Bitfarms is selling its Bitcoin mining site in Paraguay.

Bitfarms Ends Its Operations in Latin America

Bitfarms has decided to terminate its operations in Bitcoin mining in Latin America. The company has initiated the process of selling its mining site in the Paso Pe region of Paraguay for $30 million.

As part of this sale, Bitfarms will receive an initial payment of $9 million. The remaining $21 million will be collected over the next 10 months based on the specified payment targets.

This agreement follows Bitfarms’ sale of another mining site in Yguazú, Paraguay to Hive Digital Technologies, a Bitcoin mining company, last year.