Overview
- Bitfarms entered a definitive agreement to sell its 70 MW Paso Pe facility to Sympatheia Power Fund, valuing the site at up to $30 million.
- The deal provides $9 million at closing plus up to $21 million in milestone payments over the following ten months, with a $1 million non‑refundable deposit already paid.
- Closing is expected within roughly 60 days subject to customary conditions, which would complete Bitfarms’ withdrawal from Latin America.
- Upon completion, Bitfarms’ footprint centers on North America with 341 MW energized, 430 MW under development in the U.S., and a roughly 2.1 GW multi‑year pipeline.
- Management is pivoting from Bitcoin mining toward AI/HPC, including planned conversions such as a Washington State site, and shares rose in pre‑market trading after the announcement.