FTSE 100: Index falls as earnings results weigh; pound below $1.33, Bodycote soars
VANCOUVER/WEST PALM BEACH - AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), a micro-cap technology company with a market value of $3.35 million, 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, according to a press release statement issued Thursday. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value calculation.
The agreement represents the first execution under AgriFORCE’s Power & Compute Initiative and includes the deployment of 315 Bitmain S21 Pro ASIC miners across locations in Berwyn, Oyen, and Hinton. The deployment will be completed in five phases, with the first phase in Berwyn comprising 425 kilowatts of power capacity and 120 mining units.
The all-in power and hosting cost is fixed at $0.065 per kilowatt-hour, excluding consumables and extraordinary repairs. AgriFORCE has submitted a binding deposit for the first two months of hosting and operations at the initial Berwyn site. InvestingPro data reveals the company faces significant financial challenges with a current ratio of 0.34 and negative EBITDA of $5.41 million in the last twelve months. InvestingPro subscribers have access to 20+ additional financial insights about AGRI.
"This project puts our Power & Compute Initiative into action with a modular, environmentally intelligent deployment across high-potential Canadian sites," said Jolie Kahn, CEO of AgriFORCE.
The infrastructure deployment is scheduled for completion within 90 days, with AgriFORCE securing a 90-day exclusivity window and Right of First Refusal on the final two phases in Hinton and future BlueFlare opportunities across Alberta and other regions.
The technology implementation will include BlueFlare’s proprietary platform stack featuring centralized control systems, performance optimization, remote management capabilities, and predictive analytics. The deployment will also utilize BlueFlare’s Carbon Cube system for environmental telemetry and sustainability monitoring.
The parties aim to finalize definitive agreements, including hosting, power, and site lease arrangements, by June 30, with initial on-site work commencing immediately thereafter.
AgriFORCE reaffirmed its commitment to holding all Bitcoin it mines and plans to purchase additional Bitcoin as capital resources permit. While analysts project substantial revenue growth of over 5,000% for the current fiscal year, InvestingPro analysis indicates the company faces challenges with cash burn and debt management. Get real-time updates and detailed financial analysis with an InvestingPro subscription.
In other recent news, AgriForce Growing Systems Ltd. has expanded its Bitcoin mining operations in East Palestine, Ohio, by completing the installation of 500 Bitmain S19j Pro 100T mining machines. This development increases the company’s operational capacity by 50 petahash per second, bringing the total hashrate to 130 PH/s across its Ohio facilities. Concurrently, AgriForce has launched a new division, TerraHash Digital™, dedicated to Bitcoin mining and digital infrastructure solutions, with a focus on energy efficiency and infrastructure innovation. The company is also expanding its heat reuse network across North America, collaborating with Hiveon to optimize agricultural site operations through intelligent, mobile systems. These systems are integrated with the Hiveon Enterprise platform to dynamically manage thermal and energy data. In another significant development, Radical Clean Solutions Ltd. has terminated its asset purchase agreement with AgriForce, citing multiple breaches of contract and has filed a lawsuit seeking damages. Despite these legal proceedings, Radical Clean Solutions remains committed to its core mission of advancing its technology and expanding its distribution network. These recent activities reflect AgriForce’s ongoing efforts in digital energy innovation and infrastructure development.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.