AgriFORCE Growing Systems Optimizes Sturgeon, Alberta Facility with New BITMAIN Antiminer S19kPro Miners Amid Favorable Market Dynamics
AgriFORCE Growing Systems (NASDAQ: AGRI) announced the acquisition and upcoming deployment of 220 new BITMAIN Antiminer S19kPro miners at its Sturgeon, Alberta facility, replacing 134 existing miners. This upgrade is expected to triple the facility's hashrate.
The company benefits from Alberta's cold climate, which reduces cooling costs and eliminates the need for immersion cooling. Operating in Alberta provides a 40% discount in foreign currency arbitrage compared to USD purchases, particularly advantageous given the 25% U.S. tariffs on foreign-manufactured mining equipment.
The company cites ongoing negotiations with Alberta representatives and the Trump administration as creating favorable regulatory conditions. COO Barrett Mooney emphasized their focus on asset optimization, while CEO Jolie Kahn highlighted their business model targeting immediate revenue generation through ready-to-produce assets.
AgriFORCE Growing Systems (NASDAQ: AGRI) ha annunciato l'acquisizione e la prossima distribuzione di 220 nuovi miner BITMAIN Antiminer S19kPro presso la sua struttura di Sturgeon, Alberta, sostituendo 134 miner esistenti. Questo aggiornamento dovrebbe triplicare il hashrate della struttura.
La società trae vantaggio dal clima freddo dell'Alberta, che riduce i costi di raffreddamento ed elimina la necessità di raffreddamento a immersione. Operare in Alberta offre uno sconto del 40% nell'arbitraggio di valuta estera rispetto agli acquisti in USD, particolarmente vantaggioso data la tariffa del 25% degli Stati Uniti sulle attrezzature per il mining prodotte all'estero.
La società cita le trattative in corso con i rappresentanti dell'Alberta e l'amministrazione Trump come fattori che creano condizioni normative favorevoli. Il COO Barrett Mooney ha sottolineato il loro focus sull'ottimizzazione degli asset, mentre il CEO Jolie Kahn ha evidenziato il loro modello di business orientato alla generazione immediata di entrate tramite asset pronti per la produzione.
AgriFORCE Growing Systems (NASDAQ: AGRI) anunció la adquisición y próxima implementación de 220 nuevos mineros BITMAIN Antiminer S19kPro en su instalación de Sturgeon, Alberta, reemplazando 134 mineros existentes. Esta actualización se espera que triplique la tasa de hash de la instalación.
La compañía se beneficia del clima frío de Alberta, lo que reduce los costos de enfriamiento y elimina la necesidad de refrigeración por inmersión. Operar en Alberta proporciona un descuento del 40% en el arbitraje de moneda extranjera en comparación con las compras en USD, lo que resulta particularmente ventajoso dada la tarifa del 25% de EE. UU. sobre el equipo de minería fabricado en el extranjero.
La empresa cita las negociaciones en curso con representantes de Alberta y la administración Trump como condiciones regulatorias favorables. El COO Barrett Mooney enfatizó su enfoque en la optimización de activos, mientras que la CEO Jolie Kahn destacó su modelo de negocio orientado a la generación inmediata de ingresos a través de activos listos para producir.
AgriFORCE Growing Systems (NASDAQ: AGRI)는 Alberta 주 Sturgeon에 있는 시설에서 기존의 134개 마이너를 교체하여 220개의 새로운 BITMAIN Antiminer S19kPro 마이너를 인수하고 배치할 것이라고 발표했습니다. 이 업그레이드는 시설의 해시레이트를 세 배로 증가시킬 것으로 예상됩니다.
회사는 Alberta의 추운 기후 덕분에 냉각 비용이 줄어들고 침수 냉각이 필요 없게 됩니다. Alberta에서 운영하는 것은 특히 해외에서 제조된 채굴 장비에 대한 미국의 25% 관세를 고려할 때, USD 구매에 비해 외환 차익 거래에서 40% 할인 혜택을 제공합니다.
회사는 Alberta 대표들과 트럼프 행정부와의 진행 중인 협상이 유리한 규제 조건을 만들어 내고 있다고 언급했습니다. COO인 Barrett Mooney는 자산 최적화에 집중하고 있다고 강조했으며, CEO인 Jolie Kahn은 즉시 수익을 창출하기 위한 자산을 통해 그들의 비즈니스 모델을 강조했습니다.
AgriFORCE Growing Systems (NASDAQ: AGRI) a annoncé l'acquisition et le déploiement imminent de 220 nouveaux mineurs BITMAIN Antiminer S19kPro dans ses installations de Sturgeon, Alberta, remplaçant 134 mineurs existants. Cette mise à niveau devrait triple la puissance de hachage de l'installation.
L'entreprise bénéficie du climat froid de l'Alberta, ce qui réduit les coûts de refroidissement et élimine le besoin de refroidissement par immersion. Opérer en Alberta permet de bénéficier d'un rabais de 40 % sur l'arbitrage de devises étrangères par rapport aux achats en USD, ce qui est particulièrement avantageux compte tenu des droits de douane de 25 % aux États-Unis sur les équipements de mining fabriqués à l'étranger.
La société cite les négociations en cours avec des représentants de l'Alberta et l'administration Trump comme source de conditions réglementaires favorables. Le COO Barrett Mooney a souligné leur attention sur l'optimisation des actifs, tandis que le PDG Jolie Kahn a mis en avant leur modèle économique visant à générer des revenus immédiats grâce à des actifs prêts à produire.
AgriFORCE Growing Systems (NASDAQ: AGRI) gab die Akquisition und bevorstehende Implementierung von 220 neuen BITMAIN Antiminer S19kPro Minern in seiner Anlage in Sturgeon, Alberta, bekannt und ersetzt damit 134 bestehende Miner. Dieses Upgrade wird erwartet, dass es die Hashrate der Anlage verdreifacht.
Das Unternehmen profitiert vom kalten Klima in Alberta, das die Kühlkosten senkt und die Notwendigkeit für Immersionskühlung beseitigt. Der Betrieb in Alberta bietet einen 40% Rabatt beim Devisen-Arbitrage im Vergleich zu USD-Käufen, was besonders vorteilhaft ist, angesichts der 25% US-Zölle auf im Ausland gefertigte Mining-Ausrüstung.
Das Unternehmen führt die laufenden Verhandlungen mit Vertretern von Alberta und der Trump-Administration als Schaffung günstiger regulatorischer Bedingungen an. COO Barrett Mooney betonte ihren Fokus auf die Optimierung von Vermögenswerten, während CEO Jolie Kahn ihr Geschäftsmodell hervorhob, das auf die sofortige Einnahmengenerierung durch bereit zur Produktion verfügbare Vermögenswerte abzielt.
- Facility hashrate expected to triple with new miner deployment
- 40% foreign currency arbitrage advantage on equipment purchases
- Natural cold climate reduces operational costs
- Immunity to grid dependency and power price surge issues
- Significant capital expenditure required for 220 new miners
- Regulatory environment dependent on political negotiations
Insights
The deployment of 220 BITMAIN Antiminer S19kPro miners, replacing 134 older units, marks a strategic pivot that significantly enhances AgriFORCE's competitive position in the digital asset mining sector. The S19kPro series represents BITMAIN's latest generation of miners, known for superior efficiency and performance metrics compared to previous models.
Three key competitive advantages emerge from this strategic move:
- Operational Efficiency: Alberta's cold climate naturally reduces cooling costs, a critical factor considering that cooling typically accounts for 20-30% of mining operations' expenses. This geographical advantage effectively provides a built-in cost reduction mechanism.
- Financial Optimization: The 40% foreign currency arbitrage advantage, combined with avoiding the 25% U.S. tariffs on mining equipment, creates a substantial cost advantage in procurement. This dual benefit significantly improves the return on investment timeline for the new equipment.
- Infrastructure Reliability: Alberta's robust energy infrastructure, developed through decades of oil and gas operations, provides reliable power access - a important factor for maintaining consistent mining operations.
The tripling of hashrate capacity positions AgriFORCE to capture a larger share of mining rewards during a period of increasing network difficulty and rising digital asset values. The timing of this upgrade, coupled with the operational efficiencies, suggests a well-calculated move to optimize profitability in the current market environment.
AgriFORCE's strategic execution reveals a sophisticated approach to market positioning that extends beyond mere operational improvements. The company has effectively created a multi-layered competitive moat through three strategic pillars:
- Geographical Arbitrage: By establishing operations in Alberta, the company capitalizes on natural advantages while maintaining U.S. dollar-denominated revenue streams - a rare combination in the industry.
- Regulatory Navigation: The company's proactive engagement with both provincial and U.S. federal authorities demonstrates foresight in securing a stable operational environment, particularly important given the evolving regulatory landscape for digital asset operations.
- Infrastructure Leverage: The strategic decision to operate in an energy-rich region with established infrastructure significantly reduces capital expenditure requirements and operational risks.
The company's approach to immediate revenue generation through ready-to-produce assets, combined with strategic equipment upgrades, suggests a business model focused on sustainable growth rather than speculative expansion. This methodical approach to scaling operations, while maintaining operational efficiency, positions AgriFORCE favorably for market share capture in the evolving digital asset mining landscape.
Vancouver, British Columbia, Feb. 06, 2025 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), a pioneering technology-driven innovator in sustainable digital asset mining and agricultural solutions, today announced the successful acquisition and near term deployment of 220 new BITMAIN Antiminer S19kPro miners at its Sturgeon, Alberta mining facility. This strategic move, replacing the 134 existing miners, is set to nearly triple the facility’s hashrate, dramatically enhancing operational capacity and profitability.
Strategic Operational Enhancements in Alberta
Operating in Alberta offers AgriFORCE a significant competitive edge. The province’s naturally colder climate minimizes cooling challenges and reduces energy expenses—eliminating the need for costly immersion cooling strategies and ensuring optimal uptime without significant heat or dispatch issues. Coupled with Alberta’s robust oil and gas expertise—often referred to as the “Texas of the North”—the region provides unparalleled opportunity for operational stability and efficiency.
Competitive Market Advantages
AgriFORCE is favorably positioned in the market due to several key factors:
- Favorable U.S. Tariffs: Recent U.S. tariffs of
25% on foreign-manufactured mining equipment have further reinforced the competitive advantage of AgriFORCE’s Alberta operations, where procurement benefits from an in excess of40% discount in foreign currency arbitrage compared to USD purchases. With revenue earned in USD per BTC, these conditions significantly boost the economic efficiency of the facility. - Forward Negotiations with the Trump Administration: We believe that ongoing forward negotiations with Alberta’s representatives and the new Trump administration have created an environment of regulatory certainty and supportive policies, paving the way for future expansion and innovation in the region.
Operational Impact and Future Growth
With the new acquisition, AgriFORCE’s Sturgeon facility is on track to triple its hashrate, positioning the Company to capitalize on increasing digital asset demand while simultaneously benefiting from the cost efficiencies and reliability of operations in a resource-rich, cold climate. Barrett Mooney, COO of AgriFORCE, stated:
“Our growth plan centers on the optimization of our existing assets. The integration of 220 new BITMAIN Antminer S19kPro miners at Sturgeon is a prime example of how we maximize operational efficiency and profitability. Alberta’s naturally cold climate, combined with our strategic financial advantages and a supportive regulatory environment, positions us well ahead of our competitors.”
Jolie Kahn, CEO of AgriFORCE, commented:
“We have a unique business model that targets immediate revenue generation through assets that are ready to produce from day one. By leveraging the operational benefits of Alberta—where lower cooling costs and superior oil and gas expertise create an environment akin to the ‘Texas of the North’—we are able to sidestep grid dependency and avoid operational curtailments during power price surges. Additionally, the recent U.S. tariffs and our advantageous currency arbitrage further enhance our profitability. Our proactive negotiations in the province and with the new Trump Administration’s policies only serve to strengthen our strategic position and fuel our aggressive growth trajectory.”
About AgriFORCE Growing Systems Ltd.
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) is a forward-thinking technology company dedicated to solving critical challenges in digital asset mining, sustainable agriculture, and environmental stewardship. By leveraging advanced technologies, innovative business models, and strategic market positioning, AgriFORCE is committed to delivering long-term value for shareholders while creating lasting benefits for communities and ecosystems. For more information, visit www.agriforcegs.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding anticipated operational performance and future growth. Actual results may differ materially from those projected. Factors that could cause actual results to differ include, among others, market volatility, regulatory changes, and operational risks detailed in AgriFORCE’s filings with the Securities and Exchange Commission. AgriFORCE assumes no obligation to update or revise these forward-looking statements.
For Media Inquiries, Please Contact:
Richard Wong
CFO, AgriFORCE Growing Systems Ltd.
Phone: 1-778-658-0533
Email: rwong@agriforcegs.com
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FAQ
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