After I got out at around $4.40 last year with a profit of approx. 150% and $BITF (+5,09%) I got back to a decent level and there was some good news today, so the share returned to the growth portfolio today.
Here is the latest news.
Bitfarms exits Latam with the sale of its Paso Pe Bitcoin mining site for up to 30 million dollars
$BITF (+5,09%) announced an exit from Latin America on Friday with a sale of its 70 MW site in Paso Pe, Paraguay, to the Sympatheia Power Fund for up to $30 million.
The Toronto-based energy and digital infrastructure company is expected to receive $9 million in cash upon completion of the transaction and up to $21 million over the next ten months if certain payment milestones are met.
BITF shares were +3.83% to $2.44 pre-market.
Sympatheia, a crypto infrastructure fund managed by Singapore-based Hawksburn Capital, will acquire the shares of the sole subsidiary that holds all operating assets related to bitcoin mining website Paso Pe.
The transaction is expected to close within 60 days.
"I am pleased to announce the strategic sale of our Paso Pe site and the decisive realignment of our energy portfolio to 100% North America," said CEO Ben Gagnon.
