AgriForce Growing Systems Provides Update On Bitcoin Mining Operations
AgriForce Growing Systems (NASDAQ: AGRI) has announced significant updates to its Bitcoin mining operations. The company has purchased 500 additional S19j Pro Antminers for its second Ohio site, which will utilize all five MW of available power upon installation completion around May 9, 2025. The two Ohio sites combined will deliver an estimated hash rate of 130 PH/s, marking a 63% increase from current levels.
The company's Alberta facility is operating at full capacity with various ASIC miners, including 81 Bitmain S19k Pro 120T, 50 Bitmain S21 XP 270T, and 120 Bitmain S19j Pro 100T Antminers, delivering a hash rate of 33.62 PH/s. Upon completion, the total hash rate across all three facilities will reach 166.62 PH/s.
The expansion strategy focuses on capitalizing on smaller, economically advantageous opportunities with stranded natural gas as the main power source. The company began its first mining operation during Thanksgiving Weekend 2024 and plans to launch agricultural co-location projects in the coming months.
AgriForce Growing Systems (NASDAQ: AGRI) ha annunciato importanti aggiornamenti sulle sue operazioni di mining di Bitcoin. L'azienda ha acquistato 500 ulteriori Antminer S19j Pro per il suo secondo sito in Ohio, che utilizzerà tutti i cinque MW di potenza disponibile una volta completata l'installazione prevista per il 9 maggio 2025. I due siti in Ohio insieme raggiungeranno una potenza di calcolo stimata di 130 PH/s, con un aumento del 63% rispetto ai livelli attuali.
La struttura in Alberta dell'azienda sta operando a piena capacità con vari miner ASIC, tra cui 81 Bitmain S19k Pro 120T, 50 Bitmain S21 XP 270T e 120 Bitmain S19j Pro 100T Antminer, offrendo una potenza di calcolo di 33,62 PH/s. Al completamento, la potenza di calcolo totale tra tutte e tre le strutture raggiungerà 166,62 PH/s.
La strategia di espansione punta a sfruttare opportunità più piccole ed economicamente vantaggiose utilizzando gas naturale isolato come principale fonte di energia. L'azienda ha avviato la sua prima operazione di mining durante il weekend del Ringraziamento 2024 e prevede di lanciare progetti di co-localizzazione agricola nei prossimi mesi.
AgriForce Growing Systems (NASDAQ: AGRI) ha anunciado importantes actualizaciones en sus operaciones de minería de Bitcoin. La compañía ha adquirido 500 Antminers S19j Pro adicionales para su segundo sitio en Ohio, que utilizará los cinco MW de potencia disponibles una vez que se complete la instalación alrededor del 9 de mayo de 2025. Los dos sitios en Ohio combinados entregarán una tasa de hash estimada de 130 PH/s, lo que representa un aumento del 63% respecto a los niveles actuales.
La planta de Alberta de la compañía está operando a plena capacidad con varios mineros ASIC, incluyendo 81 Bitmain S19k Pro 120T, 50 Bitmain S21 XP 270T y 120 Bitmain S19j Pro 100T Antminers, entregando una tasa de hash de 33,62 PH/s. Al completarse, la tasa de hash total en las tres instalaciones alcanzará los 166,62 PH/s.
La estrategia de expansión se centra en aprovechar oportunidades más pequeñas y económicamente ventajosas utilizando gas natural atrapado como principal fuente de energía. La compañía inició su primera operación minera durante el fin de semana de Acción de Gracias de 2024 y planea lanzar proyectos de co-ubicación agrícola en los próximos meses.
AgriForce Growing Systems (NASDAQ: AGRI)는 비트코인 채굴 사업에 대한 중요한 업데이트를 발표했습니다. 회사는 두 번째 오하이오 채굴 사이트를 위해 500대의 추가 S19j Pro Antminer를 구매했으며, 2025년 5월 9일경 설치 완료 시 가용 전력 5MW 전부를 사용할 예정입니다. 두 오하이오 사이트를 합하면 예상 해시율은 130 PH/s로, 현재 수준에서 63% 증가한 수치입니다.
회사의 앨버타 시설은 81대의 Bitmain S19k Pro 120T, 50대의 Bitmain S21 XP 270T, 120대의 Bitmain S19j Pro 100T Antminer 등 다양한 ASIC 채굴기를 가동하여 33.62 PH/s의 해시율을 기록하며 완전 가동 중입니다. 모든 세 시설의 해시율 합계는 완공 시 166.62 PH/s에 이를 것입니다.
확장 전략은 주로 유휴 천연가스를 전력원으로 활용하는 소규모 경제적 이점을 가진 기회를 최대한 활용하는 데 중점을 두고 있습니다. 회사는 2024년 추수감사절 연휴에 첫 채굴 작업을 시작했으며, 향후 몇 달 내에 농업 공동 위치화 프로젝트를 시작할 계획입니다.
AgriForce Growing Systems (NASDAQ : AGRI) a annoncé des mises à jour importantes concernant ses opérations de minage de Bitcoin. La société a acheté 500 Antminers S19j Pro supplémentaires pour son deuxième site dans l'Ohio, qui utilisera toute la puissance disponible de cinq MW une fois l'installation terminée vers le 9 mai 2025. Les deux sites de l'Ohio combinés offriront un taux de hachage estimé à 130 PH/s, soit une augmentation de 63 % par rapport aux niveaux actuels.
Les installations de la société en Alberta fonctionnent à pleine capacité avec différents mineurs ASIC, dont 81 Bitmain S19k Pro 120T, 50 Bitmain S21 XP 270T et 120 Antminers S19j Pro 100T, fournissant un taux de hachage de 33,62 PH/s. Une fois terminée, la puissance de hachage totale des trois sites atteindra 166,62 PH/s.
La stratégie d'expansion vise à tirer parti d'opportunités plus petites et économiquement avantageuses en utilisant principalement du gaz naturel isolé comme source d'énergie. La société a lancé sa première opération de minage durant le week-end de Thanksgiving 2024 et prévoit de lancer des projets de co-localisation agricole dans les mois à venir.
AgriForce Growing Systems (NASDAQ: AGRI) hat bedeutende Aktualisierungen seiner Bitcoin-Mining-Aktivitäten angekündigt. Das Unternehmen hat 500 zusätzliche S19j Pro Antminer für seinen zweiten Standort in Ohio erworben, der nach Abschluss der Installation um den 9. Mai 2025 herum die volle verfügbare Leistung von fünf MW nutzen wird. Die beiden Standorte in Ohio zusammen werden eine geschätzte Hashrate von 130 PH/s liefern, was einer Steigerung von 63 % gegenüber dem aktuellen Niveau entspricht.
Die Anlage des Unternehmens in Alberta arbeitet mit voller Kapazität und verschiedenen ASIC-Minern, darunter 81 Bitmain S19k Pro 120T, 50 Bitmain S21 XP 270T und 120 Bitmain S19j Pro 100T Antminer, und erzielt eine Hashrate von 33,62 PH/s. Nach Fertigstellung wird die Gesamt-Hashrate aller drei Anlagen 166,62 PH/s erreichen.
Die Expansionsstrategie konzentriert sich darauf, kleinere, wirtschaftlich vorteilhafte Gelegenheiten zu nutzen, wobei hauptsächlich abgeschnittener Erdgas als Energiequelle dient. Das Unternehmen startete seine erste Mining-Operation am Thanksgiving-Wochenende 2024 und plant, in den kommenden Monaten landwirtschaftliche Co-Location-Projekte zu starten.
- Purchase of 500 additional S19j Pro Antminers for full capacity utilization
- 63% hash rate increase expected in Ohio facilities
- Total hash rate will reach 166.62 PH/s across all facilities
- Strategic focus on cost-effective smaller facilities using stranded natural gas
- Heavy reliance on cryptocurrency mining performance for revenue
- Significant power consumption requirements for mining operations
Insights
AgriForce significantly expands Bitcoin mining capacity with 500 new miners, increasing hash rate by 63% while strategically utilizing stranded natural gas for cost efficiency.
AgriForce's operational update reveals a significant expansion of their Bitcoin mining infrastructure with the purchase of 500 additional S19j Pro Antminers. This acquisition will fully utilize the 5 MW power capacity at their second Ohio site, with completion expected by May 9, 2025. The expansion will boost their Ohio facilities' combined hash rate to an estimated 130 PH/s, representing a
Their Alberta facility is already operating at full capacity with an estimated hash rate of 33.62 PH/s, powered by a diverse fleet of ASIC miners including 81 Bitmain S19k Pro 120T, 50 Bitmain S21 XP 270T, and 120 Bitmain S19j Pro 100T Antminers. Upon completing the Ohio installation, AgriForce's total hash rate across all three facilities will reach approximately 166.62 PH/s.
The company's focus on utilizing stranded natural gas as their primary power source represents a strategic advantage in an industry where electricity costs significantly impact operational margins. This approach allows them to target smaller, economically advantageous opportunities that larger mining operations typically overlook. While their current hash rate remains modest compared to industry giants, their rapid expansion since entering the space in November 2024 demonstrates impressive operational execution.
This operational update demonstrates AgriForce's continued execution of their digital infrastructure strategy, having only entered the Bitcoin mining space during Thanksgiving Weekend 2024. The
The company is implementing a differentiated strategy by targeting smaller mining opportunities that "fall below the radar of the big players" in the industry. Their emphasis on stranded natural gas power sources suggests a deliberate approach to securing cost advantages in a competitive market where power expenses typically determine profitability margins.
While specific financial terms of the miner acquisition aren't disclosed, the systematic expansion across multiple facilities indicates management's confidence in the operation's potential returns. Notably, CEO Jolie Kahn emphasizes their team is "dedicated to increasing shareholder value by moving quickly and strategically."
It's worth highlighting that AgriForce maintains its identity as an "ag-tech and digital infrastructure company," with plans to bring "agricultural co-location projects online in the coming months." This suggests Bitcoin mining represents a diversification rather than replacement of their original business model, potentially providing investors exposure to multiple growth vectors. The company's ability to rapidly scale mining operations while continuing to pursue agricultural technology initiatives demonstrates operational flexibility and resource management capabilities.
Vancouver, British Columbia and West Palm Beach, FL, April 22, 2025 (GLOBE NEWSWIRE) -- AgriForce Growing Systems Ltd. (“AgriForce” or the “Company”) (NASDAQ: AGRI), an innovative ag-tech and digital infrastructure company, is pleased to announce milestone operational updates on both its Ohio and Alberta facilities.
As of yesterday, the Company has completed the purchase of 500 additional S19j Pro Antminers which upon completion of installation will fully rack its second Ohio site, with all five MW of available power utilized. Completion of installation and full operation is estimated to occur on or about May 9, 2025. The two Ohio sites, combined, will deliver an estimated total hash rate of 130 PH/s (petahashes per second) an estimated increase of
As previously reported, the Alberta facility is operating at full designed capacity with a robust lineup of industry-leading ASIC miners, including, with an estimated total hash rate of 33.62 PH/s, with 81 Bitmain S19k Pro 120T Antminers, 50 Bitmain S21 XP 270T Antminers and 120 Bitmain S19j Pro 100T Antminers.
The combined total hash rate of all three facilities, upon completion of installation of the machines in Ohio, will be 166.62 PH/s, based on these estimated numbers. The Company continues to explore acquisition of new miners and power opportunities.
This latest expansion is demonstrative of AgriForce’s continued operational gains, which combine opportunistic agility in taking advantage of smaller and well priced situations and as always, trending to be at the forefront of digital asset infrastructure development, leveraging cutting-edge technology and energy-efficient operations to deliver strong, sustainable returns.
“This has been a dynamic and wild ride, given that we energized our first mining opportunity during Thanksgiving Weekend 2024,” said Jolie Kahn, CEO of AgriForce Growing Systems. “We continue to increase our hashrate and available power in a strategic manner, looking for small, economically advantageous opportunities with stranded natural gas as our main driver of power.”
She added “Our team is dedicated to increasing shareholder value by moving quickly and strategically and taking advantage of niche opportunities which help us build a strong foundation. By being able to capitalize upon small facilities, we are able to monetize opportunities which fall below the radar of the big players in our industry. We look forward to bringing our agricultural co-location projects online in the coming months as well as to our continued mining expansion.”
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:
- X: @agriforcegs
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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 Further Information, Please Contact: Investor Relations, 1-561-717-1742
FAQ
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