Bitfarms Halts Bitcoin Mining in Argentina Amid Power Supply Suspension

Bitfarms has been forced to suspend its Bitcoin mining activities at its facility in Rio Cuarto, Argentina, following an abrupt power cutoff by its local energy supplier.

Bitfarms noted in its earnings report for the first quarter that the power halt, which took effect on May 12, was initiated by Generación Mediterránea S.A. (GMSA), Bitfarms’ electricity provider in Argentina.

The shutdown came less than two weeks after GMSA notified Bitfarms of a pending financial restructuring process with creditors, during which it initially assured continued service to the mining site.

Bitfarms said the interruption has created uncertainty over when or if the power supply will resume. The company is currently assessing its options for the facility. Bitfarms’ Argentina operations contributed $6.9 million in revenue during the first quarter of 2025 — about 10% of Bitfarms’ total revenue of $66.8 million for the period.

“This event has necessitated a pause in the Company’s cryptocurrency mining activities in Argentina and, unless resolved, may significantly impact the operations in that country,” Bitfarms said in the filing.

Bitfarms had previously highlighted the low-cost energy advantages of its Argentina operations. The Rio Cuarto facility has played a notable role in the firm’s global mining footprint, especially amid compressed industry margins.