Bitfarms Completes Strategic Sale of its Yguazu, Paraguay Data Center

Core Insights - Bitfarms Ltd. has successfully completed the sale of its 200 MW data center in Yguazu, Paraguay to HIVE Digital Technologies for approximately U.S. $85 million, marking a strategic shift towards North American operations [2][3]. Group 1: Transaction Details - The transaction is valued at approximately U.S.$85 million, which is expected to be accretive for Bitfarms [1][3]. - The sale allows Bitfarms to streamline operations and rebalance its portfolio, with an anticipated year-end 2025 energy portfolio of approximately 80% North American and 20% international [3]. Group 2: Financial Implications - The sale is expected to significantly reduce Bitfarms' capital expenditure (capex) requirements for 2025 and lower average power costs by 10% [3]. - The company plans to reinvest the savings and capital from this sale into its 1.1 GW U.S. growth pipeline for Bitcoin mining and high-performance computing (HPC)/artificial intelligence (AI) infrastructure [3]. Group 3: Company Overview - Bitfarms is a global Bitcoin and vertically integrated data center company, founded in 2017, that operates 15 Bitcoin data centers across the United States, Canada, Paraguay, and Argentina [4][5]. - The company focuses on sustainable energy sources, primarily hydroelectric power, to support its mining operations [5].