Bitfarms Exits Latin America with $30 Million Sale of Paraguay Mining Facility

Bitfarms Exits Latin America with Sale of Paraguay Site

Bitfarms, a prominent Bitcoin mining company, has announced its exit from Latin America through the sale of its facility in Paso Pe, Paraguay, for a total of $30 million. The buyer is the Sympatheia Power Fund, managed by Singapore-based Hawksburn Capital. The transaction is expected to close within 60 days, subject to customary closing conditions.

As part of the deal, Bitfarms will receive an upfront payment of $9 million and up to $21 million over the next 10 months based on certain payment milestones. CEO Ben Gagnon stated, "This transaction brings forward an estimated two to three years of expected free cash flows from operations, which will be reinvested into our North American HPC/AI energy infrastructure." This strategic move follows the previous sale of another site in Yguazú, Paraguay, to Hive Digital Technologies.

"We believe that we can achieve significantly higher returns on our invested capital with HPC/AI," said Gagnon.

Key Takeaways: Bitfarms is selling its Paraguay site for $30 million, with a focus on reinvesting in North America. The deal is expected to enhance the company's liquidity and operational capacity.

BitVentures Enters Digital Asset Business with Mining Hardware Purchase

BitVentures Limited has officially launched a new business segment focused on digital assets by acquiring several fleets of crypto mining machines with a total capacity of approximately 0.5 MW. The company, currently valued at $95.76 million, purchased mining equipment from Bitmain, including models such as Antminer S21 XP Hydro and Antminer L9.

The combined fleet is expected to deliver a hashrate of 30 PH/s for Bitcoin and 0.5 TH/s for Litecoin and Dogecoin. Operations are set to commence in January 2026, with full capacity anticipated in the first quarter of 2026. CEO Lawrence Wai Lok described the acquisition as a significant step in the company's strategy for digital assets.

Key Takeaways: BitVentures is entering the digital asset market with a focus on mining hardware, aiming to expand into other areas like staking and ecosystem partnerships.

HIVE Digital Technologies: A Mixed Bag of Opportunities and Risks

HIVE Digital Technologies is generating buzz on social media as a hybrid player in Bitcoin mining and AI computing. However, the company faces scrutiny regarding its sustainability and market volatility. While some view HIVE as a speculative investment with potential for high returns, others caution about the risks associated with its dependence on Bitcoin prices and market fluctuations.

HIVE operates large data centers primarily focused on Bitcoin mining, emphasizing the use of renewable energy sources. The company is also diversifying into AI and high-performance computing, which could mitigate risks associated with Bitcoin price volatility. However, investors should be aware that HIVE's stock is highly volatile, making it suitable for those with a high-risk tolerance.

Key Takeaways: HIVE Digital Technologies presents both opportunities and risks, appealing to speculative investors while posing challenges due to market volatility and competition.

Sources:

• Bitfarms (BITF) verlässt Lateinamerika mit Verkauf des Standorts in Paraguay
• BitVentures steigt mit Kauf von Mining-Hardware in das Geschäft mit digitalen Vermögenswerten ein
• Hype um HIVE Digital Technologies: Genialer KI? und Krypto-Play oder nur der nächste Zockertraum?
• Bitfarms-Miner zieht sich aus Lateinamerika zurück