Bitfarms Ltd. (BITF) Rebalances Energy Portfolio to Focus on North America After Latin America Exit

The announcement follows the merchantability of the company’s 70 MW tract successful Paso Pe, Paraguay, to the Sympatheia Power Fund (SPF). The operating tract is valued astatine $30 million, and Bitfarms is poised to person $9 cardinal successful currency upon closing the transaction successful the archetypal quarter. Additionally, it is entitled to $21 cardinal implicit 10 months, taxable to definite outgo milestones.

The merchantability is poised to bring guardant an estimated 2 to 3 years of escaped currency travel from operations. It besides paves the mode for the institution to reinvest successful its North American HPC/AI vigor infrastructure successful 2026, wherever it expects to make overmuch much important returns.

“The merchantability of Paso Pe is the culmination of a bid of transactions to wholly exit Latam, and refocus the company, its absorption squad and superior connected 100% North American powerfulness and infrastructure for HPC/AI,” CEO Gagnon said.

Bitfarms Ltd. (NASDAQ:BITF) is simply a North American vigor and integer infrastructure institution that develops, owns, and operates large-scale, vertically integrated information centers chiefly for Bitcoin mining, utilizing sustainable, often hydropower, to powerfulness its operations.

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