BITFARMS sells Paraguay sites for $ 85 million and focuses on us.

Bitfarms, a multinational bitcoin mining company, will sell hive digital technology, a mining and AI company that compete for $ 85 million for 200 megawatts (MW) facilities of Paraguay Baseball. Capital will be reinvested to strengthen the capacity of the US Bit Plones.

On January 28, HIVE signed a binding intention to buy one of three Bitfarms ownership and operating bitcoin (BTC) mining farms in Paraguay.

Yguazu Farm was the largest Bitcoin mining facility in Bitfarms. According to the company data, the other two mining sites, Villarrica and PASO PE, have a combination capacity of 80MW, which contributes to 10MW and 70MW, respectively.

relevant: Hive Digital expands its focus from Crypto Mining to AI data center.

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Bitfarms CEO Ben Gagnon said that this measure aims to simplify the company’s operation and re -adjust to North America.

The company plans to re -adjust its portfolio into about 80% North America and 20% by the end of 2025. GAGNON added:

“BITFARMS will reinvest capital in the US 1GW growth pipeline for the BTC and HPC/AI infrastructure, which is an important milestone in the transition from the International Bitcoin miner to the North American energy and computational infrastructure company. ‘

In addition to Paraguay, BITFARMS currently has 158.5MW, 17.5MW and 54MW capacity in Canada, the United States and Argentina, respectively.

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The transaction between HIVE and BITFARMS is expected to close at the end of the first quarter of 2025, and the latter will receive a $ 25 million first payment. HIVE will pay $ 33 million for the next six months.