AgriFORCE Growing Systems Ltd., a Canadian agriculture firm, has taken a bold step into the world of cryptocurrency mining. Partnering with BlueFlare Energy, the company has launched a new site in Berwyn, Alberta, that uses stranded natural gas to fuel 120 Bitcoin mining rigs.
This location provides a reliable 32 petahashes per second (PH/s) of processing power while consuming 425 kW. Stranded gas—natural gas that’s uneconomical to extract or transport—now finds a new purpose: powering crypto operations instead of being wasted or flared.
Expanding Quickly Across Alberta
After seeing early success, AgriFORCE has signed a binding letter of intent with BlueFlare to launch two more mining sites in Oyen and Hinton, also in Alberta. These locations will follow the same fast-deployment model, avoiding long wait times for permits or grid connections.
“We don’t sit around waiting for permits or grid upgrades – we turn gas into computing power in just weeks, not years,” shared AgriForce CEO Jolie Kahn.
Bitcoin Mining Strategy
So far, AgriForce has successfully mined 7 Bitcoin, which is worth about $735,000, from its operations in Alberta and Ohio. The company intends to keep up to 50% of its mined Bitcoin in its treasury, while the rest will be used to fuel further expansion. Additionally, AgriFORCE may use half of its capital raised to buy more Bitcoin directly.
Rising Stock and Revenue
AgriForce’s stock (AGRI) saw a 1.85% increase, reaching $1.10 on Tuesday. However, the company has experienced a significant 53% drop in its stock price year-to-date, as reported by Google Finance. Despite this, financial performance has surged: revenue jumped 317% year-over-year, and net profit climbed by more than 66% in fiscal year 2024.
Energy Costs and Bitcoin Mining
As Bitcoin mining grows more expensive—hitting $64,000 per BTC in early 2025 and expected to rise to $70,000—miners are seeking cost-effective energy alternatives. Stranded gas provides a sustainable and affordable option. At the same time, the use of renewable energy in mining continues to grow, increasing by an average of 5.8% per year.
Disclaimer:
This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.
