Bitfarms Sells Paraguay Data Center to Focus on North American Growth

Bitfarms ( (TSE:BITF) ) has issued an update.

Bitfarms Ltd. has completed the sale of its 200 MW data center in Yguazu, Paraguay to HIVE Digital Technologies for approximately $85 million. This strategic move allows Bitfarms to streamline operations and shift focus towards North America, aiming for a portfolio with 80% North American energy by the end of 2025. The sale is expected to reduce 2025 capital expenditures and power costs, with plans to reinvest in U.S. growth opportunities, including Bitcoin mining and HPC/AI infrastructure, aligning with Bitfarms’ strategy to diversify beyond Bitcoin mining.

More about Bitfarms

Founded in 2017, Bitfarms is a global Bitcoin and vertically integrated data center company that sells its computational power to mining pools for Bitcoin payments. The company develops, owns, and operates mining facilities with in-house management and technical services. Bitfarms operates 15 Bitcoin data centers across the United States, Canada, Paraguay, and Argentina, utilizing environmentally friendly hydroelectric power and long-term contracts.

YTD Price Performance: -31.68%

Average Trading Volume: 38,661,008

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $503.3M

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