Overview
- Bitfarms signed a definitive deal to sell its 70 MW Paso Pe site to Sympatheia Power Fund, which is managed by Singapore-based Hawksburn Capital.
- Terms call for $9 million at closing in Q1 2026 and up to $21 million over roughly 10 months based on milestones, including a $1 million non‑refundable deposit already paid.
- The transaction is expected to close within about 60 days subject to customary conditions, finalizing Bitfarms’ withdrawal from Latin America.
- Management frames the divestiture as acceleration of cash flow for redeployment into U.S. and Canadian high‑performance computing and AI projects, with bitcoin mining scheduled to wind down through 2026–2027 and a Washington State conversion underway.
- Following the sale, Bitfarms reports a fully North American portfolio with 341 MW energized, 430 MW under development, and a 2.1 GW pipeline concentrated in the U.S., and its shares rose after the announcement.