The largest player in the mining industry, Bitfarms, announced the sale of its largest facility in Paraguay to Hive Digital Technologies for $85 million. The proceeds from the sale will be used to expand capacity in the United States, including the development of infrastructure for bitcoin mining and artificial intelligence (AI).

The deal includes three payment stages: $25 million immediately, $31 million over six months, and $29 million, including reimbursement of electricity deposits and obligations. The deal is expected to close in the first quarter of 2025.Ben Gagnon, CEO of Bitfarms, noted that the company aims to focus on North America. By the end of 2025, the share of assets in the USA and Canada will be 80%, and international operations will be reduced to 20%.

This step will also help reduce production costs by 10% and reduce bitcoin mining capacity by 21%, which is consistent with the company's diversification strategy.