Bitfarms to Sell 200 MW Bitcoin Mining Facility in Paraguay to Hive Digital Technologies for $85 Million
Bitfarms, a multinational Bitcoin mining company, has agreed to sell its 200 MW facility in Yguazu, Paraguay to Hive Digital Technologies, a competing mining and AI company, for around $85 million. The proceeds will be reinvested to strengthen Bitfarms' capacity in the US, as the company aims to rebalance its portfolio to 80% North American and 20% international by the end of 2025. The Yguazu farm was Bitfarms' largest Bitcoin mining facility in Paraguay, while its other two mining sites have a combined capacity of 80 MW.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Foundation Shifts Focus Amid Criticism, Eyes Founder-Driven Growth
Ethereum’s leadership appears to be rethinking its strategy following growing criticism from investors and developers, with signs pointing toward a more founder-centric approach and capital formation.
New York Supreme Court to Review Libra Token Scandal as Lawsuit Alleges $100M Investor Fraud
The Supreme Court of New York is set to review the Libra (LIBRA) token scandal following a class-action lawsuit accusing its creators of misleading investors and siphoning over $100 million through deceptive liquidity pools.
Solana Deletes Controversial Ad Following Backlash Over Gender Identity Messaging
Solana removed a controversial advertisement from its official X account on March 18 after facing criticism for handling gender identity and political messaging.
US Minnesota Senator Introduces Bitcoin Bill After Shifting from Skeptic to Supporter
Trending news
MoreCrypto prices
More
