Bitfarms has announced a full withdrawal from Latin America after agreeing to sell its Paraguayan energy facility for 30 million dollars. The move marks a major strategic shift for the Bitcoin mining firm, which is now focusing entirely on North America while accelerating its transition toward artificial intelligence and high performance computing infrastructure. The decision reflects wider changes across the crypto mining sector, where companies are increasingly seeking stability and long term revenue through data driven and computing focused operations.
Sale of Paraguayan Facility Signals Strategic Exit
The company confirmed that it has reached an agreement with the Sympatheia Power Fund to sell its 70 megawatt energy facility located in Paso Pe, Paraguay. This site represented Bitfarms’ final operational footprint in the Latin American region. Under the terms of the deal, Sympatheia will acquire shares in the Bitfarms subsidiary that owns the assets tied to the facility.
The total consideration for the transaction is set at 30 million dollars. Of this amount, Bitfarms will receive 9 million dollars in cash during the first quarter of 2026. The remaining 21 million dollars will be paid over the following ten months, providing the company with a steady inflow of capital well into the next financial year.
By structuring the transaction in this manner, Bitfarms aims to maintain liquidity while supporting its longer term investment plans. The company has indicated that proceeds from the sale will be redirected toward expanding its computing focused infrastructure across North America, particularly in areas aligned with artificial intelligence workloads.
Operations to Become Fully North American
Following the completion of the Paraguayan sale, Bitfarms’ energy operations will be entirely concentrated in North America. Chief executive officer Ben Gagnon described the move as a decisive step toward simplifying the company’s geographic footprint while aligning operations with regions offering clearer regulatory frameworks and stronger demand for advanced computing services.
According to company disclosures, Bitfarms currently has 430 megawatts of capacity under development within the United States. In addition to these near term projects, the firm has outlined a multi year development plan targeting 2.1 gigawatts of capacity across North America. These facilities are expected to support both Bitcoin mining and high performance computing use cases, with an increasing emphasis on the latter.
Management believes that focusing on North America will allow for more efficient capital deployment and closer integration with clients seeking large scale computing solutions. Energy availability, grid stability and proximity to major technology markets have all been cited as reasons behind the regional consolidation.
Shift From Bitcoin Mining Toward AI and HPC
The exit from Latin America follows an earlier announcement made in November, when Bitfarms revealed plans to gradually reduce its reliance on Bitcoin mining in favour of powering artificial intelligence and high performance computing applications. The company stated that this transition would take place over the next two years, beginning with the conversion of an 18 megawatt facility in Washington state.
This strategic pivot reflects growing competition in Bitcoin mining, coupled with rising operational costs and increasing pressure from market volatility. By contrast, demand for computing power driven by artificial intelligence development has surged, offering more predictable revenue streams through long term contracts and leasing arrangements.
While the announcement signalled a forward looking approach, it was not immediately welcomed by investors. Bitfarms’ share price fell by approximately 18 percent following the November disclosure. Over the past 30 days, the stock has declined by around 20 percent, highlighting ongoing uncertainty among shareholders regarding the pace and execution of the transition.
Despite the market reaction, company leadership has remained firm in its conviction that diversification into computing infrastructure is essential for sustainable growth. Executives argue that maintaining flexibility between mining and computing workloads will position Bitfarms to respond effectively to future shifts in both the crypto and technology sectors.
Market Reaction and Investor Sentiment
The sale of the Paraguayan facility has drawn mixed responses from analysts and investors. On one hand, the transaction provides Bitfarms with fresh capital and removes exposure to a region that may present operational and regulatory complexities. On the other hand, the delayed payment structure means that a significant portion of the funds will only be realised over time, which may limit immediate balance sheet improvements.
The broader decline in Bitfarms’ share price over recent weeks suggests that investors are still weighing the risks associated with the company’s strategic overhaul. Concerns include execution risk, capital expenditure requirements and the competitive landscape within the artificial intelligence infrastructure market.
However, some market participants view the exit from Latin America as a prudent move that allows management to focus resources on higher value opportunities. Concentrating development efforts within a single region may also reduce administrative overheads and improve operational oversight.
Investment Bank Upgrades Outlook on Strategic Shift
Not all market reactions have been negative. US investment bank Keefe Bruyette and Woods has expressed confidence in Bitfarms’ evolving business model. Citing the company’s changing leasing mix from Bitcoin mining toward high performance computing, the bank upgraded its assessment of the stock to outperform.
Alongside the upgrade, the firm raised its share price target to 24 dollars, suggesting that current valuations may not fully reflect the long term potential of the computing focused strategy. Analysts pointed to the growing demand for data centre capacity driven by artificial intelligence workloads as a key factor underpinning their optimism.
The bank’s assessment highlights the possibility that Bitfarms could benefit from long term leasing agreements similar to those secured by other players in the sector. Stable contracts with technology firms could help offset the volatility traditionally associated with crypto mining revenues.
Industry Trend Toward Computing Infrastructure
Bitfarms is not alone in rethinking its approach. Across the crypto mining industry, several companies have begun shifting resources toward artificial intelligence and high performance computing. These moves reflect a broader recognition that energy intensive infrastructure can be repurposed to serve multiple high value markets.
In 2025, TeraWulf secured three major lease agreements valued at 6.7 billion dollars with artificial intelligence infrastructure provider Fluidstack. The company also announced plans to expand one of its New York facilities as part of a separate 3.2 billion dollar deal. Such agreements underscore the scale of opportunity available to firms capable of adapting their operations.
For Bitfarms, the transition represents both a challenge and an opportunity. Successfully converting mining focused sites into computing ready facilities requires technical expertise, capital investment and careful planning. Yet the potential rewards include more predictable cash flows and stronger relationships with enterprise clients.
Looking Ahead for Bitfarms
As Bitfarms completes its exit from Latin America, attention will now turn to how effectively it can execute its North American growth strategy. The reinvestment of proceeds from the Paraguayan sale into artificial intelligence and computing infrastructure will be closely watched by investors and analysts alike.
The company’s ability to balance its legacy mining operations with emerging computing opportunities will likely shape its performance over the coming years. While short term market reactions have been cautious, long term prospects may depend on securing strategic partnerships and delivering projects on time and within budget.
By narrowing its geographic focus and aligning with fast growing technology sectors, Bitfarms is positioning itself for a new phase of development. Whether this transformation will restore investor confidence remains to be seen, but the decision marks one of the most significant shifts in the company’s history.
