AgriFORCE Growing Systems Secures Acquisition of Bitcoin Mining Facility in Columbiana County, Ohio
AgriFORCE Growing Systems (NASDAQ: AGRI) has acquired a 5 MW bitcoin mining facility in Columbiana County, Ohio for $4.5 million in cash. The facility currently operates over 900 bitcoin mining units with capacity for 1,200 units, powered by natural gas energy from flare gas.
The strategic acquisition aims to integrate sustainable energy solutions with innovative agricultural initiatives. The company plans to enhance operations by repurposing waste heat and implementing carbon capture technology, enabling diversified revenue streams through sustainable agricultural practices, including premium crop cultivation and aquaculture systems.
Chairman David Welch emphasized that the facility demonstrates their ability to execute a scalable business model combining cryptocurrency mining revenue with agricultural operational efficiency.
AgriFORCE Growing Systems (NASDAQ: AGRI) ha acquisito un impianto di mining bitcoin da 5 MW nella contea di Columbiana, Ohio, per 4,5 milioni di dollari in contante. L'impianto attualmente opera con oltre 900 unità di mining bitcoin, con una capacità per 1.200 unità, alimentate da energia naturale proveniente dal gas di fiamma.
L'acquisizione strategica mira a integrare soluzioni energetiche sostenibili con iniziative agricole innovative. L'azienda prevede di migliorare le operazioni riproponendo il calore di scarto e implementando la tecnologia di cattura del carbonio, consentendo così flussi di entrate diversificati attraverso pratiche agricole sostenibili, inclusa la coltivazione di colture di alta qualità e sistemi di acquacoltura.
Il presidente David Welch ha sottolineato che l'impianto dimostra la loro capacità di eseguire un modello di business scalabile che combina le entrate del mining di criptovalute con l'efficienza operativa agricola.
AgriFORCE Growing Systems (NASDAQ: AGRI) ha adquirido una instalación de minería de bitcoin de 5 MW en el condado de Columbiana, Ohio, por 4,5 millones de dólares en efectivo. La instalación actualmente opera más de 900 unidades de minería de bitcoin, con capacidad para 1,200 unidades, alimentadas por energía de gas natural proveniente del gas de antorcha.
La adquisición estratégica tiene como objetivo integrar soluciones de energía sostenible con iniciativas agrícolas innovadoras. La empresa planea mejorar las operaciones reutilizando el calor residual e implementando tecnología de captura de carbono, permitiendo flujos de ingresos diversificados a través de prácticas agrícolas sostenibles, incluyendo el cultivo de cosechas premium y sistemas de acuicultura.
El presidente David Welch enfatizó que la instalación demuestra su capacidad para ejecutar un modelo de negocio escalable que combina los ingresos de minería de criptomonedas con la eficiencia operativa agrícola.
AgriFORCE Growing Systems (NASDAQ: AGRI)는 오하이오주 컬럼비아 카운티에 5 MW 비트코인 채굴 시설을 현금 450만 달러에 인수했습니다. 이 시설은 현재 1,200개의 유닛 용량을 갖춘 900개 이상의 비트코인 채굴 유닛을 운영하며, 플레어 가스에서 발생하는 천연 가스 에너지로 가동됩니다.
전략적 인수는 지속 가능한 에너지 솔루션과 혁신적인 농업 이니셔티브를 통합하는 것을 목표로 하고 있습니다. 회사는 폐열을 재활용하고 탄소 포집 기술을 구현하여 프리미엄 작물 재배 및 수산 양식 시스템을 포함한 지속 가능한 농업 관행을 통해 다각화된 수익원을 창출할 예정입니다.
회장 David Welch는 이 시설이 암호화폐 채굴 수익과 농업 운영 효율성을 결합한 확장 가능한 비즈니스 모델을 실행할 수 있는 능력을 보여준다고 강조했습니다.
AgriFORCE Growing Systems (NASDAQ: AGRI) a acquis la structure de minage bitcoin de 5 MW dans le comté de Columbiana, Ohio, pour 4,5 millions de dollars en espèces. La structure fonctionne actuellement avec plus de 900 unités de minage bitcoin, avec une capacité de 1 200 unités, alimentées par de l'énergie de gaz naturel provenant de gaz de torchère.
L'acquisition stratégique vise à intégrer des solutions d'énergie durable avec des initiatives agricoles innovantes. L'entreprise prévoit d'améliorer ses opérations en réutilisant la chaleur résiduelle et en mettant en œuvre des technologies de capture du carbone, permettant ainsi de diversifier les sources de revenus grâce à des pratiques agricoles durables, y compris la culture de cultures de haute qualité et des systèmes d'aquaculture.
Le président David Welch a souligné que la structure démontre leur capacité à exécuter un modèle commercial évolutif combinant les revenus du minage de cryptomonnaie avec l'efficacité opérationnelle agricole.
AgriFORCE Growing Systems (NASDAQ: AGRI) hat eine 5 MW Bitcoin-Mining-Anlage im Columbiana County, Ohio, für 4,5 Millionen Dollar in bar erworben. Die Anlage betreibt derzeit über 900 Bitcoin-Mining-Einheiten mit einer Kapazität von 1.200 Einheiten, die mit Erdgasenergie aus Abbrandgas betrieben werden.
Die strategische Akquisition zielt darauf ab, nachhaltige Energielösungen mit innovativen landwirtschaftlichen Initiativen zu integrieren. Das Unternehmen plant, die Abläufe zu verbessern, indem es Abwärme wiederverwendet und Technologien zur Kohlenstoffabscheidung implementiert, wodurch diversifizierte Einnahmequellen durch nachhaltige landwirtschaftliche Praktiken, einschließlich der Premium-Kultivierung von Feldfrüchten und Aquakultursystemen, ermöglicht werden.
Der Vorsitzende David Welch betonte, dass die Anlage ihre Fähigkeit demonstriert, ein skalierbares Geschäftsmodell auszuführen, das die Einnahmen aus dem Kryptowährungs-Mining mit der betrieblichen Effizienz in der Landwirtschaft kombiniert.
- Acquisition of operational 5 MW bitcoin mining facility for $4.5M cash
- Current capacity of 900 mining units with potential to scale to 1,200 units
- Utilizes flare natural gas as energy source, reducing environmental impact
- Potential for additional revenue streams through waste heat utilization and agricultural integration
- Significant cash expenditure of $4.5M for the acquisition
- Exposure to volatile cryptocurrency market
- Operating costs associated with natural gas consumption
Insights
This
The facility's current configuration with 900 mining units, expandable to 1,200, presents both opportunities and challenges:
- Revenue Potential: At current bitcoin prices and difficulty rates, a 5 MW facility could generate substantial monthly revenue, though exact figures fluctuate with market conditions
- Operational Efficiency: The use of flare natural gas typically provides
30-50% cost advantages compared to grid electricity prices - Diversification Risk: This represents a significant strategic shift from AGRI's core agricultural technology focus, potentially diluting expertise and resources
The planned integration of waste heat utilization and carbon capture technology for agricultural applications presents a unique hybrid model. However, implementation costs and timeline for these secondary revenue streams remain unclear. The success of this acquisition hinges on three critical factors:
- Execution of the mining-to-agriculture integration strategy
- Management of cryptocurrency market volatility risks
- Ability to maintain operational efficiency while scaling
The facility's energy architecture merits detailed examination:
- The 5 MW natural gas power generation system from flare gas represents a
95%+ reduction in methane emissions compared to direct flaring - Waste heat recovery systems, when implemented, could provide up to
40-60% of the thermal energy required for agricultural operations - Planned carbon capture integration could potentially offset
30-40% of the facility's carbon footprint
The dual-use energy strategy is particularly noteworthy:
- Primary Use: High-efficiency cryptocurrency mining operations
- Secondary Use: Temperature-controlled agricultural environments powered by waste heat
- Tertiary Benefit: Carbon capture for potential carbon credit revenue
This integrated approach to energy utilization could provide AGRI with significant competitive advantages in both operating costs and environmental impact. However, the success of this model depends heavily on efficient implementation of heat recovery systems and careful management of the gas supply chain.
Vancouver, British Columbia, Jan. 23, 2025 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), a leading technology-driven innovator, is pleased to announce the acquisition of a state-of-the-art 5 MW bitcoin mining facility located in Columbiana County, Ohio. Purchased for
Strategic Opportunity with Scalable Growth Potential
Powered by 5 MW of natural gas energy, the facility is currently operational with over 900 bitcoin mining units and has the capacity to scale up to 1,200 units. Utilizing energy derived from flare natural gas, the facility not only generates consistent revenue but also minimizes its environmental footprint. Plans are in place to enhance operations by repurposing waste heat and implementing carbon capture technology, enabling diversified revenue streams through sustainable agricultural practices, such as premium crop cultivation and aquaculture systems.
Driving Efficiency and Sustainability
David Welch, Chairman of AgriFORCE, underscored the strategic advantages of the acquisition:
"This facility is a testament to our ability to execute on a scalable business model that delivers dual benefits—sustained revenue from cryptocurrency mining and operational cost efficiency from agricultural integration. By combining advanced cryptocurrency applications with our groundbreaking agricultural solutions, we are poised to deliver exponential value to our investors while contributing to a sustainable and forward-looking economy. The convergence of memecoin frenzy, regulatory reform, and energy innovation opens unparalleled avenues for growth, and AgriFORCE is ready to lead the charge in this transformative era."
A Vision for Growth and Innovation
Jolie Kahn, CEO of AgriFORCE, highlighted the facility’s transformational potential:
"This acquisition reinforces our leadership in blending advanced technology, environmental sustainability, and agriculture. By utilizing waste energy from natural gas flare-powered generators, the facility represents an innovative approach to reducing environmental impact while driving financial growth through bitcoin mining and integrated agricultural solutions, such as microgreens and aquaculture. It’s a replicable model that optimizes both resource efficiency and profitability, setting a new benchmark for sustainable industry practices."
Kahn added, “As Bitcoin surges to unprecedented all-time highs, fueled by President Trump’s transformation into a crypto advocate and the meteoric rise of $TRUMP coin, we are witnessing what we believe is a pivotal moment in the evolution of digital assets. With the administration’s promise to position the United States as the ‘crypto capital of the planet,’ reduce regulatory barriers, and promote widespread adoption, the crypto market is on the cusp of mainstream integration. At AgriFORCE, we see this as a once-in-a-generation opportunity to align innovative blockchain technologies with our mission of sustainable development.”
Financing Initiatives
As previously disclosed, the Company has also closed on the first tranche of an up to
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
FAQ
How much did AgriFORCE (AGRI) pay for the Ohio bitcoin mining facility?
What is the power capacity of AGRI's new bitcoin mining facility?
How many bitcoin mining units can the AGRI facility accommodate?
What sustainable features does AGRI's new bitcoin mining facility include?
How will AGRI diversify revenue from the bitcoin mining facility?
