AgriFORCE Growing Systems Optimizes Sturgeon, Alberta Facility with New BITMAIN Antiminer S19kPro Miners Amid Favorable Market Dynamics
07 February 2025 - 3:54AM
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), a pioneering
technology-driven innovator in sustainable digital asset mining and
agricultural solutions, today announced the successful acquisition
and near term deployment of 220 new BITMAIN Antiminer S19kPro
miners at its Sturgeon, Alberta mining facility. This strategic
move, replacing the 134 existing miners, is set to nearly triple
the facility’s hashrate, dramatically enhancing operational
capacity and profitability.
Strategic Operational Enhancements in
Alberta
Operating in Alberta offers AgriFORCE a
significant competitive edge. The province’s naturally colder
climate minimizes cooling challenges and reduces energy
expenses—eliminating the need for costly immersion cooling
strategies and ensuring optimal uptime without significant heat or
dispatch issues. Coupled with Alberta’s robust oil and gas
expertise—often referred to as the “Texas of the North”—the region
provides unparalleled opportunity for operational stability and
efficiency.
Competitive Market
Advantages
AgriFORCE is favorably positioned in the market
due to several key factors:
- Favorable U.S.
Tariffs: Recent U.S. tariffs of 25% on
foreign-manufactured mining equipment have further reinforced the
competitive advantage of AgriFORCE’s Alberta operations, where
procurement benefits from an in excess of 40% discount in foreign
currency arbitrage compared to USD purchases. With revenue earned
in USD per BTC, these conditions significantly boost the economic
efficiency of the facility.
- Forward Negotiations with
the Trump Administration: We believe that ongoing forward
negotiations with Alberta’s representatives and the new Trump
administration have created an environment of regulatory certainty
and supportive policies, paving the way for future expansion and
innovation in the region.
Operational Impact and Future
Growth
With the new acquisition, AgriFORCE’s Sturgeon
facility is on track to triple its hashrate, positioning the
Company to capitalize on increasing digital asset demand while
simultaneously benefiting from the cost efficiencies and
reliability of operations in a resource-rich, cold climate. Barrett
Mooney, COO of AgriFORCE, stated:
“Our growth plan centers on the optimization of
our existing assets. The integration of 220 new BITMAIN Antminer
S19kPro miners at Sturgeon is a prime example of how we maximize
operational efficiency and profitability. Alberta’s naturally cold
climate, combined with our strategic financial advantages and a
supportive regulatory environment, positions us well ahead of our
competitors.”
Jolie Kahn, CEO of AgriFORCE, commented:
“We have a unique business model that targets
immediate revenue generation through assets that are ready to
produce from day one. By leveraging the operational benefits of
Alberta—where lower cooling costs and superior oil and gas
expertise create an environment akin to the ‘Texas of the North’—we
are able to sidestep grid dependency and avoid operational
curtailments during power price surges. Additionally, the recent
U.S. tariffs and our advantageous currency arbitrage further
enhance our profitability. Our proactive negotiations in the
province and with the new Trump Administration’s policies only
serve to strengthen our strategic position and fuel our aggressive
growth trajectory.”
About AgriFORCE Growing Systems
Ltd.
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) is
a forward-thinking technology company dedicated to solving critical
challenges in digital asset mining, sustainable agriculture, and
environmental stewardship. By leveraging advanced technologies,
innovative business models, and strategic market positioning,
AgriFORCE is committed to delivering long-term value for
shareholders while creating lasting benefits for communities and
ecosystems. For more information, visit www.agriforcegs.com.
Forward-Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties, including statements regarding
anticipated operational performance and future growth. Actual
results may differ materially from those projected. Factors that
could cause actual results to differ include, among others, market
volatility, regulatory changes, and operational risks detailed in
AgriFORCE’s filings with the Securities and Exchange Commission.
AgriFORCE assumes no obligation to update or revise these
forward-looking statements.
For Media Inquiries, Please Contact:Richard
WongCFO, AgriFORCE Growing Systems Ltd.Phone: 1-778-658-0533Email:
rwong@agriforcegs.com
Follow AgriFORCE on Social Media:
- X:
@agriforcegs
-
Facebook: AgriFORCE Growing Systems Ltd.
- LinkedIn: AgriFORCE Growing Systems Ltd.
AgriFORCE Growing Systems (NASDAQ:AGRIW)
Historical Stock Chart
From Jan 2025 to Feb 2025
AgriFORCE Growing Systems (NASDAQ:AGRIW)
Historical Stock Chart
From Feb 2024 to Feb 2025