Bitfarms has agreed to divest its Paso Pe mining facility in Paraguay for up to $30 million, marking the company’s complete withdrawal from Latin America. This strategic exit is part of a broader pivot, as the Canadian crypto miner redirects capital toward developing high-performance computing and artificial intelligence infrastructure in North America, a move driven by shifting economics in Bitcoin mining and growing demand for AI capacity.
about Bitfarms Sells Paraguay Mining Site for $30M, Exits Latin America
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Generated 0 posts last week Hive Stock Soars on Record Revenue, Dell AI Deal
Hive Digital Technologies defied broader crypto market weakness on Monday, with its stock climbing 7.5% following blockbuster quarterly earnings and a strategic AI partnership with Dell Technologies. The Bitcoin miner reported record fiscal Q2 revenue of $87.3 million—a staggering 285% year-over-year increase—while simultaneously expanding its high-performance computing business through a major GPU deployment deal, signaling the company’s successful diversification beyond cryptocurrency mining.
about Hive Stock Soars on Record Revenue, Dell AI DealFake Paraguay Bitcoin Tweet Sparks 4% Price Spike
On June 10, 2025, a fraudulent post from Paraguayan President Santiago Peña’s verified X account claimed Bitcoin had been approved as legal tender, including a $5M BTC reserve and bond access for crypto-enabled citizens. The tweet, which included a wallet address for staking, triggered a brief 4% Bitcoin price spike before being debunked and deleted. The incident highlights the crypto market’s vulnerability to misinformation from high-profile accounts.
about Fake Paraguay Bitcoin Tweet Sparks 4% Price SpikeParaguay Denies Bitcoin Reserve Announcement as Hack
The Paraguayan government quickly refuted a tweet from President Santiago Peña’s X account announcing Bitcoin as legal tender and a $5 million reserve, labeling it a hack. The post included a Bitcoin address, likely part of a scam to lure investors. This incident follows a pattern of high-profile account hacks promoting crypto scams, including past breaches involving Indian Supreme Court’s YouTube and X accounts of celebrities like Elon Musk. While Paraguay is Bitcoin-friendly with crypto mining operations, only El Salvador in the region has adopted Bitcoin as legal tender, despite IMF objections.
about Paraguay Denies Bitcoin Reserve Announcement as HackParaguay Denies Bitcoin Legal Tender Announcement
A social media post by Paraguay’s President Santiago Peña initially declared Bitcoin as legal tender, accompanied by claims of a $5 million BTC reserve and a wallet address for investors. However, the official government account swiftly contradicted this, urging the public to dismiss unverified content. The conflicting messages highlight the volatility of crypto policy announcements and raise questions about Paraguay’s regulatory direction. The incident underscores the need for clear, official communication in the rapidly evolving cryptocurrency landscape.
about Paraguay Denies Bitcoin Legal Tender AnnouncementParaguay Debunks Bitcoin Legal Tender Hoax After X Hack
The Paraguayan government confirmed that President Santiago Peña’s verified X account was hacked, leading to an unauthorized post falsely declaring Bitcoin (BTC) as legal tender starting June 9. The fraudulent message included claims of a $5 million BTC treasury reserve and crypto bond offerings. The presidency swiftly debunked the hoax, stating no such policy exists, and launched an investigation with CERTPY and X to address the breach. The hacked post, which featured a Bitcoin address (receiving no funds), was removed, and officials urged the public to disregard it. Paraguay has not adopted Bitcoin as legal tender and will announce any policy changes through official channels.
about Paraguay Debunks Bitcoin Legal Tender Hoax After X HackChina Immigrants Deported for Crypto Mining Theft in Paraguay
Paraguayan authorities have deported three undocumented Chinese immigrants and arrested another for attempting to steal crypto mining machines from a Teratech SA facility near the Itaipu hydroelectric dam. The suspects were caught by police after breaking into a locked section of the mining operation in Coronel Bogado. Prosecutors, led by Irene Rolón, are investigating potential connections between the men and Teratech as independent contractors, though official confirmation from the company is pending. The incident highlights security risks in crypto mining operations, especially in regions with cheap electricity like Paraguay.
about China Immigrants Deported for Crypto Mining Theft in ParaguayParaguay Thwarts Crypto Mining Heist, Deports Suspects
Authorities in Paraguay foiled an attempted robbery at a crypto mining operation in Coronel Bogado, arresting one suspect and deporting three others. The group, all Chinese nationals, allegedly gained unauthorized access to the facility’s servers and entered Paraguay illegally via Bolivia and Brazil. Investigators suspect the heist was part of a broader pattern targeting high-value electronic equipment. The arrested individual was hospitalized but later stabilized, though his motives remain unclear. The employer claimed the suspects were programmers, but lacked proper documentation, prompting further scrutiny. Interpol and immigration authorities are coordinating to track additional suspects, while the legal status of the individuals’ employment is under review.
about Paraguay Thwarts Crypto Mining Heist, Deports SuspectsHive Digital Bets on Paraguay for Long-Term Crypto Mining
Hive Digital Technologies CEO Aydin Kilic emphasizes Paraguay’s advantages—low-cost hydro energy, geopolitical stability, and openness to foreign investment—as key reasons for the company’s long-term commitment. Despite geopolitical tensions driving some miners back to the US, Hive acquired Bitfarms’ 200 MW Yguazú facility for $56 million, completing phase one infrastructure in April. The move supports 5 EH/s of ASIC mining, reinforcing Hive’s strategic bet on Latin America’s crypto potential.
about Hive Digital Bets on Paraguay for Long-Term Crypto Mining