Bitfarms Completes Sale of Yguazu Data Center, Focuses on North American Growth

Bitfarms Ltd. has completed the sale of its Yguazu, Paraguay data center to HIVE for approximately $85 million. The transaction allows Bitfarms to focus on the North American market, aiming for a portfolio of 80% North American energy resources by 2025. The proceeds will reduce capital expenditure and promote growth in Bitcoin mining and high-performance computing.

Bitfarms Ltd. has successfully completed the strategic sale of its 200 MW data center located in Yguazu, Paraguay, to HIVE Digital Technologies, valued at approximately $85 million. The transaction, announced on March 18, 2025, allows Bitfarms to streamline operations and focus on expanding within the North American market. By the end of 2025, the company anticipates its energy portfolio to consist of approximately 80% North American and 20% international resources.

Bitfarms’ CEO Ben Gagnon expressed satisfaction with the rapid sale completion, emphasizing the company’s goal to recalibrate its portfolio more towards North America. Meanwhile, CFO Jeff Lucas highlighted that this sale is expected to substantially decrease the capital expenditure requirements for 2025 and reduce average power costs by 10%. The proceeds will be reinvested into growth initiatives for Bitcoin mining and high-performance computing (HPC) infrastructure in the United States.

Founded in 2017, Bitfarms operates robustly in the Bitcoin mining sector, managing vertically integrated data centers across multiple countries, including the United States, Canada, Paraguay, and Argentina. The company emphasizes sustainability by utilizing eco-friendly hydroelectric power and long-term energy contracts to support its operations in an environmentally responsible manner.

For more information regarding Bitfarms and its operations, interested parties can visit www.bitfarms.com or their social media platforms such as Facebook, Instagram, and LinkedIn, which showcase various events and developments.

The successful sale of Bitfarms’ Yguazu data center marks a significant pivot towards enhancing its North American presence in the Bitcoin market. With an expected focus on reducing costs and reinvesting in growth, Bitfarms aims to solidify its position in both Bitcoin mining and high-performance computing. The company’s commitment to sustainability furthermore amplifies its operational effectiveness and environmental responsibility.

Original Source: financialpost.com