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

Core Viewpoint - Bitfarms Ltd. is strategically selling its 70 MW site in Paraguay to focus entirely on North American energy and digital infrastructure, particularly in high-performance computing (HPC) and artificial intelligence (AI) sectors [1][2]. Transaction Details - The sale involves a definitive share purchase agreement with the Sympatheia Power Fund, valuing the operating site at up to $30 million [3][6]. - Bitfarms will receive $9 million in cash upon closing, including a $1 million non-refundable deposit, and up to $21 million over the following 10 months based on payment milestones [6]. Strategic Rebalancing - The transaction allows Bitfarms to rebalance its energy assets portfolio to 100% North American, enhancing its liquidity profile and accelerating the monetization of operations [6]. - The updated energy portfolio includes 341 MW of energized capacity, 430 MW under active development, and a total multi-year pipeline of 2.1 GW in North America, with approximately 90% based in the U.S. [6]. Company Overview - Bitfarms is a North American energy and digital infrastructure company that operates state-of-the-art data centers and energy infrastructure for Bitcoin mining and HPC/AI [4][5]. - The company was founded in 2017 and is headquartered in New York and Toronto, trading on both the Nasdaq and Toronto Stock Exchange [5].