Bitfarms' Big Move: Leaving Latin America for AI

Bitfarms Ltd. , a well-known Bitcoin mining company, made a bold decision to leave Latin America. This move comes as a surprise to many, but it's not entirely unexpected given the challenges in the crypto mining world. Bitcoin mining involves using powerful computers to solve complex math problems and secure the Bitcoin network. In return, miners get newly minted Bitcoin. However, this process has become less profitable due to lower rewards and higher electricity costs. Instead of sticking to Bitcoin mining, many companies are shifting their focus to artificial intelligence (AI). Bitfarms is one of them. The company has agreed to sell its 70 MW site in Paso Pe, Paraguay, for $30 million. This sale is expected to be finalized within 60 days, marking Bitfarms' complete exit from Latin America.The company plans to use the money from this sale to invest in AI and high-performance computing (HPC) infrastructure in North America. Bitfarms CEO Ben Gagnon said, \"The sale of Paso Pe is the last step in our plan to leave Latin America and focus on North American power and infrastructure for AI. \" This decision aligns with Bitfarms' earlier announcement in November 2025 to wind down its Bitcoin mining business by 2027. The news of this strategic shift caused Bitfarms' stock to surge by more than 12%, reaching $2. 6399 at the time of writing. The shift from Bitcoin mining to AI is not just about changing directions. It's about adapting to a changing market. With the rise of AI, companies like Bitfarms are finding new ways to use their existing infrastructure. This move could be a smart strategy to stay relevant in a rapidly evolving tech landscape.