AgriFORCE Strengthens Sustainability with Alberta Bitcoin Acquisition

Deal News | Dec 03, 2024 | Globenewswire

AgriFORCE Strengthens Sustainability with Alberta Bitcoin Acquisition

AgriFORCE Growing Systems Ltd., a technology-driven company, completed the acquisition of a Bitcoin mining facility in Sturgeon County, Alberta, Canada, for $1.5 million. This facility, powered by natural gas energy, supports over 130 bitcoin mining units with potential scalability. The acquisition aligns with AgriFORCE's strategy of combining sustainable energy, advanced data operations, and innovative agricultural solutions. The facility uses flare natural gas and supports agricultural operations, such as micro-greens and shrimp farming, promoting environmental sustainability and diversified revenue streams. The purchase is part of AgriFORCE's strategy to expand similar models across North America.

Sectors

  • Technology
  • Agriculture
  • Sustainability

Geography

  • Canada – The bitcoin mining facility acquired is located in Sturgeon County, Alberta.

Industry

  • Technology – The article discusses AgriFORCE's acquisition of a Bitcoin mining facility, a sector within technology focusing on cryptocurrency and data operations.
  • Agriculture – AgriFORCE integrates agricultural operations with the Bitcoin mining facility, focusing on innovations like micro-greens and shrimp farming.
  • Sustainability – The acquisition emphasizes sustainable practices by using natural gas energy, reducing environmental impact, and integrating agriculture.

Financials

  • $1.5 million – The purchase price for the bitcoin mining facility in Alberta.

Participants

NameRoleTypeDescription
AgriFORCE Growing Systems Ltd.AcquirerCompanyA technology-driven company focused on sustainable solutions and advancements in agriculture and technology.
Bitcoin Mining FacilityTarget CompanyCompanyA facility in Sturgeon County, Alberta, using flare natural gas energy for bitcoin mining and agricultural operations.
David WelchChairman of AgriFORCEPersonHighlighted the strategic benefits of the acquisition.
Jolie KahnCEO of AgriFORCEPersonDescribed the transformational potential of the acquisition.