2 hours ago
1
The company is selling the site to the Sympatheia Power Fund, managed by Singapore-based Hawksburn Capital.
Jan 2, 2026, 1:24 p.m.
Bitcoin miner Bitfarms (BITF) is set to exit Latin America with the sale of its site in Paso Pe, Paraguay.
The company is selling the site to the Sympatheia Power Fund (SPF), managed by Singapore-based Hawksburn Capital, for up to $30 million, the company announced on Friday.
The transaction, which is subject to customary closing conditions, is expected to close within the next 60 days, Bitfarms said.
Bitfarms will receive $9 million upfront and up to $21 million over the subsequent 10 months based on certain payment milestones.
"This transaction brings forward an estimated two to three years of anticipated free cash flows from operations to be reinvested into our North American HPC/AI energy infrastructure in 2026, where we believe we will be able to generate much stronger returns on our invested capital with HPC/AI," Bitfarms CEO Ben Gagnon said.
The deal follows Bitfarms' sale of a site in Yguazú, Paraguay to bitcoin mining company Hive Digital Technologies (HIVE) just under a year ago.
BITF shares were up around 4% at $2.45 in pre-market trading, coinciding with a lift in BTC's price to just under $90,000.
More For You
KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Coinbase’s Base faces builder backlash over creator coin push
Builders on Base are pushing back against the network’s close alignment with Zora, arguing the creator-coin narrative sidelines established projects.
What to know:
- Base has seen a surge in creator-coin issuance via Zora, with daily token mints surpassing Solana in August, boosting onchain activity and attention.
- Some Base-native projects say marketing and social support has become narrowly focused on Zora-linked initiatives, leaving other established communities without recognition.
- While Base continues to process more than 10 million transactions per day, critics warn that deteriorating builder sentiment could push projects toward rival chains like Solana or Sui.
English (US) ·