Bitcoin miner Bitfarms exiting Latin America with $30M sale of Paraguay site

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin miner Bitfarms exiting Latin America with $30M sale of Paraguay site The company is selling the site to the Sympatheia Power Fund, managed by Singapore-based Hawksburn Capital. By Jamie Crawley | Edited by Stephen Alpher Jan 2, 2026, 1:24 p.m. Bitcoin miner Bitfarms is set to exit Latin America with the sale of its site in Paso Pe, Paraguay. (Shutterstock, modified by CoinDesk) What to know : Bitcoin miner Bitfarms is set to exit Latin America with the sale of its site in Paso Pe, Paraguay. Bitfarms will receive $9 million upfront and up to $21 million over the subsequent 10 months based on certain payment milestones. The deal follows Bitfarms' sale of a site in Yguazú, Paraguay to bitcoin mining company Hive Digital Technologies just under a year ago. Bitcoin miner Bitfarms (BITF) is set to exit Latin America with the sale of its site in Paso Pe, Paraguay. The company is selling the site to the Sympatheia Power Fund (SPF), managed by Singapore-based Hawksburn Capital, for up to $30 million, the company announced on Friday . STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . The transaction, which is subject to customary closing conditions, is expected to close within the next 60 days, Bitfarms said. Bitfarms will receive $9 million upfront and up to $21 million over the subsequent 10 months based on certain payment milestones. "This transaction brings forward an estimated two to three years of anticipated free cash flows from operations to be reinvested into our North American HPC/AI energy infrastructure in 2026, where we believe we will be able to generate much stronger returns on our invested capital with HPC/AI," Bitfarms CEO Ben Gagnon said. The deal follows Bitfarms' sale of a site in Yguazú, Paraguay to bitcoin mining company Hive Digital Technologies (HIVE) just under a year ago. BITF shares were up around 4% at $2.45 in pre-market trading , coinciding with a lift in BTC's price to just under $90,000 . Bitcoin Mining Bitfarms Paraguay Latin American More For You KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market By CoinDesk Research Dec 22, 2025 Commissioned by KuCoin KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market. 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