Bitfarms is selling its Bitcoin mining site in Paraguay.

Bitfarms Ends Its Operations in Latin America

Bitfarms has decided to cease its operations in Bitcoin mining by pulling out of Latin America. The company has initiated the process to sell its mining site in the Paso Pe region of Paraguay for 30 million dollars.

As part of this sale, Bitfarms will receive an initial payment of 9 million dollars. The remaining 21 million dollars will be collected over the next 10 months, according to the established payment targets.

This agreement comes after Bitfarms sold another mining site in Yguazú, Paraguay to a Bitcoin mining company named Hive Digital Technologies last year.