Bitfarms is selling its Bitcoin mining site in Paraguay.

Bitfarms Ends Operations in Latin America

Bitfarms has made the decision to terminate its operations in Bitcoin mining by withdrawing from Latin America. The company has begun the process of selling its mining site in the Paso Pe region of Paraguay for 30 million dollars.

As part of this sale, Bitfarms will initially receive a payment of 9 million dollars. The remaining 21 million dollars will be collected within the next 10 months according to the set payment milestones.

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