Bitcoin miner Bitfarms (BITF) is about to exit Latin America with the sale of its web site in Paso Pe, Paraguay.
The corporate is promoting the positioning to the Sympatheia Energy Fund (SPF), managed by Singapore-based Hawksburn Capital, for as much as $30 million, the corporate introduced on Friday.
The transaction, which is topic to customary closing situations, is anticipated to shut inside the subsequent 60 days, Bitfarms stated.
Bitfarms will obtain $9 million upfront and as much as $21 million over the following 10 months based mostly on sure cost milestones.
“This transaction brings ahead an estimated two to 3 years of anticipated free money flows from operations to be reinvested into our North American HPC/AI vitality infrastructure in 2026, the place we consider we will generate a lot stronger returns on our invested capital with HPC/AI,” Bitfarms CEO Ben Gagnon stated.
The deal follows Bitfarms’ sale of a web site in Yguazú, Paraguay to bitcoin mining firm Hive Digital Applied sciences (HIVE) just below a 12 months in the past.
BITF shares had been up round 4% at $2.45 in pre-market buying and selling, coinciding with a elevate in BTC’s value to simply underneath $90,000.
