AGRIForce Reports Milestone Achievement: Over Five Bitcoin Mined from Alberta and Ohio Operations
Rhea-AI Summary
AGRIForce Growing Systems (NASDAQ: AGRI) has announced mining over five Bitcoin from its digital asset mining operations in Alberta and Ohio, generating nearly $500,000 worth of Bitcoin in less than six months. The company has established three operational sites with six megawatts of installed capacity and is finalizing the deployment of 500 additional ASIC miners in Ohio, expected to be operational by next week.
Under CEO Jolie Kahn's leadership, AGRIForce aims to reach its near-term target of one exahash by Q1 2026. The company's success demonstrates its rapid deployment capabilities, operational efficiency, and ability to secure favorable power purchase pricing. This achievement marks AGRIForce's emergence as a significant player in the North American digital asset landscape.
Positive
- Successfully mined 5 Bitcoin worth $500,000 in under 6 months
- Established three operational sites with 6 megawatts capacity
- 500 additional ASIC miners being deployed in Ohio
- Secured favorable power purchase pricing
- On track for Q1 2026 one exahash target
Negative
- Relatively small Bitcoin mining operation compared to industry leaders
- High capital investment requirements for mining infrastructure
- Exposure to Bitcoin price volatility
Insights
AgriForce pivots into Bitcoin mining with modest initial results, targeting aggressive expansion amid uncertain profitability metrics.
AgriForce's entry into cryptocurrency mining represents a notable strategic shift for this NASDAQ-listed company. They've successfully mined over five Bitcoin in under six months, generating approximately
The planned deployment of 500 additional ASIC miners in Ohio signifies a commitment to scaling, but even this expansion would likely represent just a fraction of the capacity needed to reach their stated goal of one exahash by Q1 2026. For perspective, achieving one exahash (one quintillion hash computations per second) would require a massive capital investment in both hardware and infrastructure - potentially tens or hundreds of millions of dollars depending on equipment efficiency.
What's notably absent from this announcement is any mention of mining profitability metrics or operational costs. While they reference \"favorable power purchase pricing,\" actual margins remain undisclosed. In mining operations, electricity typically constitutes
This announcement effectively positions AgriForce as a participant in the digital asset mining sector, potentially to attract cryptocurrency-focused investors. However, their current production of five Bitcoin in six months indicates a relatively modest operation compared to established miners that produce multiple Bitcoin daily. Their ambitious exahash target suggests management sees this as a significant future revenue stream rather than just a complementary business line.
Vancouver, British Columbia and West Palm Beach, FL, May 06, 2025 (GLOBE NEWSWIRE) -- AgriForce Growing Systems Ltd. (“AgriForce” or the “Company”) (NASDAQ: AGRI), a diversified technology and infrastructure company focused on agricultural and digital energy innovation, is pleased to announce that as of May 6, 2025, it has mined over five Bitcoin from its digital asset mining operations in Alberta and Ohio.
In less than six months, AGRIForce has advanced from zero Bitcoin holdings to fully energized operations across three sites totaling six megawatts of installed capacity and has generated nearly
Mining five Bitcoin in under six months is a significant achievement for the Company, demonstrating rapid deployment capabilities as well as operational efficiency. At current market prices, the revenue generated from five BTC is meaningful in terms of not only dollar amount, but also in terms of our ability to almost immediately generate revenue from acquired assets. We have demonstrated our ability to mobilize quickly which validates our efficient infrastructure, successful negotiation of favorable power purchase pricing and utilization of performing equipment. This milestone also presents a tangible benchmark for investors, showcasing our ability to convert capital investment into digital asset production. More significantly, we have confirmed that we are on a credible path toward our near term Q1 2026 one exahash target, reinforcing our position as an emerging player in the North American digital asset landscape.
“We’re proud of the team’s execution in building out and energizing three high-performance sites in a compressed timeline,” said Jolie Kahn, CEO of AGRIForce. “This milestone demonstrates our ability to scale infrastructure rapidly while generating consistent Bitcoin output and positions us strongly for continued growth. Our current strategy is working, and fueled and inspired by this initial success, we plan to continue our acquisition strategy to one exahash and beyond, leveraging our energy-efficient infrastructure and modular deployment strategy to build scalable, high-yield mining operations across North America.”
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
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
How many Bitcoin has AGRI (NASDAQ: AGRI) mined in 2025?
What is AGRIForce's Bitcoin mining capacity in megawatts?
How many ASIC miners is AGRI deploying in Ohio?
What is AGRIForce's Bitcoin mining target for Q1 2026?
Who is the CEO of AGRIForce Growing Systems?
