Bitfarms sells Paraguayan headquarters to Hive for $85M, shifts focus to US
Bitfarms will sell its largest crypto mining farm in Paraguay to Hive Digital for $85 million.
Bitfarms, a multinational Bitcoin mining company, will sell its 200 megawatt (MW) facility in Yguazú, Paraguay, to Hive Digital Technologies – a competing mining and AI company – for approximately $85 million. The capital will be reinvested to bolster Bitfarms’ capacity in the United States.
On January 28, Hive signed a binding letter of intent to purchase one of the three Bitcoin (BTC) mining farms Bitfarms owns and operates in Paraguay.
The Yguazú farm was Bitfarms’ largest Bitcoin mining facility in the country. Its other two mining sites, Villarrica and Paso Pe, have a combined capacity of 80 MW, with each contributing 10 MW and 70 MW, respectively, according to company data.
