The agriculture firm AgriFORCE is making waves in the cryptocurrency mining landscape by harnessing stranded natural gas to power 120 Bitcoin mining rigs. Located in Berwyn, Alberta, this innovative site has been developed in collaboration with energy provider BlueFlare Energy, and it marks the beginning of a transformative approach to energy consumption in Bitcoin mining.
Utilizing so-called stranded gas—natural gas that is either too costly or physically difficult to extract—AgriFORCE is able to convert this underutilized resource into computing power. The operational capacity of the Berwyn site reaches 425 kilowatts, delivering an impressive 32 petahashes per second (PH/s) of computing power. This achievement not only aligns with the growing need for sustainable energy sources but also provides a practical solution to Bitcoin miners facing rising operational costs.
AgriFORCE has grand plans for expansion, having signed a letter of intent with BlueFlare to establish two more sites in Alberta, specifically in Oyen and Hinton. This strategy aims to replicate their successful model and further harness stranded gas from these regions. As AgriFORCE CEO Jolie Kahn stated, “We don’t wait for permits or grid upgrades—we convert gas into compute in weeks, not years.” This agile approach positions the company as an innovator in both agriculture and crypto mining.
So far, AgriFORCE has successfully mined 7 Bitcoin (BTC), valued at approximately $735,000, during its operations in Alberta and Ohio. The company plans to reinvest up to 50% of its mined Bitcoin back into its operations, with ambitions to bolster its Bitcoin treasury significantly. Furthermore, as mining costs escalate and the production expense per Bitcoin is projected to reach approximately $70,000 by mid-2025, the reliance on sustainable energy sources becomes increasingly crucial for profitability in the industry.
With the global trend shifting towards renewable energy, AgriFORCE is aligning itself strategically within the market. Reports indicate that the adoption of renewable energy in Bitcoin mining is experiencing consistent growth at an average rate of 5.8% annually. This shift not only presents opportunities for AgriFORCE but also underscores the importance of sustainable practices in the ever-evolving landscape of cryptocurrency mining.
