Overview
- Bitfarms signed a definitive agreement to sell its 70‑megawatt Paso Pe site in Paraguay to the Sympatheia Power Fund, which is managed by Singapore-based Hawksburn Capital.
- The deal values the asset at up to $30 million, including $9 million due at closing—partially covered by a non‑refundable deposit—followed by milestone payments over roughly 10 months.
- Closing is targeted in about 60 days subject to customary conditions, after which Bitfarms’ energy portfolio will be located entirely in North America.
- CEO Ben Gagnon said the divestment brings forward years of expected free cash flow to be redeployed into higher‑return North American HPC/AI energy infrastructure in 2026.
- Bitfarms shares rose roughly 4.25% in premarket trading to about $2.44–$2.45, according to Benzinga Pro data.