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News  ›  GlobeNewswire Inc.

Bitfarms Announces Complete Exit from Latam with Sale of its Paso Pe Site for up to $30M

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Na
Bitfarms Announces Complete Exit from Latam with Sale of its Paso Pe Site for up to $30M

Bitfarms Ltd. announced the sale of its 70 MW Paso Pe, Paraguay bitcoin mining site to Sympatheia Power Fund for up to $30 million, completing its exit from Latin America. The company will reinvest proceeds into North American HPC/AI infrastructure, rebalancing its portfolio to 100% North American operations with 341 MW energized capacity and 2.1 GW total pipeline.

Insights
BMLpG   neutral

Mentioned as a previous employer of the new board member, with no specific positive or negative context


BITF   positive

The company is strategically exiting underperforming Latin American operations and consolidating to North America where management believes it can generate stronger returns. The sale accelerates cash flow realization (2-3 years forward) and enables reinvestment in higher-margin HPC/AI infrastructure, which represents a positive strategic pivot and improved capital allocation.