AgriFORCE Growing Systems (AGRI) announced the acquisition of a 5 MW bitcoin mining facility located in Columbiana County, Ohio purchased for $4.5M in cash. Powered by 5 MW of natural gas energy, the facility is currently operational with over 900 bitcoin mining units and has the capacity to scale up to 1,200 units. Utilizing energy derived from flare natural gas, the facility not only generates consistent revenue but also minimizes its environmental footprint. Plans are in place to enhance operations by repurposing waste heat and implementing carbon capture technology, enabling diversified revenue streams through sustainable agricultural practices, such as premium crop cultivation and aquaculture systems. As previously disclosed, the Company has also closed on the first tranche of an up to $50M financing facility with institutional investors. The company utilized a portion of the first $7M tranche to pay for the acquisition of the assets.
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