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VANCOUVER/OYEN - AgriFORCE Growing Systems Ltd. (NASDAQ:AGRI), currently trading at $0.76 and showing concerning financial metrics according to InvestingPro data, announced Wednesday it has successfully installed and commissioned mining equipment at its future Oyen, Alberta site for load testing purposes.
The installation represents progress in the company’s Power & Compute Initiative, following its first decentralized site launch in Berwyn, Alberta. The Oyen location is part of a binding Letter of Intent with BlueFlare Energy Solutions Inc. and is one of two new Alberta sites identified for expansion.
According to the company, the miners will test optimal performance and integration with AgriFORCE’s modular, natural gas-powered compute infrastructure. Full operation of the site will require additional steps including completion of miner acquisitions.
"The commissioning of miners at our Oyen site underscores our commitment to expanding our decentralized computing capabilities," said Jolie Kahn, CEO of AgriFORCE. "By utilizing underused natural gas resources, we not only enhance our operational efficiency but also contribute to our Bitcoin treasury through self-mined BTC."
The development aligns with the company’s strategy focused on Bitcoin treasury accumulation, modular compute infrastructure, and energy-first monetization. AgriFORCE stated the Oyen site development helps establish relationships with gas providers, potentially enabling access to larger sites.
The company indicated it plans to continue growing its fleet of power-efficient mining rigs, leveraging underutilized natural gas, and exploring additional avenues to increase its Bitcoin holdings.
AgriFORCE describes itself as a technology company operating at the intersection of clean energy, digital assets, and infrastructure. The announcement was based on a company press release.
In other recent news, AgriFORCE Growing Systems Ltd. has announced a new strategic framework centered on bitcoin treasury development, modular compute infrastructure, and integration with off-grid energy systems. The company reported that it has mined 7 bitcoin, valued at approximately $750,000, over the past seven months. AgriFORCE plans to allocate up to 50% of its capital towards bitcoin purchases and retain up to 50% of mined bitcoin in long-term reserves. Additionally, AgriFORCE has entered into a binding Letter of Intent with BlueFlare Energy Solutions to deploy 1.3 megawatts of natural gas-powered Bitcoin mining infrastructure across five sites in Alberta, Canada. In another development, Radical Clean Solutions Ltd. terminated its asset purchase agreement with AgriFORCE, citing multiple material breaches of the contract, and has filed a lawsuit seeking damages. AgriFORCE also announced the expansion of its heat reuse network in North America in collaboration with Hiveon, aiming to optimize site-level operations through real-time data utilization. The company continues to focus on diversifying its infrastructure to support AI, edge computing, and data solutions.
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