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VANCOUVER - AgriForce Growing Systems Ltd. (NASDAQ: AGRI), a technology and infrastructure company with a market capitalization of $2.59 million, announced the completion of its latest Bitcoin mining expansion in East Palestine, Ohio. According to InvestingPro analysis, the company is currently trading below its Fair Value despite facing significant operational challenges. The final phase involved the installation of 500 Bitmain S19j Pro 100T mining machines, increasing the firm’s operational capacity by 50 petahash per second (PH/s). This addition brings the total hashrate to 130 PH/s across its Ohio facilities.
The installation, which began after the machines were delivered on May 14, 2025, is part of AgriForce’s strategy to scale its Bitcoin mining operations. The company’s CEO, Jolie Kahn, highlighted the efficient execution of the installation process by the team and their Engineering, Procurement, Construction, and Management (EPCM) partners. CFO Chris Polimeni emphasized the importance of this expansion in building operational momentum, as the company aims to surpass one exahash of mining power in the second quarter of 2025.
The Ohio mining facility is designed to manage the 1.475 megawatt (MW) power demand from the new machines, with a total capacity of 2 MW. This setup ensures energy-efficient load balancing, which is in line with AgriForce’s commitment to capital-efficient scaling and sustainable growth. Financial data from InvestingPro indicates the company faces liquidity challenges with a current ratio of 0.34, though analysts project substantial revenue growth of over 5,000% for the current fiscal year.
AgriForce Growing Systems focuses on creating energy-efficient operations within the agriculture, digital infrastructure, and environmental sectors. The company leverages proprietary infrastructure strategies and clean energy assets to drive its growth.
This expansion is a key operational milestone for AgriForce and reflects the company’s continued investment in digital energy innovation. As it progresses towards its next hashrate goal, AgriForce aims to strengthen its position in the Bitcoin mining industry. The stock has experienced significant volatility, declining 88.52% over the past year. Discover more detailed insights and 20+ additional ProTips by subscribing to InvestingPro.
The information in this article is based on a press release statement from AgriForce Growing Systems Ltd.
In other recent news, AgriForce Growing Systems Ltd. has expanded its Bitcoin mining capacity with the addition of 500 Bitmain S19j Pro 100T machines at its Ohio facility, increasing its total operational hashrate in the state to 130 PH/s. This move aligns with the company’s strategy to enhance cost efficiency and scale up its operations. AgriForce has also disclosed preliminary data indicating an average cost of $41,000 to mine one Bitcoin, with variations between its Alberta and Ohio sites. Additionally, the company announced several executive changes, including the resignation of Chief Operating Officer Barrett Mooney, and the issuance of unregistered shares to two executives as part of their compensation.
In financial developments, AgriForce adjusted the conversion price of its January 2025 Debentures to $1.90, deferring an amortization payment to manage debt obligations more effectively. The company also appointed CBIZ CPAs as its new accounting firm following the resignation of Marcum LLP. AgriForce’s recent expansion and financial maneuvers reflect its commitment to strategic growth and operational efficiency in the cryptocurrency mining sector.
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