AgriFORCE Growing Systems Ltd. of Canada has developed a program to mine bitcoins using stranded gases.
The AgriFORCE site is located in Berwyn (Alberta) and was created in partnership with BlueFlare Energy. It draws 425 Kilowatts of power for 32 Petahashes Per Second (PH/S). said Tuesday is the day.
Site will utilize so-called “stranded” gas. Stranded natural gas is gas that cannot be sold immediately because the mining of it would be too expensive or if it could not be physically accessed by equipment to be extracted.
AgriFORCE signed an agreement with BlueFlare for the opening of two additional sites in Alberta, in Oyen (Oyen) and Hinton (Hinton), which will be modeled after the Berwyn location.
“We don’t wait for permits or grid upgrades — we convert gas into compute in weeks, not years,” AgriFORCE CEO Jolie Kahn said.
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AgriFORCE’s Bitcoin Strategy
AgriFORCE claims to have already mined seven Bitcoins (BTCThe company’s Alberta and Ohio operations generated approximately $735,000 in revenue.
Canadian company could retain up to half the BTC that it mines, and use the rest for expansion.
It said that it would use as much as 50% of its capital raised to buy Bitcoin directly.
Stock reaction AgriFORCE
AgriFORCE’s (AGRI) shares rose 1.85% to $1.10 on Tuesday. AgriFORCE stock has fallen more than 53% in the past year. according Google Finance
AgriFORCE saw its revenue increase by 317% during the year that ended in 2024. Its net profit also increased over 66%.
Mining with renewable energy
As the mining cost for Bitcoin increases, it is likely that miners will look to alternatives in order to maintain their low costs.
TheMinerMag has released a report on Bitcoin mining. indicates In the first three months of 2018, the production cost for a BTC was at $64,000. This firm anticipates that this cost will increase to $70,000 during the last quarter of 2025.
Early this year, there was a report highlighted The reliance of miners on coal is decreasing, while renewable sources are increasing at a rate of 5,8% per year.
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Source: cointelegraph.com
