Bitfarms Ltd. completed the sale of its 70‑megawatt Bitcoin mining facility in Paso Pe, Paraguay, to Sympatheia Power Fund for up to $30 million, with the transaction expected to close within 60 days of the announcement. The deal marks the company’s final exit from Latin America, leaving its power portfolio entirely in North America.
The sale is part of Bitfarms’ broader pivot from a pure cryptocurrency miner to a North American energy and data‑center company focused on high‑performance computing and AI workloads. By divesting a 200‑megawatt asset that offered no viable HPC conversion path, Bitfarms frees capital that will be reinvested in its North American high‑performance computing buildout, positioning the firm to capture higher revenue intensity from AI workloads and strengthen its free‑cash‑flow base.
Prior financial performance underscores the strategic urgency of the divestiture. In Q3 2025 Bitfarms reported revenue of $69 million and a net loss of $46 million, while in Q4 2024 revenue was $56 million with a net income of $15 million. Gross mining margins fell from 57% in Q4 2023 to 47% in Q4 2024 and further to 35% in Q3 2025, reflecting mounting cost pressures and a declining Bitcoin price. The proceeds from the Paso Pe sale will help offset margin compression and fund the capital‑intensive HPC/AI transition.
CEO Ben Gagnon emphasized that the transaction brings forward two to three years of free cash flow, enabling Bitfarms to generate stronger returns on invested capital in its new HPC/AI focus. He described the sale as the culmination of a series of transactions that have fully exited Latin America and refocused the company’s management, capital, and operations on North American power and infrastructure for AI.
Investors welcomed the announcement, noting that the sale completes a strategic exit from a volatile market and aligns with industry trends of miners repurposing energy assets for AI workloads. The move is expected to improve liquidity, reduce exposure to cryptocurrency price swings, and position Bitfarms for higher‑margin, data‑center revenue streams in the coming years.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.