Last updated on June 24th, 2025 at 11:08 am
AgriFORCE Growing Systems Ltd., a Canadian agricultural technology company, has kicked off a new venture that converts stranded natural gas into power for Bitcoin mining rigs — a move aimed at reducing energy waste while scaling crypto operations.
The company, in collaboration with energy partner BlueFlare Energy, has activated a mining site in Berwyn, Alberta, housing 120 mining rigs that run on 425 kilowatts (kW) of power and deliver 32 petahashes per second (PH/s) of computing power. The operation harnesses “stranded gas” — a form of natural gas that’s often left unused because it’s either uneconomical to extract or inaccessible with current infrastructure.
In addition to the Berwyn site, AgriFORCE has signed a binding letter of intent with BlueFlare to launch two more gas-powered mining sites in the Alberta towns of Oyen and Hinton. These upcoming sites will mirror the Berwyn blueprint, focusing on the utilisation of stranded gas.
Since beginning its mining operations across Alberta and Ohio, the firm has mined approximately 7 BTC, worth around $735,000 at current prices. AgriFORCE states that it intends to retain up to 50% of its mined Bitcoin in its treasury, with the remaining funds to be used for further expansion. Additionally, the firm may allocate up to half of its raised capital to directly purchase more Bitcoin.
The announcement coincided with a modest market response, with AgriFORCE (AGRI) shares closing up 1.85% on June 17 at $1.10. Despite the uptick, the company’s stock remains down over 53% year-to-date, based on data from Google Finance. Still, AgriFORCE’s financials show promise — with revenue soaring 317% year-over-year and net profits climbing more than 66% in the fiscal year ending 2024.
ALT TXT: AgriFORCE growing systems
Source: GoogleFinance
As Bitcoin mining costs climb — with production expenses per BTC projected to reach $70,000 by the end of Q2 2025 — miners are increasingly pivoting to lower-cost and renewable energy sources. A recent report from TheMinerMag noted that the average mining cost stood at $64,000 in Q1 and is trending upward.
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