AgriFORCE Growing Systems Ltd. Supercharges Growth with Robust Financing, Strategic Acquisitions, and Potential for Unprecedented Operational Excellence
Rhea-AI Summary
AgriFORCE Growing Systems (NASDAQ: AGRI) has transformed into a fully operational bitcoin mining and agtech company over a 75-day period. The company now operates three strategic sites in Ohio and Alberta with a combined 5 MW capacity, achieving a collective hashrate of 18 PH/s and producing approximately 0.057 BTC per day with 1,120 miners at an energy cost of $0.04 per kWh.
The company recently acquired a 5 MW bitcoin mining facility in Columbiana County, Ohio for $4.5 million, which currently operates over 900 bitcoin mining units with potential expansion to 1,200 units. AgriFORCE has secured the first $7 million tranche of a potential $50 million financing facility from institutional investors to support its expansion plans.
The company has recorded a 600% increase in hashrate since starting operations at its Sturgeon, Alberta facility, with only one outage day since November 30, 2024. AgriFORCE's strategy includes leveraging stranded gas assets while integrating sustainable energy and agricultural growth initiatives.
Positive
- 600% increase in hashrate over 60 days
- Secured $7M initial funding from $50M potential financing facility
- Strategic acquisition of 5 MW facility for $4.5M with immediate cash flow
- Low energy costs at $0.04 per kWh
- High operational efficiency with only 1 outage day since November 2024
Negative
- Relatively low daily Bitcoin production at 0.057 BTC
- Significant capital expenditure of $4.5M for facility acquisition
News Market Reaction
On the day this news was published, AGRI declined 3.70%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia, Feb. 04, 2025 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), a trailblazing technology-driven innovator committed to sustainability and operational excellence, is enthusiastic to comment upon a transformative series of developments. In an explosive 75-day period, the Company has evolved into a fully operational bitcoin mining and agtech company with diversified revenue streams, setting new industry benchmarks for growth and innovation across both Canada and the U.S.
Unmatched Operational and Technological Breakthroughs
AgriFORCE now operates three strategically located sites—two in Ohio and one in Alberta—with a combined installed capacity of 5 MW. The state-of-the-art facilities are delivering solid mining metrics:
- Collective Hashrate: 18 PH/s
- Bitcoin Production: Approximately 0.057 BTC per day
- Miner Count: 1,120
- Energy Cost:
$0.04 per kWh - Unprecedented Uptime: Only 1 outage day recorded since November 30, 2024
This remarkable operational ramp-up has driven a more than
Strategic Acquisitions Powering Future Growth
In a bold, strategic move to amplify its growth trajectory, AgriFORCE acquired an innovatively efficient 5 MW bitcoin mining facility in Columbiana County, Ohio, for
Robust Financing Accelerates Expansion
Highlighting investor confidence and a bright future ahead, AgriFORCE has secured the first tranche of an up to
Jolie Kahn, CEO of AgriFORCE, stated,
“Our rapid growth, marked by a more than
A Vision for Transformative Growth
AgriFORCE’s groundbreaking integration of bitcoin mining with sustainable agricultural practices is setting a new paradigm in the digital asset and environmental sectors. The secured financing gives us the runway to fuel further acquisitions and enable the expansion of operations, ensuring that AgriFORCE has the potential to remain at the forefront of the sustainable digital asset ecosystem.
By harnessing innovative technology and a robust operational framework, AgriFORCE is not only accelerating its growth but also paving the way for a future where profitability potential and sustainability go hand in hand.
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
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FAQ
What is AgriFORCE's (AGRI) current bitcoin mining capacity and hashrate?
How much did AGRI pay for its new Ohio bitcoin mining facility?
What is the size of the financing facility secured by AGRI?
What is AGRI's energy cost per kWh for bitcoin mining operations?
How much has AGRI's hashrate increased since starting operations?
