From Bitcoin Mining To AI: What’s Driving BitFarms’ Stock Jump Today?

• As part of the deal, Bitfarms will receive $9 million in cash upon closing, expected in Q1 2026.
• The CEO said the deal brings forward an estimated 2 to 3 years of free cash flow from operations to be reinvested in our North American HPC/AI energy infrastructure in 2026.
• Bitfarms plans to wind down its Bitcoin mining operations by 2027.

Shares of bitcoin miner Bitfarms (BITF) jumped more than 4% in premarket trading on Friday after it announced that it has entered into a definitive share purchase agreement to sell its 70 MW site in Paso Pe, Paraguay, to the Sympatheia Power Fund (SPF), a crypto infrastructure fund managed by Singapore-based Hawksburn Capital.

The deal is valued at $30 million. Bitfarms will receive $9 million in cash upon closing, expected in Q1 2026, and up to $21 million over 10 months following closing, based on certain payment milestones, it stated.

The sale of Paso Pe is the culmination of a series of transactions to completely exit LatAm and refocus the company, its management team, and capital on 100% North American power and infrastructure for HPC/AI.

“This transaction brings forward an estimated two to three years of anticipated free cash flows from operations to be reinvested into our North American HPC/AI energy infrastructure in 2026,” Ben Gagnon, CEO at Bitfarms, said.

Pivot to HPC

Bitfarms’ pivot into high-performance computing (HPC) and AI infrastructure comes at a time when crypto miners are increasingly struggling to make a profit as energy costs climb and Bitcoin has been showing weakness and thus are adapting to changing market conditions.

It’s also not the only company to pivot towards artificial intelligence and high-performance computing. Several firms, including Core Scientific (CORZ), Iren (IREN), Hive Digital (HIVE), and Terawulf (WULF), have also announced similar strategic moves.

Bitfarms plans to wind down its Bitcoin mining operations by 2027, and its transition will begin with its 18-megawatt site in Washington State. The company had said the facility would be converted into a liquid-cooled GPU facility designed for Nvidia’s next-generation GB300s.

As part of its pivot, its CEO had stated that the company is converting its Washington site and other assets to support AI workloads and cloud operations, backed by the company’s recent $588 million financing round. The core of the plan centers on NVIDIA’s next-generation Vera Rubin GPUs, expected to launch in Q4 2026.

How Did Stocktwits Users React?

Retail sentiment around BITF trended in ‘extremely bearish’ territory amid ‘low’ message volumes.

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