Bitfarms Agrees to Sell Paraguay Power Site for Up to $30M As Part of Asset Rebalance
By Adriano MarcheseBitfarms has agreed to sell its 70-megawatt site in Paraguay to Sympatheia Power Fund for up to $30 million as part of its strategy to focus on North American power assets.The Canadian energy and digital infrastructure company said Friday that it has entered into a definitive share purchase agreement to sell its site in Paso Pe to Sympatheia Power, a crypto infrastructure fund managed by Singapore-based Hawksburn Capital.Bitfarms will receive $9 million in cash, and up to $21 million over ten months following the closing of the deal based on certain payment milestones.The move is part of the company's shift towards holding assets entirely based in North America. The transaction also boosts Bitfarms' cash flexibility by selling part of the operation sooner and securing short‑term financing.The transaction is expected to close within 60 days, it said.Write to Adriano Marchese at [email protected]