Bitfarms Ltd. (BITF) shares climbed Friday following news that the company is ditching its last Latin American asset to double down on North American energy infrastructure. The move is all about repositioning for where the real action is: powering artificial intelligence and high-performance computing operations.
The company has inked a deal to sell its 70-megawatt Paso Pe facility in Paraguay to the Sympatheia Power Fund, which is managed by Singapore-based Hawksburn Capital. It's a clean break from the region that frees up capital and lets management focus entirely on what they believe are higher-return opportunities closer to home.
What the Deal Looks Like
The buyer is acquiring the subsidiary that holds all the Paso Pe assets. Total valuation hits up to $30 million, structured as $9 million due at closing (partially covered by a non-refundable deposit already paid), with additional milestone payments rolling in over the next 10 months.
The transaction should wrap up in about 60 days, assuming standard closing conditions are met. Once finalized, Bitfarms will be completely out of Latin America.
CEO Ben Gagnon explained that selling now accelerates cash generation that would have otherwise trickled in over several years. He pointed out that the proceeds will fuel North American HPC and AI energy projects launching in 2026, where the company expects considerably stronger returns.
Josh Murchie from Sympatheia Power Fund said the acquisition aligns with the fund's regional growth strategy while maintaining operational continuity at the site.
Going All-In on North America
Post-closing, Bitfarms' energy portfolio becomes exclusively North American. That includes current capacity, active U.S. projects already underway, and a multi-year pipeline for future expansion.
The strategic shift comes as interest in crypto infrastructure plays continues heating up. Bitfarms recently saw the launch of new trading products tied to its shares, including one offering daily leveraged exposure, reflecting growing investor appetite for targeted positions in this space.
BITF Price Action: Bitfarms shares jumped 4.25% to $2.44 during premarket trading Friday, according to market data.