Bitfarms enters share purchase agreement to sell Paso Pe site for up to $30M

Bitfarms (BITF) entered into a definitive share purchase agreement to sell its 70 MW site in Paso Pe, Paraguay to the Sympatheia Power Fund, a crypto infrastructure fund managed by Singapore-based Hawksburn Capital. The transaction is expected to close within 60 days of this release and completes Bitfarms’ exit from Latin America. The closing of the transaction is subject to the satisfaction or waiver of customary closing conditions. Under the terms of the SPA, the Buyer will acquire from Bitfarms and its affiliates the shares of the single purpose subsidiary that holds all the operating assets related to its Paso Pe, Paraguay, Bitcoin mining site. The proposed transaction values the operating site at up to $30M, with Bitfarms expected to receive: $9M in cash upon closing of this transaction, expected in Q1 2026. Up to $21M over 10 months following closing based on certain payment milestones.