TLDR

  • Bitfarms has sold its Paraguay site for a maximum of $30 million to refocus on North American AI infrastructure.

  • The company will get $9 million upfront and up to $21 million depending on post-closing milestones.

  • Bitfarms intends to phase out Bitcoin mining by 2027 as AI projects become a priority.

  • The firm’s U.S. project pipeline features more than 2.1 gigawatts of energy capacity for AI and HPC applications.

Bitfarms Ltd. has finalized an agreement to sell its 70-megawatt facility in Paso Pe, Paraguay, to Sympatheia Power Fund. The deal is worth up to $30 million and marks the company’s full departure from Latin American operations.

Sympatheia, the buyer, is a crypto infrastructure fund overseen by Singapore-based Hawksburn Capital. Bitfarms will get $9 million in cash at closing—scheduled for the first quarter of 2026—and could receive an extra $21 million over the subsequent 10 months based on mutually agreed post-closing targets.

CEO Ben Gagnon said the sale accelerates approximately two to three years of projected free cash flow. The proceeds will be reinvested into energy infrastructure projects that support AI and HPC in North America.

Bitfarms Shift to North American AI and HPC Operations

Bitfarms is realigning its operations to focus on high-performance computing and artificial intelligence workloads. Following the completion of the Paraguay sale, all of the company’s energy assets and development projects are now based in North America.

Presently, Bitfarms has 341 megawatts of active capacity and 430 megawatts in development in the U.S. Its long-term project pipeline includes roughly 2.1 gigawatts of energy capacity targeted at data center infrastructure.

The company’s leadership said the transition mirrors increasing demand for AI-ready, energy-dense infrastructure and declining profitability in traditional [areas]. The shift aligns with a wider trend of crypto miners adjusting to new market needs.

Bitcoin Mining Wind-Down by 2027

Bitfarms [plans] to slowly exit Bitcoin mining operations by 2027. The first step will be converting its 18-megawatt site in Washington State, which is set to be repurposed for Nvidia’s upcoming GB300 GPU-based systems.

CEO Ben Gagnon previously disclosed that Bitfarms’ future growth would center on building liquid-cooled GPU infrastructure. The company aims to support AI and cloud computing workloads, particularly when Nvidia’s Vera Rubin chips are released in late 2026.

A $588 million financing round closed in 2025 supports the transition. These funds will fund asset conversions and energy infrastructure development in the U.S.

Industry-Wide Trend Toward AI Infrastructure

Bitfarms isn’t the only one making this strategic shift. Other crypto mining firms like [blank], Iren, Hive Digital, and Terawulf have also announced entries into AI and HPC markets.

Rising electricity costs and lower Bitcoin mining returns are fueling these changes. Companies are looking for more sustainable and profitable models that match evolving technological requirements.

Bitfarms saw a 4% premarket trading increase after the announcement. The company’s shares were most recently trading around $2.60, down from a $6.50 peak in October 2025.

The firm’s full exit from Latin America concludes a phase of its global operations as it gets ready for a new role in the AI and HPC sector.