AgriFORCE Provides Program Update Highlighting the Strategic Advancement of its Sustainable Technology Solutions Initiatives
AgriFORCE Growing Systems (NASDAQ: AGRI) has signed a Letter of Intent to purchase a Bitcoin mining facility in Alberta, Canada, marking its entry into the crypto space. The facility has a 1.2MW capacity and operates on sustainable energy from captured flare gas at an estimated cost of four cents Canadian per kWh. The company plans to use 10-20% of future capital raised to purchase and hold Bitcoin. Additionally, AgriFORCE will implement its proprietary technology to establish CEA facilities for capturing carbon exhaust, aiming to generate value through carbon offsets and agricultural production.
AgriFORCE Growing Systems (NASDAQ: AGRI) ha firmato una Lettera di Intenti per acquistare un impianto di mining di Bitcoin in Alberta, Canada, segnando il suo ingresso nel mondo delle criptovalute. L'impianto ha una capacità di 1,2 MW e funziona con energia sostenibile derivata da gas di fiamma catturato, con un costo stimato di quattro centesimi canadesi per kWh. L'azienda prevede di utilizzare dal 10% al 20% del capitale futuro raccolto per acquistare e detenere Bitcoin. Inoltre, AgriFORCE implementerà la propria tecnologia proprietaria per stabilire impianti CEA per la cattura delle emissioni di carbonio, con l'obiettivo di generare valore attraverso compensazioni di carbonio e produzione agricola.
AgriFORCE Growing Systems (NASDAQ: AGRI) ha firmado una Carta de Intención para comprar una instalación de minería de Bitcoin en Alberta, Canadá, marcando su entrada en el espacio cripto. La instalación tiene una capacidad de 1.2 MW y opera con energía sostenible proveniente de gas de llama capturado a un costo estimado de cuatro centavos canadienses por kWh. La compañía planea usar del 10% al 20% del capital futuro recaudado para comprar y mantener Bitcoin. Además, AgriFORCE implementará su tecnología patentada para establecer instalaciones de CEA para capturar emisiones de carbono, con el objetivo de generar valor a través de compensaciones de carbono y producción agrícola.
AgriFORCE Growing Systems (NASDAQ: AGRI)는 캐나다 앨버타에 있는 비트코인 채굴 시설을 구매하기 위한 양해각서를 체결하며 암호화폐 분야에 진출하게 되었습니다. 이 시설은 1.2MW 용량을 가지고 있으며, 포획된 플레어 가스를 이용한 지속 가능한 에너지로 운영되고 있으며, 예상 비용은 킬로와트시당 4센트 캐나다 달러입니다. 이 회사는 모금한 10-20%의 자본을 향후 비트코인을 구매하고 보유하는 데 사용할 계획입니다. 또한 AgriFORCE는 이산화탄소 배출을 포집하기 위해 CEA 시설을 구축하기 위해 독자적인 기술을 구현할 예정이며, 이를 통해 탄소 상쇄 및 농업 생산을 통해 가치를 창출하는 것을 목표로 하고 있습니다.
AgriFORCE Growing Systems (NASDAQ: AGRI) a signé une Lettre d'Intention pour acheter une installation de minage de Bitcoin en Alberta, au Canada, marquant son entrée dans le domaine des cryptomonnaies. L'installation a une capacité de 1,2 MW et fonctionne avec de l'énergie durable issue du gaz de torchère capturé, avec un coût estimé à quatre cents canadiens par kWh. La société prévoit d'utiliser 10 à 20 % du capital futur levé pour acheter et conserver du Bitcoin. De plus, AgriFORCE mettra en œuvre sa technologie propriétaire pour établir des installations CEA afin de capturer les émissions de carbone, dans le but de générer de la valeur par le biais de compensations de carbone et de production agricole.
AgriFORCE Growing Systems (NASDAQ: AGRI) hat ein Absichtserklärung unterzeichnet, um eine Bitcoin-Mining-Anlage in Alberta, Kanada, zu kaufen, was den Eintritt in den Kryptobereich markiert. Die Anlage hat eine Kapazität von 1,2 MW und arbeitet mit nachhaltiger Energie aus aufgefangenem Flare-Gas zu geschätzten Kosten von vier kanadischen Cent pro kWh. Das Unternehmen plant, 10-20% des zukünftigen Kapitals, das gesammelt wird, zu verwenden, um Bitcoin zu kaufen und zu halten. Darüber hinaus wird AgriFORCE seine proprietäre Technologie einsetzen, um CEA-Anlagen zur Abscheidung von Kohlenstoffemissionen einzurichten, mit dem Ziel, Wert durch Kohlenstoffausgleich und landwirtschaftliche Produktion zu generieren.
- Expansion into Bitcoin mining with potential immediate cash flow generation
- Low power costs at $0.04 CAD/kWh from sustainable energy sources
- Potential additional revenue streams from carbon offsets and agricultural production
- Strategic diversification into cryptocurrency assets
- Significant capital allocation required for Bitcoin purchases (10-20% of future raises)
- Transaction not yet completed, only LOI stage
- Exposure to volatile cryptocurrency market
Insights
This Bitcoin mining facility acquisition marks a significant strategic pivot for AgriFORCE, though with considerable execution risks. The 1.2MW capacity facility with
The integration of their controlled environment agriculture (CEA) technology for carbon capture creates an interesting sustainability angle, potentially generating additional revenue through carbon credits. However, with a market cap under
Letter of Intent signed to purchase Alberta, Canada Bitcoin mining facility with 1.2MW capacity and significant opportunity to capture carbon offsets
VANCOUVER, British Columbia, Nov. 13, 2024 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (the “Company”) (NASDAQ: AGRI), an intellectual property focused technology company, provides an update to shareholders highlighting the Company’s ongoing strategic shift toward advancement of its sustainable technology initiatives and its signing of a Letter of Intent (“LOI”) to purchase a Bitcoin mining facility in Alberta, Canada, powered by sustainable energy.
AgriFORCE CEO Jolie Kahn stated, “Our strategic vision remains centered on the pursuit of sustainable technology opportunities that will support the company’s dedication to building long-term shareholder value. To this end, we announce the next phase of our transition, highlighted by the integration of Bitcoin mining solutions and the ancillary environmental and power-generation benefits that result from engaging in that business. We recognize the potential of Bitcoin and other digital currencies in facilitating sustainable financial transactions and intend to utilize 10
“Relying upon my experience as general counsel to a recognized Bitcoin mining company and of other team members in this industry, this is our first foray in the crypto space. We have entered into an LOI and paid an initial deposit to purchase a mining facility in Alberta, Canada, with the cost of power generated from captured flare gas estimated at four cents Canadian per kWh. The site has the capacity for 1.2 MW, which we believe will provide the opportunity to generate immediate cash flow for the Company In addition, we will be using our proprietary technology to set up CEA facilities to capture carbon exhaust to decarbonize and use for sustainable agriculture that we believe will provide further value via carbon offsets and credits and agricultural production.
“We believe that the crypto industry, Bitcoin in particular, provides an opportunity to create valuable assets within the Company, additional financial capital wherewithal as Bitcoin are mined and applied to our balance sheet, and, as we are doing in this pilot, the opportunity to demonstrate the value of our in-house technology to derive additional value and mitigate the environmental effects of data centers. We expect this transaction to be complete in the coming weeks and look forward to providing additional updates to our progress on this aspect of our strategy, as well as future activities,” concluded Kahn.
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.
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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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