Bitfarms is selling its Bitcoin mining site in Paraguay.

Bitfarms Ends Operations in Latin America

Bitfarms has decided to terminate its operations in Latin America by withdrawing from Bitcoin mining. The company has initiated 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 over the next 10 months according to specified payment targets.

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