Key Takeaways
- Sympatheia will deliver $9 million at closing, anticipated during the first quarter of 2026, including a $1 million non-refundable deposit.
- The company previously sold its Yguazú mining site to Hive Digital for $85 million
Bitfarms has agreed to divest its Paso Pe mining facility in Paraguay for up to $30 million, marking the company’s complete withdrawal from Latin American operations as it redirects capital toward artificial intelligence(AI) infrastructure development in North America. This comes against the backdrop of Bitfarms’ plans to transition from Bitcoin mining to AI infrastructure hosting.
The Canadian crypto mining company disclosed the transaction Thursday, naming Sympatheia Power Fund, a leading digital asset infrastructure fund managed by Singapore-based Hawksburn Capital, as the acquiring party. The deal transfers ownership of a 70-megawatt facility that has formed part of Bitfarms’ international mining portfolio.
Financial terms structure the payment across multiple phases. Sympatheia will deliver $9 million at closing, anticipated during the first quarter of 2026, including a $1 million non-refundable deposit. An additional $21 million will follow through milestone-based installments distributed over ten months post-closing, creating a performance-linked payment schedule rather than immediate full consideration.
The transaction eliminates Bitfarms’ remaining Latin American presence following last year’s departure from another Paraguayan facility. The company previously sold its Yguazú mining site to Hive Digital for $85 million. Both exits concentrate the company’s energy portfolio exclusively within North American markets.
Commenting on the sale, CEO Ben Gagnon said, “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,” he stated, emphasising expectations for superior returns on capital deployed toward high-performance computing and AI workloads compared to crypto mining.
The capital redeployment targets specific facilities within Bitfarms’ portfolio. Under its future expansion plans, the mining firm will focus on its Panther Creek and Scrubgrass sites in Pennsylvania, both coal-fired power plants acquired through the March 2024 purchase of Stronghold Digital. Those facilities came with existing data center infrastructure that Bitfarms reportedly views as suitable for AI computing applications.
This divestiture advances a broader pivot announced in November when Bitfarms revealed plans to transition from Bitcoin mining to AI infrastructure hosting over a two-year timeline. The company initiated this shift by converting an 18-megawatt Washington state facility to serve AI workloads.
Bitfarms currently reports 430 megawatts of capacity under development across United States locations, with long-term ambitions extending to 2.1 gigawatts of North American energy infrastructure through a multi-year expansion program.
The strategic reorientation reflects broader industry trends as crypto miners seek diversification. This comes in the wake of mining economics deteriorating following Bitcoin’s April 2024 halving event, which reduced block rewards and compressed profit margins for operators. Simultaneously, AI companies face severe constraints securing power and data center capacity for training increasingly large language models and neural networks.
Meanwhile, TeraWulf, another leading mining company, signed three lease agreements valued at $6.7 billion with AI infrastructure provider Fluidstack in 2025, committing substantial capacity toward high-performance computing rather than cryptocurrency production. A separate $3.2 billion arrangement involved expanding a New York facility specifically for AI workloads.