Bitcoin mining company Bitfarms sells Latin American mining farm, $30 million deal finalized

LiquidityWitch · 2026-01-02T12:28:10+00:00

Bitcoin mining company Bitfarms has reached an agreement with Hawksburn Capital to sell the Paso Pe mine for $30 million, marking its exit from the Latin American market. This transaction reflects the company's strategic adjustment in response to market changes.

LiquidityWitch

2026-01-02 12:28:10

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【ChainNews】Nasdaq-listed Bitcoin mining company Bitfarms has new developments. Recently, they reached a final purchase agreement with Sympatheia Power Fund, a crypto infrastructure fund under Hawksburn Capital in Singapore, to sell their Paso Pe mining farm for $30 million.

The transaction is conducted in two steps: $9 million will be paid upfront in the first quarter of this year, and the remaining $21 million will be paid gradually within 10 months after the closing. This deal marks Bitfarms’ official exit from the Latin American market and a shift towards adjusting its global mining layout. For the mining industry landscape, such asset transfer events reflect proactive adjustments by leading mining companies in response to market changes—not passive exit, but strategic reallocation.

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TopEscapeArtist

· 7h ago

Selling the mining farm for cashing out, a typical head and shoulders top pattern... claiming it's a strategic adjustment, but I see clearly it's a run at high levels.

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PonziWhisperer

· 7h ago

$30 million to sell the mine, with a 10-month installment plan. This pace is a bit... strange. Selling the South American mine and shifting to a global reallocation sounds pretty high-end, but honestly, isn't it just escaping their electricity costs over there? Bitfarms' move seems to be well-calculated. By the way, is the Singapore fund reliable? Mining industry is like this—wherever costs are lower, that's where they go. Mining companies have no homeland, only electricity prices. Strategic reallocation? I think it looks more like being forced to cut losses, but it's still better than bankruptcy. Regarding the interest on this deal, $21 million over 10 months—how much does that make per month... has anyone calculated it? The era of selling mines has really arrived. It feels like big mining companies are all slimming down.

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MysteriousZhang

· 7h ago

Oops, Bitfarms' move is quite deliberate Paso Pe mine was sold, but the key is the installment payment method... it takes 10 months to receive the full amount, familiar with this kind of tactic The Latin American market is quick to release, shifting focus back to global deployment, the mining companies are still clear-headed Compared to passive clearing, what is this? Strategic stop-loss or shifting focus? 30 million USD for a new layout, let's see if they can turn it around later

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WalletDoomsDay

· 7h ago

It's the old trick of sacrificing land to survive again. The nice way to put it is "strategic reallocation," but I think it's just a prelude to a run. A 30 million transfer of Latin American mines, paid off in ten months... this pace is really 😅. Bitfarms is probably forced out by electricity costs; they can't find cheap power in Latin America anymore. Another "proactive adjustment," just listen and pretend to understand. Who doesn't know the real reason? Mining companies are moving locations one after another, all seem to be fighting for cheap electricity, but in the end, even the cheap options are gone. This deal isn't very pleasant for anyone, but it's definitely better than having the mining rigs confiscated. Basically, they can't get electricity anymore, so they hurriedly sell off. 21 million in installments, Sympatheia is basically giving Bitfarms a blood transfusion. The mining industry is getting more and more competitive...

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