AgriFORCE Growing Systems Announces Strategic Shift Towards Sustainable Technology Initiatives

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) recently disclosed a significant move towards advancing its sustainable technology initiatives. The company’s latest action includes the signing of a Letter of Intent (LOI) to acquire a Bitcoin mining facility in Alberta, Canada, powered by sustainable energy sources.

The update, highlighted in the Company’s recent release, showcases AgriFORCE’s commitment to sustainable technology opportunities aimed at enhancing long-term shareholder value. According to AgriFORCE CEO Jolie Kahn, the strategic vision is centered on exploring sustainable technology avenues to support the company’s growth trajectory.

Kahn stated, “Our strategic vision remains centered on the pursuit of sustainable technology opportunities that will support the company’s dedication to building long-term shareholder value.” The company plans to allocate 10-20% of its future capital raised to acquire and hold Bitcoin, recognizing the potential of digital currencies in facilitating sustainable financial transactions.

The LOI for the Bitcoin mining facility in Alberta reveals promising power-generation benefits, with the estimated cost of power generated set at four cents Canadian per kWh. The facility, boasting a 1.2 MW capacity, is anticipated to generate immediate cash flow for AgriFORCE. Moreover, AgriFORCE intends to leverage its proprietary technology to set up Controlled Environment Agriculture (CEA) facilities for carbon exhaust capture, contributing to decarbonization efforts and sustainable agriculture.

CEO Kahn emphasized AgriFORCE’s belief in the potential of the crypto industry, particularly Bitcoin, as a means to create valuable assets within the company and bolster financial capital through mining operations. The company aims to use this pilot initiative to showcase the value of its technology in deriving additional value and minimizing the environmental impact of data centers.

The transaction involving the Alberta mining facility is expected to conclude in the upcoming weeks, with AgriFORCE committed to updating shareholders on the progress of this strategic venture and outlining future activities.

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) is a technology company with a strong focus on integrating sustainable technologies to provide value-added benefits to shareholders. More information about AgriFORCE is available on the company’s official website.

The article features forward-looking statements subject to risks and uncertainties, as outlined in the Public Securities Litigation Reform Act of 1995. The company does not undertake any obligation to update these forward-looking statements. This press release is for informational purposes and is not an offer to sell or a solicitation to buy securities of the issuer.

Investor Relations contact:
Richard Wong, CFO
rwong@agriforcegs.com
CORE IR
investorrelations@agriforcegs.com

This article is based on the information contained in AgriFORCE Growing Systems Ltd.’s recent SEC filing and company release.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read AgriFORCE Growing Systems’s 8K filing here.

About AgriFORCE Growing Systems

AgriFORCE Growing Systems Ltd., an agriculture-focused technology company, focuses on the development and commercialization of plant-based ingredients and products that deliver healthier and nutritious solutions. The company operates in two divisions, AgriFORCE Solutions and AgriFORCE Brands. It also offers management advisory services and holds intellectual property, as well as engages in the real estate holding and development activities.