AgriFORCE Growing Systems Ltd. Supercharges Growth with Robust Financing, Strategic Acquisitions, and Potential for Unprecedented Operational Excellence
AgriFORCE Growing Systems (NASDAQ: AGRI) has transformed into a fully operational bitcoin mining and agtech company over a 75-day period. The company now operates three strategic sites in Ohio and Alberta with a combined 5 MW capacity, achieving a collective hashrate of 18 PH/s and producing approximately 0.057 BTC per day with 1,120 miners at an energy cost of $0.04 per kWh.
The company recently acquired a 5 MW bitcoin mining facility in Columbiana County, Ohio for $4.5 million, which currently operates over 900 bitcoin mining units with potential expansion to 1,200 units. AgriFORCE has secured the first $7 million tranche of a potential $50 million financing facility from institutional investors to support its expansion plans.
The company has recorded a 600% increase in hashrate since starting operations at its Sturgeon, Alberta facility, with only one outage day since November 30, 2024. AgriFORCE's strategy includes leveraging stranded gas assets while integrating sustainable energy and agricultural growth initiatives.
AgriFORCE Growing Systems (NASDAQ: AGRI) si è trasformata in una compagnia operativa di mining di bitcoin e agtech in un periodo di 75 giorni. L'azienda ora gestisce tre siti strategici in Ohio e Alberta con una capacità combinata di 5 MW, ottenendo un hashrate collettivo di 18 PH/s e producendo circa 0,057 BTC al giorno con 1.120 miner a un costo energetico di $0,04 per kWh.
L'azienda ha recentemente acquisito una struttura di mining di bitcoin da 5 MW nella contea di Columbiana, Ohio, per 4,5 milioni di dollari, che attualmente opera oltre 900 unità di mining di bitcoin con potenziale espansione a 1.200 unità. AgriFORCE ha ottenuto il primo tranche di 7 milioni di dollari di un potenziale finanziamento di 50 milioni di dollari da investitori istituzionali per sostenere i suoi piani di espansione.
L'azienda ha registrato un aumento del 600% nell'hashrate da quando ha avviato le operazioni nella sua struttura di Sturgeon, Alberta, con solo un giorno di inattività dal 30 novembre 2024. La strategia di AgriFORCE include l'uso di asset di gas stranded mentre integra iniziative di energia sostenibile e crescita agricola.
AgriFORCE Growing Systems (NASDAQ: AGRI) se ha transformado en una empresa operativa de minería de bitcoin y agtech en un periodo de 75 días. La compañía ahora opera tres sitios estratégicos en Ohio y Alberta con una capacidad combinada de 5 MW, logrando una tasa de hash colectiva de 18 PH/s y produciendo aproximadamente 0.057 BTC por día con 1,120 mineros a un costo energético de $0.04 por kWh.
La empresa adquirió recientemente una instalación de minería de bitcoin de 5 MW en el condado de Columbiana, Ohio, por 4.5 millones de dólares, que actualmente opera más de 900 unidades de minería de bitcoin con un potencial de expansión a 1,200 unidades. AgriFORCE ha asegurado la primera tranche de 7 millones de dólares de un posible financiamiento de 50 millones de dólares de inversores institucionales para apoyar sus planes de expansión.
La compañía ha registrado un incremento del 600% en la tasa de hash desde que comenzó sus operaciones en su instalación de Sturgeon, Alberta, con solo un día de inactividad desde el 30 de noviembre de 2024. La estrategia de AgriFORCE incluye aprovechar activos de gas no utilizados mientras integra iniciativas de energía sostenible y crecimiento agrícola.
AgriFORCE Growing Systems (NASDAQ: AGRI)는 75일 만에 완전 가동 중인 비트코인 채굴 및 농업 기술 회사로 변화했습니다. 회사는 현재 오하이오와 앨버타에서 세 개의 전략적 사이트를 운영하고 있으며, 총 5MW의 용량을 갖추고 있으며, 집합 해시레이트는 18PH/s에 달하고, 1,120개의 채굴기를 통해 하루에 약 0.057BTC를 생산하고 있습니다. 에너지 비용은 kWh 당 $0.04입니다.
회사는 최근 오하이오 주 컬럼비아나 카운티에 450만 달러에 5MW 비트코인 채굴 시설을 인수했으며, 현재 900개 이상의 비트코인 채굴 유닛이 운영 중이며 1,200개 유닛으로 확장할 잠재력이 있습니다. AgriFORCE는 확장 계획을 지원하기 위해 기관 투자자로부터 5천만 달러 가능성의 자금 조달 시설의 첫 번째 700만 달러 분할을 확보했습니다.
회사는 앨버타 주 스터전 시설에서 운영을 시작한 이후 해시레이트가 600% 증가했으며, 2024년 11월 30일 이후로 단 하루의 중단만 발생했습니다. AgriFORCE의 전략은 가스 자원을 활용하면서 지속 가능한 에너지와 농업 성장 이니셔티브를 통합하는 것입니다.
AgriFORCE Growing Systems (NASDAQ: AGRI) s'est transformée en une entreprise opérationnelle de minage de bitcoin et d'agtech en l'espace de 75 jours. L'entreprise exploite désormais trois sites stratégiques dans l'Ohio et l'Alberta, avec une capacité totale de 5 MW, atteignant un hashrate collectif de 18 PH/s et produisant environ 0,057 BTC par jour avec 1 120 mineurs à un coût énergétique de 0,04 $ par kWh.
Récemment, l'entreprise a acquis une installation de minage de bitcoin de 5 MW dans le comté de Columbiana, Ohio, pour 4,5 millions de dollars, qui exploite actuellement plus de 900 unités de minage de bitcoin avec un potentiel d'expansion à 1 200 unités. AgriFORCE a sécurisé la première tranche de 7 millions de dollars d'une possible facilitation de financement de 50 millions de dollars provenant d'investisseurs institutionnels pour soutenir ses plans d'expansion.
L'entreprise a enregistré une augmentation de 600 % de la hashrate depuis le début de ses opérations dans son installation de Sturgeon, Alberta, n'ayant eu qu'un seul jour d'interruption depuis le 30 novembre 2024. La stratégie d'AgriFORCE consiste à tirer parti des actifs gaziers non utilisés tout en intégrant des initiatives d'énergie durable et de croissance agricole.
AgriFORCE Growing Systems (NASDAQ: AGRI) hat sich innerhalb von 75 Tagen zu einem voll funktionsfähigen Bitcoin-Mining- und Agtech-Unternehmen entwickelt. Das Unternehmen betreibt jetzt drei strategische Standorte in Ohio und Alberta mit einer kombinerten Kapazität von 5 MW, erzielt eine gemeinsame Hashrate von 18 PH/s und produziert mit 1.120 Minern täglich etwa 0,057 BTC zu Energiekosten von 0,04 $ pro kWh.
Das Unternehmen hat kürzlich eine Bitcoin-Mining-Anlage mit 5 MW in Columbiana County, Ohio, für 4,5 Millionen Dollar erworben, die derzeit über 900 Bitcoin-Mining-Einheiten betreibt, mit einer potenziellen Erweiterung auf 1.200 Einheiten. AgriFORCE hat die erste Tranche von 7 Millionen Dollar einer potenziellen Finanzierungsfazilität von 50 Millionen Dollar von institutionellen Anlegern gesichert, um seine Expansionspläne zu unterstützen.
Das Unternehmen hat seit Beginn der Betriebsaufnahme in seiner Anlage in Sturgeon, Alberta, einen Anstieg der Hashrate um 600 % verzeichnet, mit nur einem Ausfalltag seit dem 30. November 2024. Die Strategie von AgriFORCE umfasst die Nutzung ungenutzter Gasressourcen und die Integration nachhaltiger Energie sowie landwirtschaftlicher Wachstumsinitiativen.
- 600% increase in hashrate over 60 days
- Secured $7M initial funding from $50M potential financing facility
- Strategic acquisition of 5 MW facility for $4.5M with immediate cash flow
- Low energy costs at $0.04 per kWh
- High operational efficiency with only 1 outage day since November 2024
- Relatively low daily Bitcoin production at 0.057 BTC
- Significant capital expenditure of $4.5M for facility acquisition
Insights
AgriFORCE's dramatic transformation warrants careful investor scrutiny. The company has executed a rapid pivot into bitcoin mining, establishing 5 MW of capacity across three locations with impressive operational metrics:
- Energy costs of
$0.04 per kWh indicate competitive positioning in the lower quartile of global mining costs - Daily production of 0.057 BTC suggests an annualized revenue potential of approximately
$1.2M at current bitcoin prices - The
$4.5M Ohio facility acquisition at$900k per MW represents an attractive valuation compared to industry averages of$1.2M-1.5M per MW
The secured
Key concerns include: 1) The rapid business model pivot from pure agtech to bitcoin mining may challenge management's expertise 2) Bitcoin mining profitability remains highly dependent on crypto prices and network difficulty 3) The integration of agricultural initiatives with mining operations is untested and may face technical challenges.
AgriFORCE's energy strategy demonstrates remarkable innovation in the bitcoin mining sector. The Columbiana County facility's utilization of natural gas flare energy represents a dual environmental and economic advantage:
- Flare gas mining typically achieves sub-
$0.03 /kWh energy costs, suggesting potential for further operational cost improvements - The integration of waste heat recovery for agricultural applications could create a unique closed-loop system, potentially generating additional revenue streams while reducing environmental impact
- The 99.7% uptime since November indicates exceptional operational efficiency, particularly noteworthy for flare gas operations which typically face more maintenance challenges
The company's 18 PH/s hashrate with 1,120 miners suggests efficient deployment of modern mining equipment, though the specific miner models and their efficiency metrics would be important for long-term competitiveness. The planned expansion to 1,200 units at the Ohio facility indicates room for incremental growth within existing infrastructure.
Vancouver, British Columbia, Feb. 04, 2025 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), a trailblazing technology-driven innovator committed to sustainability and operational excellence, is enthusiastic to comment upon a transformative series of developments. In an explosive 75-day period, the Company has evolved into a fully operational bitcoin mining and agtech company with diversified revenue streams, setting new industry benchmarks for growth and innovation across both Canada and the U.S.
Unmatched Operational and Technological Breakthroughs
AgriFORCE now operates three strategically located sites—two in Ohio and one in Alberta—with a combined installed capacity of 5 MW. The state-of-the-art facilities are delivering solid mining metrics:
- Collective Hashrate: 18 PH/s
- Bitcoin Production: Approximately 0.057 BTC per day
- Miner Count: 1,120
- Energy Cost:
$0.04 per kWh - Unprecedented Uptime: Only 1 outage day recorded since November 30, 2024
This remarkable operational ramp-up has driven a more than
Strategic Acquisitions Powering Future Growth
In a bold, strategic move to amplify its growth trajectory, AgriFORCE acquired an innovatively efficient 5 MW bitcoin mining facility in Columbiana County, Ohio, for
Robust Financing Accelerates Expansion
Highlighting investor confidence and a bright future ahead, AgriFORCE has secured the first tranche of an up to
Jolie Kahn, CEO of AgriFORCE, stated,
“Our rapid growth, marked by a more than
A Vision for Transformative Growth
AgriFORCE’s groundbreaking integration of bitcoin mining with sustainable agricultural practices is setting a new paradigm in the digital asset and environmental sectors. The secured financing gives us the runway to fuel further acquisitions and enable the expansion of operations, ensuring that AgriFORCE has the potential to remain at the forefront of the sustainable digital asset ecosystem.
By harnessing innovative technology and a robust operational framework, AgriFORCE is not only accelerating its growth but also paving the way for a future where profitability potential and sustainability go hand in hand.
About AgriFORCE Growing Systems Ltd.
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) is a forward-thinking technology company dedicated to solving critical challenges in agriculture, sustainability, and environmental stewardship. By leveraging advanced technologies and innovative business models, AgriFORCE aims to deliver value for shareholders while creating lasting benefits for communities and ecosystems.
Follow AgriFORCE on Social Media:
- Twitter: @agriforcegs
- Facebook: AgriFORCE Growing Systems Ltd.
- LinkedIn: AgriFORCE Growing Systems Ltd.
Forward-Looking Statements
Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the use of words such as “may,” “will”, “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company's Period Reports on Forms 10-K and 10-Q, as may be supplemented or amended by the Company's Current Reports on Form 8-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise. No information in this press release should be construed as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.
For more information, visit www.agriforcegs.com.
For media inquiries, please contact:
Richard Wong
CFO
AgriForce Growing Systems Ltd.
1-778-658-0533
rwong@agriforcegs.com
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