Bitfarms has sold its 200 MW data center in Paraguay for $85 million, enabling a shift to 80% North American operations by 2025. This sale will reduce capital expenditures and lower average power costs, allowing for reinvestment into a U.S. growth pipeline for Bitcoin mining and HPC/AI infrastructures.
Bitfarms, a global Bitcoin mining company, has finalized the sale of its 200 MW data center in Yguazu, Paraguay, to HIVE Digital Technologies for approximately $85 million. This strategic decision marks Bitfarms’ transition from an international Bitcoin miner to focusing on energy and compute infrastructure in North America.
The sale is anticipated to yield multiple benefits: it will significantly reduce capital expenditure requirements for 2025 by lowering average power costs by 10%, and it will rebalance Bitfarms’ operational portfolio to comprise roughly 80% North American and 20% international operations by the end of 2025.
Bitfarms plans to reinvest the proceeds from this sale into its growth pipeline in the U.S., which includes a 1.1 GW expansion for Bitcoin mining and High-Performance Computing (HPC) and Artificial Intelligence (AI) infrastructure.
The impact of this transaction includes a loss of 200 MW operational capacity in Paraguay but is expected to streamline operations and enhance profitability as Bitfarms shifts towards lower-cost North American operations.
Founded in 2017, Bitfarms operates Bitcoin data centers primarily powered by environmentally friendly hydro-electric energy. The company is committed to sustainable energy usage while expanding its presence across North America.
For further information about Bitfarms, updates, and community engagement, visit their official website and social media platforms.
In summary, Bitfarms’ sale of its Paraguayan data center signifies a pivotal shift toward North American operations, optimizing costs and capital investments. The strategic reinvestment of the proceeds into U.S. growth opportunities positions the company favorably within the evolving landscape of Bitcoin mining and energy infrastructure.
Original Source: www.stocktitan.net
