Bitfarms to sell Paso Pe bitcoin mine for $30M as firm quits Paraguay

Bitfarms (NASDAQ: BITF) is selling its 70 MW bitcoin mine in Paso Pe, Paraguay, according to a company press release. The bitcoin miner-turned AI infrastructure firm has entered into a purchase agreement with Sympatheia Power Funds for a total pay out of up to 30millionforthesite.Perthedealsterms,SympatheiaPowerFundswillbuyoutallsharesoftheBitfarmssubsidiarythatholdsBitfarmsbitcoinminingassetsinPasoPe.Thisentailsa30 million for the site. Per the deal’s terms, Sympatheia Power Funds will buyout all shares of the Bitfarms’ subsidiary that holds Bitfarms’ bitcoin mining assets in Paso Pe. This entails a 9 million payment upon the deal’s projected close in Q1 ...