Bitfarms Ditches Latam Drama for North American Glam! 💸🚀

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Well, well, well! Bitfarms has finally decided to pack its bags and leave the Latam party early. 🎉 The mining company has struck a deal with the Sympatheia Power Fund (SPF) to sell its Paso Pe site in Paraguay. Apparently, they’re trading empanadas for maple syrup and going all-in on North American power. 🍁💡

So, Bitfarms, the publicly traded American bitcoin mining darling, has officially ghosted Latam. 👻 Yep, they’ve sold their Paso Pe site, a 70 MW powerhouse, to the Singapore-based SPF. Because, you know, who needs Latin American vibes when you can have North American hustle? 🇺🇸

The deal is set to close in 60 days, which is basically the crypto equivalent of “see you next Tuesday.” 🗓️ The site will be handed over smoother than a buttered-up PR statement. The price tag? A cool $30 million, with $9 million upfront in Q1 2026 and the rest dribbled out over the next 10 months. 💰

Bitfarms Latam Exit Chart

Ben Gagnon, Bitfarms’ CEO, is basically doing a victory lap. 🏆 He’s all like, “We’re 100% North American now, baby!” According to his statement:

“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. Because, you know, who doesn’t love a good pivot? 🌀”

Meanwhile, SPF’s Josh Murchie is promising a “seamless transition” at Paso Pe. Seamless, like a well-tailored suit or a perfectly executed crypto scam. 🤥

This move is part of Bitfarms’ grand plan to dive headfirst into the High-Performance Computing (HPC) and Artificial Intelligence (AI) pool. Last November, Gagnon was all, “We’re gonna be the first to support Vera Rubin and the next wave of Nvidia GPUs!” Because, obviously, AI is the new black. 🤖

FAQ (Because We Know You’re Curious) 🧐

  • What’s Bitfarms’ latest drama?
    They’ve officially ditched Latam by selling their Paso Pe site in Paraguay. Adiós, amigos! 👋
  • Who’s the lucky buyer?
    The Singapore-based Sympatheia Power Fund (SPF), snagging a 70 MW site. 🌏⚡
  • How much did they get for it?
    A tidy $30 million, with $9 million upfront and the rest in installments. 💸
  • What’s Bitfarms’ new obsession?
    They’re going all-in on North America and the HPC/AI craze. Because, why not? 🤓

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2026-01-04 15:57