Canadian agricultural technology company AgriFORCE Growing Systems Ltd. has started a Bitcoin mining project using stranded natural gas. The firm recently partnered with BlueFlare Energy. Together, they will use wasted energy resources to fuel cryptocurrency mining operations. That’s exactly what the new site—292929.ca—designed to spur conversation about Berwyn, Alberta, launched Tuesday. It consumes 425 kilowatts (kW) to output a staggering 32 petahashes per second (PH/s) of computing power. AgriFORCE has future plans to scale up its Bitcoin mining operations, and the company could use proceeds from its operations to make direct purchases of Bitcoin.

Launch of Alberta Mining Site

The Berwyn, Alberta site will mark AgriFORCE’s debut foray into the controversial industry of cryptocurrency mining. The facility uses stranded natural gas, a resource that is often wasted due to lack of transportation infrastructure. It then uses this gas to power 120 Bitcoin mining rigs. This is how AgriFORCE can take a largely untapped resource and convert it into something truly valuable — clean, renewable energy. In doing so, we help advance a cleaner, smarter energy economy.

The Alberta site already pulls 425 kW with an operating computing power of 32 PH/s. AgriFORCE intentionally selected Alberta as its base of operations due to the province’s abundant resources. The key to the company’s partnership with BlueFlare Energy has been in building this operation.

AgriFORCE’s capacity to rapidly deploy its mining infrastructure distinguishes it from legacy operations.

"We don’t wait for permits or grid upgrades — we convert gas into compute in weeks, not years." - Jolie Kahn, AgriFORCE CEO

Economic Strategy and Bitcoin Treasury

At the same time, AgriFORCE forecasts that the cost to produce one Bitcoin will increase to $70,000. That spike should occur during the quarter ending in June 2025. In the first quarter of this year, it cost $64k to produce a single Bitcoin. This story first appeared on TheMinerMag. Despite these rising costs, the company believes that Bitcoin mining remains a profitable venture, especially when coupled with innovative energy solutions.

The company expects to hold 40% to 50% of mined Bitcoin in its Bitcoin treasury. The rest would be used to finance operational growth.

Second, AgriFORCE has announced it plans to deploy up to 50% of the capital it raises directly into buying Bitcoin. This strategy speaks volumes in showing the company’s absolute belief in Bitcoin’s long-term value. It points toward the opportunity to significantly increase shareholder value.

Sustainable Mining and Future Outlook

AgriFORCE’s initiative fits in with a recent wave of cryptocurrency miners turning to greener energy sources. Few of the old traditional coal-based electricity is continuing to decline, giving way to faster renewable energy adoption at an average of 5.8% per year. By using stranded gas, AgriFORCE has a lower environmental footprint while maximizing the use of resources.

AgriFORCE’s approach removes the necessity of waiting for months-long permit approvals or expensive grid upgrades. This nimbleness makes it easier for the private company to capitalize on emerging opportunities within the fast-moving cryptocurrency market.