Bitfarms sells Paraguay site to Hive for $85M, refocuses on US
Bitfarms will sell its largest Paraguay mining farm to Hive Digital for $85 million as it focuses on its US expansion in Bitcoin and AI infrastructure.
Bitfarms, a multinational Bitcoin mining firm, will sell its 200 megawatt (MW) facility in Yguazu, Paraguay, to Hive Digital Technologies — a competing mining and AI company — for approximately $85 million. The capital will be reinvested to strengthen Bitfarms’ capacity in the US.
On Jan. 28, Hive signed a binding letter of intent to purchase one of the three Bitfarms-owned and operated Bitcoin (BTC) mining farms in Paraguay.
Bitfarm’s Bitcoin mining site in Yguazu, Paraguay. Source: Bitfarms
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Author: Arijit Sarkar
