Bitfarms successfully completed the sale of its 200 MW Bitcoin mining site in Yguazu, Paraguay, to HIVE Digital Technologies, Ltd., a transaction value at USD 56 million.
This transaction, between two publicly listed companies, involved complex corporate, commercial, regulatory, and tax considerations across Latin America and North America, particularly in the energy, fintech and Bitcoin sectors.
The transaction represents a key milestone in Bitfarms’ strategic repositioning in streamlining its operations and concentrating its resources in North America, where it aims to base the majority of its energy portfolio by the end of 2025. The move accelerates Bitfarms’ transformation from a globally distributed Bitcoin miner into a North American-focused energy and compute infrastructure company.
A Fasken multidisciplinary team led by Kadiatou Sow and composed of Rémi Slama, Martin Legault, Youcef Belrachid and Benjamin Gross advised Bitfarms Ltd. in this sale.
Jurisdiction
- Québec
