Bitcoin mining company Bitfarms has confirmed it will fully exit the Latin American market after agreeing to sell its Paraguayan operations in a transaction valued at $30 million.
The deal involves Bitfarms’ 70 megawatt facility located in Paso Pe, Paraguay, which represents the company’s final remaining asset in the region.
In a statement released on Friday, Bitfarms said it had reached an agreement with the Sympatheia Power Fund to transfer ownership of the site through a subsidiary-level transaction.
Rather than selling the physical assets outright, the agreement will see the power company acquire shares in the Bitfarms subsidiary that holds the Paraguayan facility.
Under the financial terms of the deal, Bitfarms will receive $9 million in cash during the first quarter of 2026.
The remaining $21 million will be paid in installments over the following 10 months, providing the company with staggered capital inflows.
Bitfarms chief executive Ben Gagnon said the sale marks a turning point in the company’s geographic and operational focus.
According to Gagnon, the completion of the transaction will make Bitfarms’ energy operations “100% North American.”
He added that proceeds from the sale will be reinvested into artificial intelligence and high performance computing infrastructure during the current year.
North America becomes the center of future growth
Bitfarms said it currently has 430 megawatts of power capacity under active development across several locations in the United States.
In addition to near-term projects, the company outlined a longer-term strategy that includes 2.1 gigawatts of planned capacity as part of a multi-year North American expansion.
Management described the region as offering greater regulatory clarity and infrastructure reliability compared with other global markets.
The decision to exit Latin America follows a broader reassessment of where the company can deploy capital most effectively.
Bitfarms indicated that shifting geopolitical and energy market conditions also played a role in the move.
Strategic pivot away from pure Bitcoin mining
The Latin American exit follows Bitfarms announcing in November that it intends to gradually reduce its exposure to Bitcoin mining.
Over the next two years, the company plans to redirect a growing share of its power resources toward AI and high performance computing workloads.
The transition began with the planned conversion of an 18 megawatt facility in Washington state.
That announcement triggered a sharp negative reaction in the market.
Bitfarms shares fell 18% immediately following the disclosure.
The stock has declined by roughly 20% over the past 30 days, reflecting continued investor uncertainty around the transition.
Analysts highlight broader industry trend
Despite recent share price weakness, Bitfarms is not alone in rethinking its long-term strategy.
Several publicly listed mining companies have announced similar plans to diversify into AI-related infrastructure.
In 2025, TeraWulf secured three major lease agreements totaling $6.7 billion with AI infrastructure provider Fluidstack.
The company also committed to expanding a New York facility under a separate $3.2 billion agreement.
Investment bank Keefe, Bruyette & Woods cited this industry-wide “leasing mix shift” in its latest assessment.
The bank upgraded Bitfarms’ stock rating to “outperform” and raised its price target to $24, citing long-term potential from HPC exposure.
