AgriFORCE Announces Evolution of Business Model to Follow Bitcoin Mining Facility Acquisition
AgriFORCE Growing Systems (NASDAQ: AGRI) announces a strategic evolution following its bitcoin mining facility acquisition in Alberta, Canada. The company plans to implement an innovative approach combining cryptocurrency mining with sustainable agriculture. The facility will utilize flare natural gas for power generation, while redirecting waste heat to support aquaculture and controlled environment agriculture.
The integrated system will produce revenue through multiple streams: cryptocurrency mining, Alberta carbon credits, and agricultural products including white-legged shrimp, red seaweed, and micro-greens. The project aims to benefit from Alberta's Carbon Capture Incentive Program while addressing environmental concerns typically associated with crypto mining operations.
AgriFORCE Growing Systems (NASDAQ: AGRI) annuncia un'evoluzione strategica dopo l'acquisizione della sua struttura di mining di bitcoin in Alberta, Canada. L'azienda prevede di attuare un approccio innovativo che combina il mining di criptovalute con l'agricoltura sostenibile. La struttura utilizzerà il gas naturale di flare per la generazione di energia, reindirizzando il calore residuo a supporto dell'acquacoltura e dell'agricoltura in ambiente controllato.
Il sistema integrato genererà ricavi attraverso molteplici flussi: mining di criptovalute, crediti di carbonio dell'Alberta e prodotti agricoli tra cui gamberetti a gambe bianche, alga rossa e micro-verdi. Il progetto mira a beneficiare del Programma di Incentivi per la Cattura del Carbonio dell'Alberta, affrontando al contempo le preoccupazioni ambientali tipicamente associate alle operazioni di mining di criptovalute.
AgriFORCE Growing Systems (NASDAQ: AGRI) anuncia una evolución estratégica tras la adquisición de su instalación de minería de bitcoin en Alberta, Canadá. La compañía planea implementar un enfoque innovador que combina la minería de criptomonedas con la agricultura sostenible. La instalación utilizará gas natural de flare para la generación de energía, redirigiendo el calor residual para apoyar la acuicultura y la agricultura en entornos controlados.
El sistema integrado generará ingresos a través de múltiples fuentes: minería de criptomonedas, créditos de carbono de Alberta y productos agrícolas que incluyen camarones de patas blancas, alga roja y microverdes. El proyecto busca beneficiarse del Programa de Incentivos para Captura de Carbono de Alberta, al mismo tiempo que aborda las preocupaciones ambientales comúnmente asociadas con las operaciones de minería de criptomonedas.
AgriFORCE Growing Systems (NASDAQ: AGRI)은 캐나다 앨버타에 있는 비트코인 채굴 시설 인수에 따른 전략적 발전을 발표했습니다. 이 회사는 암호 화폐 채굴과 지속 가능한 농업을 결합한 혁신적인 접근 방식을 구현할 계획입니다. 이 시설은 전력 생성에 플레어 자연가스를 이용하고, 잉여 열을 재활용하여 수산양식 및 통제된 환경 농업을 지원합니다.
통합 시스템은 여러 수익원을 통해 수익을 창출할 것입니다: 암호 화폐 채굴, 앨버타 탄소 크레딧, 그리고 흰다리 새우, 붉은 해초, 마이크로 그린과 같은 농업 제품. 이 프로젝트는 일반적으로 암호 화폐 채굴 작업과 관련된 환경 문제를 해결하면서 앨버타의 탄소 포집 인센티브 프로그램의 혜택을 받을 계획입니다.
AgriFORCE Growing Systems (NASDAQ: AGRI) annonce une évolution stratégique suite à l'acquisition de sa installation de minage de bitcoin en Alberta, Canada. La société prévoit de mettre en œuvre une approche innovante combinant le minage de cryptomonnaie avec l'agriculture durable. L'installation utilisera du gaz naturel de torchère pour la production d'énergie, tout en redirigeant la chaleur résiduelle pour soutenir l'aquaculture et l'agriculture en environnement contrôlé.
Le système intégré produira des revenus par plusieurs flux : le minage de cryptomonnaies, les crédits carbone de l'Alberta et des produits agricoles tels que les crevettes à pattes blanches, les algues rouges et les micro-pousses. Le projet vise à bénéficier du programme d'incitations à la capture du carbone de l'Alberta tout en abordant les préoccupations environnementales généralement associées aux opérations de minage de cryptomonnaies.
AgriFORCE Growing Systems (NASDAQ: AGRI) kündigt eine strategische Weiterentwicklung nach der Übernahme seiner Bitcoin-Mining-Anlage in Alberta, Kanada, an. Das Unternehmen plant, einen innovativen Ansatz umzusetzen, der Kryptowährungs-Mining mit nachhaltiger Landwirtschaft verbindet. Die Anlage wird Fackelgas zur Energieerzeugung nutzen und Abwärme umleiten, um Aquakultur und kontrollierte Umweltbedingungen in der Landwirtschaft zu unterstützen.
Das integrierte System wird Einnahmen aus mehreren Quellen generieren: Kryptowährungs-Mining, Kohlenstoffgutschriften aus Alberta und landwirtschaftliche Produkte wie weiße Garnelen, rotes Seegras und Mikrogrün. Das Projekt zielt darauf ab, von Alberts Kohlenstoffabscheidungsanreizprogramm zu profitieren und gleichzeitig Umweltbedenken zu adressieren, die typischerweise mit Mining-Betrieben verbunden sind.
- Multiple revenue streams from crypto mining, carbon credits, and agricultural products
- Cost-effective energy source through flare natural gas utilization
- Access to Alberta Carbon Capture Incentive Program benefits
- Environmental impact reduction through waste heat utilization
- Acquisition not yet completed, representing execution risk
- Complex integration of multiple technologies and operations
- Dependency on natural gas prices and crypto market volatility
Insights
This pivot to combine Bitcoin mining with sustainable agriculture represents an innovative but highly experimental business model. The strategy leverages flare gas capture for Bitcoin mining while utilizing waste heat for aquaculture and microgreens production. While the concept shows promise for multiple revenue streams -
- Cryptocurrency mining revenue
- Carbon credits from Alberta's incentive programs
- Agricultural products (shrimp, seaweed, microgreens)
Strategy to reduce environmental impact while producing multiple revenue streams
VANCOUVER, British Columbia, Nov. 20, 2024 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (the “Company”) (NASDAQ: AGRI; AGRIW), an intellectual property (IP) focused technology company, announces the evolution of its business model to follow the closing of its recently announced bitcoin mining facility acquisition.
AgriFORCE CEO Jolie Kahn commented, “As we approach a key milestone in the progression of our growth strategy it is important to clarify how our adoption of an innovative combination of technologies will reduce the environmental impact of data centers while simultaneously producing revenue from high yield agricultural operations. Upon closing we intend to utilize our new data center to leverage energy generated from flare natural gas-powered operations to increase the environmental mitigation and revenue potential of our integrated cogeneration site. Located in Alberta, Canada, at the site of the intended acquisition, we will be testing an integrated and automated onsite carbon sequestering agricultural operation which will reuse the waste energy from the onsite natural gas generator. By adopting this integrated approach, we’re able to reduce our carbon emissions while also contributing to local food security and economic growth.
“Cryptocurrency mining has long been criticized for its energy-intensive nature, with facilities relying heavily on fossil fuels to power the complex computing systems needed for transaction verification and blockchain maintenance. Our initiative seeks to take a more holistic approach to sustainability by capturing carbon in the biomass of micro-greens and waste heat in an aquaculture system thereby leveraging the byproducts of data center operations to support environmentally friendly agricultural systems. The anticipated benefit to the Company will be the creation of new diversified revenue streams supporting our topline mission to build long-term value for all our stakeholders,” concluded Kahn.
While benefiting from Alberta’s strong incentive programs, i.e., the Alberta Carbon Capture Incentive Program, the Company hopes to reuse waste resources to produce profit from cryptocurrency mining, Alberta carbon credits for carbon sequestration and methane reduction, and the sale of premium crops. Upon completion of the acquisition, the Company’s process will capture natural gas flares to generate significant low-cost energy to operate the cryptocurrency mining rigs. The new facility, and any facilities that the Company may acquire moving forward, will capture and redirect heat from miners and the generator to warm an enclosure suitable for growing white-legged shrimp (Penaeus Vannamei), and controlled environment agriculture. The facility will then be utilized to produce a continuous supply of fresh shrimp, red seaweed and micro-greens for local markets and restaurants. Micro-greens are a fast-growing, nutrient-dense crop that requires relatively little space and water to produce commercial yields, while significantly reducing greenhouse gas emissions.
ABOUT AGRIFORCE
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) is a tech company focused on building an integrated platform that combines the best technology, intellectual property, and knowledge to solve an urgent problem – providing the best solutions to help drive value added benefits to our shareholders through use of sustainable technologies. Additional information about AgriFORCE is available at: www.agriforcegs.com.
Follow AgriFORCE on Twitter: @agriforcegs
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Connect with AgriFORCE on LinkedIn: AgriFORCE Growing Systems Ltd.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities of the issuer. Any offer to sell or solicitation of an offer to buy securities of the issuer may only be made pursuant to a valid prospectus pursuant to an effective registration statement or pursuant to a valid exemption from registration under the Securities Act of 1933, as amended and the rules and regulations promulgated thereunder.
Investor Relations:
Richard Wong, CFO
rwong@agriforcegs.com
CORE IR
investorrelations@agriforcegs.com
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