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Bitfarms Announces Complete Exit from Latam with Sale of its Paso Pe Site for up to $30M
-Rebalances energy assets portfolio to 100% North American- -Bitfarms to reinvest capital in Nort...
About this update from Keel Infrastructure Corp.
[{"type":"text","content":"Bitfarms Announces Complete Exit from Latam with Sale of its Paso Pe Site for up to $30M\n-Rebalances energy assets portfolio to 100% North American--Bitfarms to reinvest capital in North American HPC/AI energy infrastructure- TORONTO, Ontario and NEW YORK, Jan. 02, 2026 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF), a North American energy and digital infrastructure company, today announced that it has entered into a definitive share purchase agreement (“SPA”) to sell its 70 MW site in Paso Pe, Paraguay to the Sympatheia Power Fund (SPF), 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. Bitfarms CEO Ben Gagnon stated, \"I'm pleased to announce the strategic sale of our Paso Pe site and decisive rebalancing of our energy portfolio to 100% North American. This transaction brings forward an estimated two to three years of anticipated free cash flows from operations to be reinvested into our North American HPC/AI energy infrastructure in 2026, where we believe we will be able to generate much stronger returns on our invested capital with HPC/AI. The sale of Paso Pe is the culmination of a series of transactions to completely exit Latam, and refocus the company, its management team and capital on 100% North American power and infrastructure for HPC/AI.” SPF representative Josh Murchie said, “This transaction accelerates SPF’s regional expansion plan, and our priority is an uninterrupted, seamless transition from day one — maintaining continuity at Paso Pe as we move into the next phase of growth.” TermsUnder 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 “project shares”). The proposed transaction values the operating site at up to $30 million, with Bitfarms expected to receive: $9 million in cash upon closing of this transaction, expected in Q1 2026 (including a $1 million non-refundable deposit, which has been paid by the buyer);Up to $21 millio...