Bitfarms Ltd. (BITF) Announces the Sale of Bitcoin Mining Site in Paso Pe

Bitfarms Ltd. (NASDAQ:BITF) is one of the Stocks to Buy Under $10 with High Potential. On January 2, Bitfarms Ltd. (NASDAQ:BITF) announced the sale of its 70 MW Bitcoin mining site in Paso Pe, Paraguay to Sympatheia Power Fund.

Management noted that this deal marks their exit from Latin America as it is shifting its entire operations to North America. The deal is expected to close within the next 60 days of the announcement. As per the transaction details, Bitfarms Ltd. (NASDAQ:BITF) will receive $9 million in cash upon closing of this transaction, expected in Q1 2026. Moreover, the company will also get up to $21 million over the next 10 months following the close of the transaction as milestone payments.

Management noted that this aligns with their strategic initiative to focus on North America for higher returns in HPC/AI infrastructure. Moreover, the deal also accelerates 2 to 3 years of expected free cash flow from Paso Pe, allowing the company to reinvest.

Bitfarms Ltd. (NASDAQ:BITF), a leading North American energy and digital infrastructure company, specializes in high-performance computing and Bitcoin mining.

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Disclosure: None. This article is originally published at Insider Monkey.