen by Singapore-based Hawksburn Capital.
The deal structure provides Bitfarms with immediate liquidity: $9 million in cash upon closing—anticipated in the first quarter of 2026, including a $1 million non-refundable deposit already received—plus potential additional payments of up to $21 million over the subsequent 10 months, contingent on operational milestones.
This arrangement effectively accelerates two to three years of projected cash flows from the Paraguayan operation, allowing Bitfarms to redirect capital sooner than expected.
CEO Ben Gagnon emphasized the strategic rationale, noting that the funds will fuel investments in North American energy and data center projects tailored for HPC and AI starting in 2026.
“We anticipate significantly higher returns on capital in these areas compared to traditional mining,” he stated, highlighting the shift as the culmination of a phased regional wind-down.
The divestment follows Bitfarms’ earlier sale of a larger Paraguayan site in 2025, marking a clean break from Latin America.
Post-transaction, the company’s entire power portfolio is now centered in North America, boasting 341 megawatts of operational capacity, 430 megawatts in active US development, and a multi-year pipeline totaling approximately 2.1 gigawatts—predominantly in the United States.
This realignment aligns with broader trends in the cryptocurrency mining sector, where firms are increasingly repurposing energy-intensive facilities for AI workloads amid rising demand for compute power.
Bitfarms has already outlined plans to convert select sites, including an 18-megawatt facility in Washington State targeted for completion by late 2026, to support advanced technologies like Nvidia‘s next-generation GPUs with liquid cooling.
The buyer, Sympatheia Power Fund, has committed to ensuring seamless operations at Paso Pe, prioritizing continuity for ongoing activities.
For Bitfarms, the move enhances financial flexibility while concentrating resources on domestic opportunities in data center hotspots with reliable power and connectivity.
Market reaction was positive, with shares gaining in early trading, reflecting investor support for the company’s transformation into a diversified digital infrastructure provider.
As AI adoption accelerates in 2026, Bitfarms positions itself to capitalize on this high-growth segment, potentially yielding more stable revenue streams beyond volatile Bitcoin mining.