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VANCOUVER - AgriForce Growing Systems Ltd. (NASDAQ: AGRI), an ag-tech and digital infrastructure company with a market capitalization of $1.81 million, announced today the full operational deployment of its optimized Bitcoin mining facility in Sturgeon, Alberta. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics. The site is now functioning at its designed capacity with a total hash rate of 35.22 petahashes per second (PH/s), a significant advancement in the company's digital asset strategy.
The facility's mining arsenal includes 81 Bitmain S19k Pro 120T Antminers, 50 Bitmain S21 XP 270T Antminers, and 120 Bitmain S19j Pro 100T Antminers. This diversified suite of high-performance miners is aimed at positioning AgriForce at the leading edge of digital asset infrastructure development. The company's ambitious expansion comes despite challenging financial metrics, with InvestingPro data showing negative gross margins of -49.73% and a weak overall financial health score.
Jolie Kahn, CEO of AgriForce, stated that the optimization of the Sturgeon site enhances the company's hashpower, improves its cost structure, and advances its strategic goal of building a vertically integrated digital infrastructure platform. Kahn also expressed gratitude to their EPCM partner for their commitment to quality execution and timely delivery.
The Sturgeon facility is a key component of AgriForce's strategy, combining reliable energy infrastructure, strategic geographic location, and advanced mining technology. This setup is expected to support scalable growth for the company in 2025 and beyond.
AgriForce Growing Systems Ltd. is focused on addressing critical challenges in agriculture, sustainability, and environmental stewardship through advanced technologies and innovative business models. While the company trades at an attractive Price-to-Book ratio of 0.27, InvestingPro analysts forecast significant revenue growth of over 14,700% for the current fiscal year. The company's aim is to deliver shareholder value while creating lasting benefits for communities and ecosystems. For deeper insights into AGRI's valuation and growth prospects, including 15+ additional ProTips, visit InvestingPro.
This announcement is based on a press release statement and contains forward-looking statements subject to risks, trends, and uncertainties. AgriForce advises readers not to place undue reliance on these forward-looking statements, which may differ materially from actual results due to various factors. No indication of the company’s future revenues, results of operations, or stock price should be construed from this press release.
In other recent news, AgriFORCE Growing Systems Ltd. has been awarded a U.S. patent for a new crop protection system. This innovation, developed by the company's Radical Clean Solutions division, aims to reduce mold, viruses, and volatile organic compounds in plant cultivation without the use of chemicals. In a significant expansion move, AgriFORCE has also developed three bitcoin mining sites, two in Ohio and one in Alberta, with a combined capacity of 5 megawatts. This expansion has resulted in a 600% increase in the company's hashrate, positioning AgriFORCE as a notable player in the cryptocurrency mining sector. Additionally, the company acquired a 5 MW bitcoin mining facility in Columbiana County, Ohio, for $4.5 million, which aligns with its strategy to integrate sustainable energy into its operations. The facility operates over 900 bitcoin mining units and has the potential for further expansion. AgriFORCE has secured financing of up to $50 million from institutional investors, with an initial $7 million used to fund recent acquisitions. CEO Jolie Kahn expressed confidence in the company’s growth trajectory, emphasizing its innovative approach to integrating sustainable energy and agricultural practices.
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