- Bitfarms completes Latin America exit and focuses all energy operations in North America.
- Proceeds from Paraguay sale will fund AI and high performance computing infrastructure.
- The company now has 341 MW active capacity and 430 MW under development in the US.
Bitcoin mining company Bitfarms has completed its exit from Latin America following the sale of its 70 MW facility in Paso Pe, Paraguay. The Paraguayan site was sold to Sympatheia Power Fund, a crypto infrastructure firm backed by Singapore-based Hawksburn Capital. The deal involves cash of up to $9 million in the first quarter of 2026 and as much as $21 million during the next ten months according to milestone payments. Bitfarms has received $1 million as a non-refundable deposit.
The sale completes a larger plan of streamlining operations and operating solely in North America. Bitfarms now holds a 100% North American energy portfolio. CEO Ben Gagnon confirmed that the company plans to reinvest the proceeds into artificial intelligence (AI) and high-performance computing (HPC) infrastructure. The Latin American exit also simplifies management and removes geographic complexity from operations.
Strategic Shift to AI and HPC
Bitfarms announced a gradual transition from Bitcoin mining to AI-focused energy operations. This includes converting an 18 MW facility in Washington state to power AI infrastructure. The company is actively developing 430 MW of capacity in the United States and maintains a 2.1-gigawatt multi-year development plan across North America. The shift aligns with growing industry trends of integrating AI and HPC capabilities within crypto infrastructure. Last year, Riot Platforms added AI experts to its board so as to explore HPC opportunities.
The move also accelerates expected cash flows. By selling the Paso Pe facility, Bitfarms gains liquidity that would have taken two to three years to materialize under previous operations. The funds will directly support expansion into AI and HPC, aiming for higher long-term capital returns.
Financial and Market Implications
Bitfarms’ stock (BITF) declined 18% following the announcement, continuing a 30-day trend of roughly 20% losses. Analysts attribute the drop to the strategic transition and regional exit. However, investment bank Keefe, Bruyette & Woods upgraded Bitfarms’ stock to “outperform,” raising the price target to $24. The upgrade reflects confidence in the company’s pivot to AI and HPC infrastructure.
The Latin American exit also consolidates Bitfarms’ energy operations. The company has potential to consolidate its presence in North America with 341 MW of energized capacity and 430 MW of development capacity underway in the U.S. The pipeline of 2.1-gigawatt is more oriented in the United States where nearly 90% of it is situated, which also underlines the domestic orientation.
Broader Industry Context
Bitfarms is among several crypto miners realigning toward AI and HPC. TeraWulf, for example, secured three lease agreements with AI provider Fluidstack in 2025, totaling $6.7 billion. It also sold its 25% stake in Nautilus Bitcoin mine for $92M, reinvesting in an AI and HPC facility at Lake Mariner. Bitfarms’ acquisition of Stronghold Digital Mining for $164 million in 2024 expanded its U.S. energy capacity, setting the stage for further AI integration.
The sale of the Paso Pe site represents the final step in a series of strategic moves. By exiting Latin America, Bitfarms removes operational distractions and channels resources into AI and HPC infrastructure. The company is now fully positioned to grow its North American energy operations.
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