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Bitfarms | 6-K: Report of foreign private issuer (related to financial reporting)

SEC ·  Mar 21 10:03

Summary by Moomoo AI

Bitfarms has completed the sale of its 200 MW data center in Yguazu, Paraguay to HIVE Digital Technologies for approximately $85 million. The strategic transaction aligns with Bitfarms' shift towards North American operations, with the company projecting its year-end 2025 energy portfolio to be approximately 80% North American and 20% international.The sale is expected to reduce Bitfarms' 2025 capital expenditure requirements and lower average power costs by 10%. The company plans to reinvest the proceeds into its 1.1 GW U.S. growth pipeline, focusing on Bitcoin mining and HPC/AI infrastructure development. This move represents a significant step in Bitfarms' transformation from an international Bitcoin miner to a North American energy and compute infrastructure company.Separately, Bitfarms announced it will report its Q4 and full year 2024 financial results on March 27, 2025, before market opening, followed by a management conference call at 8:00 am EST.
Bitfarms has completed the sale of its 200 MW data center in Yguazu, Paraguay to HIVE Digital Technologies for approximately $85 million. The strategic transaction aligns with Bitfarms' shift towards North American operations, with the company projecting its year-end 2025 energy portfolio to be approximately 80% North American and 20% international.The sale is expected to reduce Bitfarms' 2025 capital expenditure requirements and lower average power costs by 10%. The company plans to reinvest the proceeds into its 1.1 GW U.S. growth pipeline, focusing on Bitcoin mining and HPC/AI infrastructure development. This move represents a significant step in Bitfarms' transformation from an international Bitcoin miner to a North American energy and compute infrastructure company.Separately, Bitfarms announced it will report its Q4 and full year 2024 financial results on March 27, 2025, before market opening, followed by a management conference call at 8:00 am EST.
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