Bitfarms to sell Paraguay site to HIVE Digital Technologies for $85 million

From Nasdaq: 2025-01-28 03:00:52

Bitfarms Ltd. has agreed to sell its 200 MW site in Paraguay to HIVE Digital Technologies for approximately $85 million. The transaction is set to close in the first quarter of 2025, with Bitfarms receiving $25 million upfront. The company plans to reinvest the proceeds into a 1 GW growth pipeline in the U.S. for BTC and HPC/AI infrastructure. This move aligns with Bitfarm’s strategy to diversify beyond Bitcoin mining and capitalize on growth opportunities in High Performance Computing / Artificial Intelligence. The deal is expected to reduce Bitfarm’s power costs by 10% and lower its 2025 capital requirements.



Read more at Nasdaq: Bitfarms Intends To Sell 200 MW Paraguay Site To HIVE Digital Technologies