Bitfarms Sells Data Center, Focuses on North American Expansion

Bitfarms Ltd. (BITF) has sold its 200 MW data center, enhancing its North American strategy. The sale reduces capital expenditures and power costs, supporting future growth. Investors may see a positive impact as the company streamlines its operations.

Date: 19-03-2025

AI Rating: 6

Bitfarms Strategic Sale and Financial Outlook

In the recent report, Bitfarms Ltd. (BITF) announced the completion of the sale of its 200 MW data center located in Yguazu, Paraguay. This significant move aligns with the company's strategy to streamline operations and pivot towards a dominant North American market presence.

CEO Ben Gagnon articulated that this sale is a crucial facet of Bitfarms' transition, with expectations to achieve an energy portfolio comprising 80% North American and 20% international by the end of 2025. This strategic shift not only enhances operational efficiency but also optimizes resource allocation.

Financial Benefits and Growth Pipeline

CFO Jeff Lucas emphasized notable financial advantages resulting from this transaction. The planned reduction in capital expenditures for 2025 and a 10% decrease in average power costs could significantly benefit the company's financial health. The proceeds from the sale will be directed towards Bitfarms' expansive 1.1 GW U.S. growth pipeline, which is expected to bolster Bitcoin mining capabilities and develop high-performance computing/artificial intelligence (HPC/AI) infrastructure.

Stocks: BITF