AgriForce Growing Systems Announces Completion of Optimization at Sturgeon, Alberta Bitcoin Mining Facility
Rhea-AI Summary
AgriForce Growing Systems (NASDAQ: AGRI) has announced the successful completion of optimization at its Bitcoin mining facility in Sturgeon, Alberta. The facility is now operating at full designed capacity with 251 ASIC miners, including 81 Bitmain S19k Pro 120T, 50 Bitmain S21 XP 270T, and 120 Bitmain S19j Pro 100T Antminers.
The facility achieves a total hash rate of 35.22 PH/s (petahashes per second), broken down as follows:
- 9.72 PH/s from S19k Pro miners
- 13.50 PH/s from S21 XP miners
- 12.00 PH/s from S19j Pro miners
CEO Jolie Kahn highlighted this milestone as a significant advancement in integrating high-efficiency Bitcoin mining into AgriForce's portfolio, with plans to unveil an initial agricultural colocation project.
Positive
- Achieved full operational capacity at Bitcoin mining facility
- Deployed 251 latest-generation ASIC miners
- Reached significant hash rate of 35.22 PH/s
- Diversified mining equipment portfolio with three different miner types
Negative
- No revenue or profitability metrics disclosed
- Mining operation costs and energy efficiency details not provided
Insights
AgriForce's announcement represents a significant operational milestone with the full deployment of their Sturgeon, Alberta Bitcoin mining facility. The reported 35.22 PH/s hashrate positions them as a small but established player in the Bitcoin mining landscape, representing approximately 0.01% of the global Bitcoin network hashrate.
The company has implemented a diversified mining approach with a three-tiered hardware strategy:
- 81 high-efficiency S19k Pro units providing 9.72 PH/s
- 50 cutting-edge S21 XP miners contributing 13.50 PH/s
- 120 standard S19j Pro machines delivering 12.00 PH/s
This hardware mix balances newer, more efficient equipment with established reliable miners. The S21 XP models are particularly noteworthy, offering superior hash-to-energy consumption ratios compared to older generation hardware.
While this optimization completion indicates operational execution capability, the announcement notably lacks critical metrics that would determine profitability: electricity costs, operational expenses, expected Bitcoin production rates, and break-even analysis. The facility's economic viability remains heavily dependent on Bitcoin price movements and local energy costs in Alberta.
For a company traditionally focused on agricultural technology, this expansion represents a meaningful diversification into digital infrastructure. The mention of a forthcoming agricultural colocation project hints at potential synergies between their core business and digital asset operations, though specific integration details remain undisclosed.
AgriForce's completion of its Bitcoin mining facility optimization signals a strategic evolution beyond their traditional agricultural technology focus. This milestone demonstrates operational execution but represents a calculated business diversification rather than a core transformation.
The facility now hosting 251 ASIC miners with varying efficiency profiles indicates a measured approach to digital asset infrastructure. The company appears to be building technological capabilities in cryptocurrency while maintaining their agricultural foundations, as evidenced by the CEO's reference to "integrating high-efficiency Bitcoin mining into our broader portfolio."
Most intriguing is the reference to an upcoming "agricultural colocation project," suggesting AgriForce is working toward creating synergies between digital infrastructure and agricultural technology – potentially leveraging computational power, heat recycling, or energy management systems that benefit both operations.
This dual-track strategy allows AgriForce to:
- Generate potential revenue streams from digital assets while continuing agricultural innovation
- Develop expertise in high-performance computing that might transfer to agricultural applications
- Create energy utilization efficiencies between complementary operations
However, this approach also increases operational complexity and introduces exposure to cryptocurrency volatility. Without financial projections or profitability metrics for this facility, investors lack critical information to evaluate the ROI on this infrastructure investment relative to agricultural technology alternatives. The strategic rationale appears sound, but execution success will depend on effective management across increasingly diverse business segments.
Vancouver, British Columbia and West Palm Beach, FL, April 09, 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 the successful completion of optimization and full operational deployment at its Bitcoin mining facility in Sturgeon, Alberta, Canada.
As of today, the facility is operating at full designed capacity with a robust lineup of industry-leading ASIC miners, including:
- 81 Bitmain S19k Pro 120T Antminers
- 50 Bitmain S21 XP 270T Antminers
- 120 Bitmain S19j Pro 100T Antminers
The facility now delivers an estimated total hash rate of 35.22 PH/s (petahashes per second), calculated as follows:
- 81 x 120 TH/s = 9.72 PH/s
- 50 x 270 TH/s = 13.50 PH/s
- 120 x 100 TH/s = 12.00 PH/s
This diversified fleet of high-performance miners positions AgriForce at the forefront of digital asset infrastructure development, leveraging cutting-edge technology and energy-efficient operations to deliver strong, sustainable returns.
“This milestone marks a significant leap forward for AgriForce as we continue to integrate high-efficiency Bitcoin mining into our broader portfolio,” said Jolie Kahn, CEO of AgriForce Growing Systems. “The completion of optimization at our Sturgeon site enhances our hashpower, improves our cost structure, and advances our strategic goal of building a vertically integrated digital infrastructure platform. We’re deeply grateful to our EPCM partner for their commitment to timely delivery and quality execution. As we further our agricultural pursuits, we also look forward to unveiling our initial agricultural colocation project.”
The Sturgeon facility forms a cornerstone of AgriForce’s digital asset strategy, combining reliable energy infrastructure, strategic geographic location, and advanced mining technology to support scalable growth in 2025 and beyond.
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
- 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 Further Information, Please Contact: Investor Relations, 1-561-717-1742
FAQ
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