AgriFORCE accelerates power & compute initiative in Alberta

WEST PALM BEACH, FL / VANCOUVER, BC - AgriFORCE Growing Systems Ltd. (NASDAQ:AGRI) has accelerated its Power & Compute Initiative in Alberta over the past 90 days, according to a company press release issued Thursday.

The company reported it has mined 8.67 Bitcoin to date, valued at approximately $1.1 million based on recent prices. This follows Bitcoin reaching an all-time high of $123,165 on July 14. While the company shows promising revenue growth potential, with analysts forecasting over 5,000% growth this year, InvestingPro analysis indicates the company is rapidly burning through its cash reserves.

AgriFORCE stated it has executed a letter of intent with BlueFlare Energy for a 1.3 MW modular deployment on June 12 and has brought its Berwyn Phase 1 online with 425 kW capacity using 105 Bitmain units.

The company is utilizing natural gas generators for its mining operations, which it claims provides grid independence and cost optimization. AgriFORCE indicated it plans to complete additional deployments at Oyen and Hinton in Q3.

According to the release, the company is exploring integration of stablecoin infrastructure to streamline digital payments, payroll services, and treasury liquidity. Future plans include launching stablecoin payment systems before year-end and investing in waste heat utilization.

AgriFORCE describes itself as an infrastructure innovator that converts underutilized natural gas into modular computing environments for Bitcoin, AI, and edge computing through its TerraHash Digital division.

In other recent news, AgriFORCE Growing Systems Ltd. has initiated bitcoin mining operations at its Berwyn, Alberta site, marking a significant step in its Power & Compute Initiative. The company has activated a 425 kW energy module, enabling daily bitcoin generation. This site is the first operational location under an agreement with BlueFlare Energy, with plans for expansion to additional sites in Oyen and Hinton, Alberta. Furthermore, AgriFORCE has successfully installed mining equipment at the Oyen site for load testing, as part of its strategy to expand decentralized computing capabilities. The company has mined 7 bitcoin, valued at approximately $750,000, over the past seven months, and aims to allocate up to 50% of capital raised toward bitcoin purchases while retaining 50% of mined bitcoin. AgriFORCE has partnered with BlueFlare Energy Solutions Inc., securing access to over 50 MW of natural gas across Alberta, with a development pipeline expected to exceed 100 MW by 2026. Additionally, AgriFORCE has entered into a binding Letter of Intent with BlueFlare to deploy 1.3 MW of natural gas-powered bitcoin mining infrastructure across five sites in Alberta. The agreement includes deploying 315 Bitmain S21 Pro ASIC miners, with the first phase already underway in Berwyn.

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