Vancouver-based agtech company AgriFORCE Growing Systems has acquired a bitcoin mining facility in Sturgeon County, Alberta.
AgriFORCE provides consulting and research and development services as well as technology solutions to help its customers address agriculture and sustainability challenges. The company acquired its new bitcoin mining facility for $1.5 million in cash. Its natural gas-powered operations support 130 bitcoin mining units, but it has the capacity to accommodate as many as 250 units, according to a news release.
AgriFORCE expects the acquisition to drive continued financial growth while also reinforcing its commitment to reduced environmental impact by relying on natural gas energy. Plans are in the works for the company to acquire similar facilities in other North American locations.
“This acquisition is a game-changer, establishing AgriFORCE as a leader at the intersection of technology, sustainability and agriculture. By repurposing waste energy from flare gas-powered generators, the facility reduces environmental impact and drives multiple revenue streams, including bitcoin mining and agricultural operations such as micro-greens, red seaweed and white-legged shrimp farming,” AgriFORCE CEO Jolie Kahn said in a statement.
