Bitfarms Completes $30M Paraguay Sale, Redirects Capital to North American AI/HPC Infrastructure

Bitfarms Ltd. has completed the sale of its remaining Latin American operations, marking a full exit from the region. The company agreed to sell its 70-megawatt Paso Pe site in Paraguay to Sympatheia Power Fund for up to $30 million according to reports. This transaction accelerates cash flows and allows the company to refocus on North American energy and data-center infrastructure tied to AI and high-performance computing as research shows.

The deal includes $9 million in cash at closing, including a $1 million non-refundable deposit already paid. An additional $21 million in milestone-based payments will be received over the next 10 months according to financial reports. Bitfarms CEO Ben Gagnon stated the proceeds will be used to invest in North American HPC and AI energy infrastructure, starting in 2026. This shift is expected to generate stronger returns than previous Latin American operations as market analysis indicates.

The company’s energy portfolio is now fully concentrated in North America. This includes 341 megawatts of energized capacity, 430 megawatts under active development in the U.S., and a multi-year pipeline of roughly 2.1 gigawatts across the region as industry data shows. This strategic realignment reflects a broader industry trend where energy and infrastructure companies are pivoting toward AI and HPC. Bitfarms has been making this shift since mid-2025 according to company disclosures.

Why Did This Happen?

Bitfarms began signaling this strategic shift in mid-2025, citing stronger returns and growing demand for energy-dense data centers as market analysis suggests. The company’s decision to exit Latin America aligns with its broader vision to focus on U.S.-based power assets capable of supporting AI and HPC workloads. This move follows the sale of its 200-megawatt Yguazu data center in Paraguay in March 2025 according to industry reports.

The company has also announced plans to convert select mining sites to support AI infrastructure. Bitfarms expects AI data centers to offer more stable and profitable returns compared to Bitcoin mining as analysts note. This shift is part of a broader industry-wide movement where crypto firms are favoring AI over traditional mining according to market trends.

How Did Markets React?

Market reaction to the news was measured but positive. Bitfarms shares traded around $2.43 in pre-market action on Thursday, up roughly 3.4% as market data shows. The stock has shown modest recovery from mid-December lows but remains below its 2025 highs of around $6.50 according to trading analytics.

Analysts see long-term upside in the AI data center strategy, with price targets ranging from $4 to $6. However, concerns remain about execution risks, conversion costs, and near-term liquidity . The recent share price volatility has added to investor scrutiny of the company’s pivot to AI .

What Are Analysts Watching Next?

Investors are closely watching how Bitfarms executes its AI infrastructure plans. The company’s ability to generate returns on invested capital will be a key metric for analysts. Questions persist around the timeline for AI revenue, conversion costs, and overall execution efficiency .

The company has also raised $588 million in recent financing, which it plans to use for the transition to AI infrastructure. The conversion of its Washington State site to a liquid-cooled GPU facility is one of the key milestones to watch .

Overall, the move reflects a broader industry trend where companies are repositioning to capitalize on the growing demand for AI infrastructure. Bitfarms’ decision to exit Latin America underscores its commitment to a North American-focused strategy, which it believes is more aligned with future growth opportunities .