AgriFORCE Growing Systems Ltd., a Canadian agricultural company, has initiated a project to power 120 Bitcoin mining rigs using stranded gas. Located in Berwyn, Alberta, and in collaboration with BlueFlare Energy, the site generates 425 kilowatts (kW) for 32 petahashes per second (PH/s). Stranded gas refers to natural gas that is not economically viable to extract or is inaccessible. AgriFORCE has also signed an agreement with BlueFlare to establish two additional sites in Oyen and Hinton, following the same model as Berwyn. CEO Jolie Kahn emphasized their ability to convert gas into computing power quickly, without waiting for permits. The company has mined 7 Bitcoin, valued at around $735,000, and plans to retain half for its treasury while using the rest for expansion. Despite a year-to-date stock decline of over 53%, AgriFORCE reported a 317% revenue increase and a 66% rise in net profit for the fiscal year ending 2024. As mining costs rise, the industry is shifting towards renewable energy sources. Read more AI-generated news on: https://app.chaingpt.org/news

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