Bitfarms Enters into a Binding LOI with HIVE Digital Technologies for the Sale of its Yguazu, Paraguay Site
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Bitfarms has entered into a binding letter of intent with HIVE Digital Technologies to sell its Yguazu site in Paraguay for approximately $85 million. The transaction will allow Bitfarms to reinvest in US growth opportunities, reduce 2025 capital requirements, and lower power costs by 10%.
January 28, 2025 | 6:15 am
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Bitfarms is selling its Yguazu site in Paraguay to HIVE Digital Technologies for $85 million. This move will help Bitfarms focus on US growth, reduce 2025 capital requirements, and lower power costs by 10%.
The sale of the Yguazu site allows Bitfarms to reinvest in US growth opportunities, which is likely to be viewed positively by investors. The transaction also reduces future capital requirements and lowers power costs, which could improve profitability.
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