Bitfarms Completes Strategic Sale of its Yguazu, Paraguay Data Center
-Accretive transaction valued at approximately U.S. $85 million-
-Bitfarms to reinvest capital in U.S. growth opportunities-
This news release constitutes a “designated news release” for the purposes of Bitfarms’ second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.
TORONTO, Ontario, March 18, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global Bitcoin and vertically integrated data center company, today announced the successful completion of the sale of its 200 MW data center in Yguazu, Paraguay to HIVE Digital Technologies, Ltd. (“HIVE”).
Bitfarms CEO Ben Gagnon stated,
We are pleased to have expeditiously completed the sale of our Yguazu site to HIVE, allowing us to streamline our operations and further rebalance our portfolio towards North America.
“We now anticipate that our year-end 2025 proforma energy portfolio will be ~80% North American and ~20% international, marking a significant milestone in our transition from an international Bitcoin miner to a North American energy and compute infrastructure company.”
CFO Jeff Lucas stated,
This accretive sale is expected to significantly reduce our 2025 capex requirements, while reducing our average power costs by 10%.
“We plan to reinvest the savings and capital from this sale towards our 1.1 GW U.S. growth pipeline for Bitcoin mining and HPC/AI infrastructure, in line with our strategy to grow in the U.S. and diversify beyond Bitcoin mining.”
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Bitfarms Completes Strategic Sale of its Yguazu, Paraguay Data Center, source
