What to Know
Bitfarms sold its last Latin America Bitcoin mine for up to $30M to fully shift operations to North America.
The company plans to reinvest the proceeds into AI and high-performance computing energy projects starting in 2026.
The move reflects a wider trend where crypto firms are favoring AI over crypto.
Bitfarms has made a clear move toward AI by selling its last mining site in Latin America. The company announced it will sell its 70 megawatt Bitcoin mining facility in Paso Pe, Paraguay, for up to $30 million. With this deal, Bitfarms is fully exiting the region and shifting all its focus to North America and AI-powered infrastructure.
This decision highlights a growing trend in the crypto industry, where companies are slowly moving away from mining and looking toward AI as the next growth area.
Strategic Exit From LATAM
Bitfarms Ltd. confirmed that it has signed a final agreement to sell the Paso Pe site to the Sympatheia Power Fund, a crypto infrastructure fund managed by Hawksburn Capital in Singapore. The deal is expected to close within the next 60 days, once standard conditions are met.
The mining site is valued at up to $30 million. Bitfarms will receive $9 million in cash at closing, including a $1 million non-refundable deposit that has already been paid. The remaining amount, up to $21 million, will be paid over the following 10 months if certain conditions are met.
Why AI Over Bitcoin
Bitfarms CEO Ben Gagnon said the company wants to rebalance its energy portfolio and focus fully on North America. According to him, the sale brings forward two to three years’ worth of expected cash flows, which will now be used to build high-performance computing and AI energy infrastructure starting in 2026.
Bitfarms believes AI data centers can generate stronger and more stable returns than Bitcoin mining. AI systems need constant power and computing resources, making them attractive for companies that already specialize in energy and data centers. After the sale, Bitfarms’ energy portfolio will include 341 MW of active capacity, 430 MW under development, and a long-term pipeline of 2.1 gigawatts, almost all based in the United States.
How This Affects Crypto
When mining operations shut down or scale back, it can have mixed effects on the crypto market. On one hand, fewer miners can reduce selling pressure, since miners often sell Bitcoin to cover costs. This can support prices in the long term. On the other hand, mining shutdowns can raise concerns about network security and decentralization, especially if mining becomes concentrated in fewer regions. That said, Bitcoin’s network adjusts automatically, so it continues to run even if some miners leave.
While some firms are choosing AI over crypto mining, many experts believe the two technologies will continue to grow together. Countries like El Salvador have openly said they plan to invest in both Bitcoin and AI as part of their long-term national strategy. In December 2025, El Salvador partnered with Elon Musk’s xAI to deploy Grok across 5,000 public schools. The initiative aimed to support over one million students and thousands of teachers nationwide.
At the same time, AI-focused crypto tools are gaining attention. For example, Surf, an AI platform built specifically for crypto research and trading, recently raised $15 million from major investors including Pantera Capital and Coinbase Ventures. Its creators say everyday users want smarter tools that reduce mistakes and confusion, showing strong demand for AI in the crypto space.
Final Thoughts
Bitfarms’ exit from Latin America and its pivot toward AI shows how fast priorities are changing in the digital asset world. Bitcoin mining is no longer the only path forward for energy-heavy companies. As AI demand rises, more crypto firms may follow a similar route.
Also Read: Binance Closes 2025 With 300M Users and $34T Trading Volume
