AgriFORCE Acquires Bitcoin Mining Facility In Ohio For $4.5 Million: Details

AgriFORCE Growing Systems Ltd. AGRI has acquired a 5 MW bitcoin mining facility located in Columbiana County, Ohio, for $4.5 million in cash.

This acquisition represents a pivotal step in the company’s strategy to integrate sustainable energy solutions, advanced data operations, and agricultural initiatives.

The recently acquired facility operates on 5 MW of natural gas energy and is currently running over 900 bitcoin mining units. It has the capacity to expand to 1,200 units, allowing AgriFORCE to maintain steady revenue while minimizing its environmental footprint.

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“This facility is a testament to our ability to execute on a scalable business model that delivers dual benefits—sustained revenue from cryptocurrency mining and operational cost efficiency from agricultural integration,” said Chairman David Welch.

Future plans involve optimizing operations by utilizing waste heat and implementing carbon capture technology, further supporting sustainable agricultural practices, such as high-quality crop farming and aquaculture systems.

AgriFORCE has completed the first tranche of a $50 million financing agreement with institutional investors. The initial $7 million of this tranche was allocated to fund the purchase of the facility.

With three acquisitions in the past six months, including the Redwater acquisition that also generated immediate cash flow, the company said it is well-positioned to continue executing its strategic business plan.

Price Action: AGRI shares are trading higher by 7.85% at $2.61 at the last check Thursday.

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