Agriculture Firm AgriFORCE Powers 120 Crypto Miners With Natural Gas

     

AgriFORCE says its new site runs on stranded natural gas and powers 120 Bitcoin mining rigs, with plans underway to expand to two more locations in Canada.

Canadian agriculture technology company AgriFORCE Growing Systems Ltd. has kicked off a project to utilize stranded natural gas to operate 120 Bitcoin mining machines, with intentions to grow the initiative further.

The mining facility, based in Berwyn, Alberta, was established in collaboration with energy provider BlueFlare Energy. It delivers 425 kilowatts (kW) of energy to generate 32 petahashes per second (PH/s) of processing capacity, according to AgriFORCE’s Tuesday announcement.

The operation relies on stranded gas — a form of natural gas that is uneconomical or logistically difficult to extract and deliver to market — as its primary power source.

AgriFORCE has also entered into a binding agreement with BlueFlare to develop two more mining sites in the Alberta region, located in Oyen and Hinton. These sites will replicate the setup used at the Berwyn facility.

“We don’t wait for permits or grid upgrades — we convert gas into compute in weeks, not years,” said AgriFORCE CEO Jolie Kahn.

AgriFORCE’s Bitcoin Strategy

AgriFORCE reported it has mined a total of 7 BTC — valued at roughly $735,000 — from its facilities in Alberta and Ohio.

The company stated it may retain up to 50% of its mined Bitcoin in a corporate treasury reserve, while the other portion would support expansion efforts.

It also indicated that as much as half of the capital it raises could be allocated to directly purchase Bitcoin.

AgriFORCE Stock Reaction

Shares of AgriFORCE (AGRI) gained 1.85% on Tuesday, closing the trading day at $1.10. Despite the uptick, the stock has declined over 53% so far this year, according to Google Finance.

For the fiscal year ending in 2024, the company posted a 317% increase in revenue compared to the previous year, alongside a net profit increase of more than 66%.

Renewable Energy Used for Mining

With Bitcoin mining becoming more expensive, companies are increasingly exploring cost-efficient alternatives.

Data from research firm TheMinerMag shows that the average cost to mine one Bitcoin was $64,000 in Q1 2025. That number is expected to rise to $70,000 during the quarter ending June 2025.

Reports earlier this year indicated a decline in miners’ dependence on coal-based energy, with a growing shift toward renewables. Adoption of renewable power in mining is increasing at an annual rate of 5.8%.