Mining Company Major Shift: Bitfarms Sells $30 Million Paraguayan Mine, Fully Bets on North American AI Energy Infrastructure

【BlockBeats】According to reports, Bitcoin mining company Bitfarms Ltd. recently completed a significant asset transaction—selling its 70MW Paso Pe mining farm in Paraguay to Singapore-based fund Sympatheia Power Fund for up to $30 million. The completion of this deal marks the company’s official exit from the Latin American market.

How will they get the money? According to the transaction details, Bitfarms will receive an initial $9 million in cash at closing (with $1 million already paid as a deposit), and the remaining up to $21 million will be paid gradually based on milestone conditions over the next 10 months. The management team stated that this income effectively represents an early realization of the expected free cash flow from the mine over the next 2-3 years.

Why sell? The key reason is strategic shift. Bitfarms CEO Ben Gagnon explicitly pointed out that the proceeds from the sale will be reallocated starting in 2026 to high-performance computing and AI energy infrastructure in North America. In other words, the company is shifting its focus from geographically dispersed Bitcoin mining operations to AI and high-performance computing sectors.

How big is the transformation? Just look at their current energy asset layout—341MW of operational capacity in North America, 430MW under construction in the U.S., plus approximately 2.1GW of multi-year project reserves. The entire portfolio is now fully concentrated in North America. This increased focus reflects the mining company’s strong optimism about the growing demand for energy-intensive data centers. Since mid-term, Bitfarms has been signaling that the returns on these new energy assets are more promising, and has subsequently launched plans to convert mining farms into AI infrastructure.

Behind this move, it actually reflects a deeper change happening across the mining industry—pure Bitcoin mining is no longer the only path forward. The integration of energy assets with AI computing is becoming the new mainstream direction.