2026-01-02 13:25:33

Publicly traded mining company Bitfarms recently made a big move—selling the Paso Pe mine in Latin America for $30 million to Sympatheia Power Fund, a subsidiary of Singapore's Hawksburn Capital. The deal will be paid in two installments, with $9 million received in cash in the first quarter of this year, and the remaining $21 million to be paid within 10 months after the closing.

In simple terms, this marks Bitfarms' official farewell to its mining operations in Latin America. As a Nasdaq-listed company, this move reflects a broader adjustment in the global strategy of mining companies—asset optimization, capital repatriation, and a renewed focus. For the industry, it also signals a reassessment by large mining firms of the market prospects in certain regions.

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gas_fee_trauma

· 2h ago

Mining companies are selling assets, what does it indicate? It seems they have given up on this move in Latin America. No wonder electricity costs are getting higher and higher. Is Bitfarms just squeezing the bubble or really pessimistic? The $30 million installment payment feels a bit risky. Selling mining farms for cash—are these mining companies starting to shrink? Has the bear market not bottomed out yet? Mining farms in Latin America are selling for half price, which is a very clear sign that the industry is cooling down. Basically, it's a lack of money; otherwise, who would be willing to sell such high-quality assets?

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MetaverseLandlord

· 2h ago

Latin American mines have been sold... At this pace, it seems necessary to shrink towards North America and Asia. --- 30 million USD in installment payments, this buyer is a bit cautious... --- Major reshuffle in the mining landscape, is Bitfarms going all-in on North America? --- Has the advantage of cheap electricity in Latin America disappeared, or is the competition just too fierce? --- Cash flow pressure on listed companies, or strategic adjustments... It's hard to judge. --- Selling mines to recover funds, it feels like the industry is all about reducing. --- Two years ago, I was optimistic about Latin America, now I’m out. The trend is changing quickly. --- No wonder major mining companies in the crypto circle are adjusting recently; it turns out they all have these moves. --- It took 10 months to get only 21 million, sellers have to wait... What kind of agreement is this? --- What is the background of Bitfarms' Singapore buyer? Is it reliable? --- Asset optimization sounds good, but in reality, it’s probably just cutting losses.

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WealthCoffee

· 2h ago

Oh no, Bitfarms is selling assets. Mining in Latin America might really be unsustainable. --- 30 million USD, not too much, not too little. The installment payment... a bit cautious. --- Mining companies are fleeing, indicating that Latin America really has no future. Is it policy or environment? --- Even NASDAQ-listed companies are starting to downsize. Retail investors should be cautious when bottom-fishing, everyone. --- Looking at this trend, mining companies are flocking to North America and the Middle East. Latin America has truly become a discarded region. --- The installment payment scheme, are they afraid buyers will regret? Haha. --- Capital outflow is the key. Mining companies are all lacking cash flow right now. --- With Bitfarms selling off, the prices of other mining farms that follow suit will have to be pushed down. --- If this deal had happened half a year ago, it wouldn't have sold at all. The market is really filtering out.

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ETHmaxi_NoFilter

· 2h ago

30 million sold off Latin American mines, is this about focusing firepower? --- Bitfarms backing down? Or is there another deeper meaning... --- Selling mines for cash, a typical sign of financial tightness. --- Is the outlook for mining in Latin America so bad? It felt like it was being hyped last year. --- The installment payment feels a bit off; waiting 10 months for that 21 million is enough to tinker with. --- Mining companies are all reshuffling; who will be pushed out next? --- It seems not all places are suitable for mining; geography is also destiny.

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