Bitcoin miner Bitfarms exits Latin America with $30m sale to focus on AI

Group 1 - Bitfarms has announced its exit from Latin America by selling its 70 MW site in Paraguay for up to $30 million to Sympatheia Power Fund [1][3] - The company will now focus on high-performance computing (HPC) and artificial intelligence (AI) using North American energy [2][3] - The sale includes an upfront payment of $9 million and up to $21 million based on payment milestones over the next 10 months, with the deal expected to close within 60 days [3] Group 2 - Bitfarms previously sold another site in Paraguay and closed its site in Argentina, indicating a complete exit from the Latin American market [4] - The shift towards high-performance computing is a trend among Bitcoin miners as the industry faces challenges due to a slump in Bitcoin prices and increased mining difficulty [4][5] - Many miners are transitioning to provide digital infrastructure for AI, leveraging their existing data centers to meet the energy demands of both industries [5]