Bitfarms announced the sale of its site in Paso Pe, Paraguay, which the company views as an exit from the Latin American region. Under the deal, Bitfarms receives $9 million immediately and can earn up to $21 million over the next ten months upon meeting certain payment milestones. This transaction follows the earlier sale of the Yguazú site to Hive Digital Technologies less than a year ago, creating a sequence of moves to reduce its presence in the region.
Bitfarms Sells Mining Farm in Paraguay
The sale concerns the Paso Pe site in Paraguay; terms include an initial payment and additional payments tied to the fulfillment of agreement milestones. Total payments consist of $9 million upfront and up to $21 million over the following 10 months depending on meeting deal conditions. This transaction formally completes another phase of Bitfarms' asset reduction in the region.
Background of the Deal
Earlier, Bitfarms sold the Yguazú site in Paraguay to Hive Digital Technologies less than a year ago, and the current sale continues the trend of withdrawing sites from the country. For a detailed overview of the previous step, see the article on the Paso Pe site, which gathers key details of the company’s past decisions. These consecutive sales indicate a shift in Bitfarms' geographic asset profile.
Implications for Bitfarms
With the sale of the Paso Pe site, the company formally completes another stage of its exit from Latin America and focuses attention on other areas of its operations. This deal follows prior sales and may indicate asset restructuring, although specific plans for new regions are not disclosed in this announcement. For context on Bitfarms’ strategic business changes, see the article on its transition to AI infrastructure.
Why This Matters
For most miners in Russia, this deal will not cause immediate operational changes since it involves sites in Paraguay, not Russian assets. Nevertheless, Bitfarms’ consecutive sales reflect a trend of major operators redistributing capacity, indirectly affecting the equipment market and demand for hosting services. If you work with international sites or consider purchasing space abroad, such deals change the landscape of available options and partnership offers.
What to Do?
For miners with 1–1000 devices in Russia, it’s useful to follow simple steps to stay prepared for market changes and offers from major operators. Below is a practical action plan you can implement soon.
- Monitor official statements from Bitfarms and partners to stay informed about supply or service changes.
- Check alternative hosting options and equipment suppliers in Russia and neighboring regions to have backup plans if overseas partner conditions change.
- Review your service contracts and agreements to ensure they account for risks related to relocation or closure of sites by foreign operators.
- Maintain financial reserves to cover potential downtime and relocation costs for outdated equipment if needed.