AgriFORCE Growing Systems .(AGRI)

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AGRIForce Reports Milestone Achievement: Over Five Bitcoin Mined from Alberta and Ohio Operations
Globenewswire· 2025-05-06 16:20
Core Insights - AgriForce Growing Systems Ltd. has successfully mined over five Bitcoin in less than six months, showcasing rapid deployment and operational efficiency [1][2][3] - The company has generated nearly $500,000 worth of Bitcoin from its mining operations, indicating a strong revenue generation capability from digital assets [2][3] - AgriForce is finalizing the deployment of 500 additional ASIC miners in Ohio, which is expected to enhance site optimization and operational capacity [2][4] Company Performance - The achievement of mining five Bitcoin demonstrates the company's ability to quickly mobilize resources and convert capital investment into digital asset production [3][4] - The company has established three high-performance mining sites with a total installed capacity of six megawatts, reinforcing its position in the North American digital asset landscape [2][3] - AgriForce aims to reach a target of one exahash by Q1 2026, indicating a strategic focus on scaling its operations and increasing Bitcoin output [3][4] Strategic Direction - The company plans to continue its acquisition strategy to expand its mining operations, leveraging energy-efficient infrastructure and modular deployment [4] - AgriForce's current strategy has proven effective, positioning the company for sustained growth in the digital asset sector [4] - The focus on building scalable, high-yield mining operations across North America reflects the company's commitment to innovation and efficiency in the digital energy space [4][5]
Global Agriculture Drones Market Projected to Reach $8.03 Billion By 2029 with Significant Growth Still Expected
Newsfilter· 2025-04-24 12:30
Industry Overview - The global agriculture drones market is projected to grow from $2.01 billion in 2024 to $8.03 billion by 2029, indicating significant growth potential driven by the adoption of aerial data collection tools in agriculture [1] - The cereals and grains segment is experiencing substantial growth, with drones playing a crucial role in optimizing yields through aerial surveys, crop health monitoring, and soil condition assessments [2] - The overall agriculture drone market is expected to grow from $6.10 billion in 2024 to $23.78 billion by 2032, at a CAGR of 18.5%, fueled by demand for precision agriculture and advancements in drone technology [4] Company Developments - ZenaTech, Inc. has received FAA Part 137 approval for its ZenaDrone 1000, allowing it to conduct commercial agricultural operations, including crop spraying and precision agriculture [2][3] - ZenaTech plans to utilize a Drone as a Service (DaaS) model to sell its solutions, targeting larger commercial farms and agribusinesses [2] - Unusual Machines, Inc. reported a fourth-quarter revenue of over $2.0 million, marking a 31% increase quarter-over-quarter, with total revenue for FY2024 reaching $5.65 million, exceeding its target by 13% [11] Technological Advancements - The ZenaDrone 1000 features advanced technology, including AI, sensors, and purpose-built attachments for crop spraying, designed for stable flight and heavy lift capabilities [5][6] - Sidus Space has unveiled a near real-time vessel detection and classification capability through its LizzieSat® satellite platform, enhancing space-based maritime intelligence [12][13] - AgriFORCE Growing Systems Ltd. has made progress in its Radical Clean Solutions division, receiving a U.S. patent for a chemical-free solution to reduce mold and extend the shelf life of produce [14][15][16]
AgriForce Growing Systems Provides Update On Bitcoin Mining Operations
Globenewswire· 2025-04-22 12:00
She added "Our team is dedicated to increasing shareholder value by moving quickly and strategically and taking advantage of niche opportunities which help us build a strong foundation. By being able to capitalize upon small facilities, we are able to monetize opportunities which fall below the radar of the big players in our industry. We look forward to bringing our agricultural co-location projects online in the coming months as well as to our continued mining expansion." Vancouver, British Columbia and W ...
AgriForce Growing Systems Announces Completion of Optimization at Sturgeon, Alberta Bitcoin Mining Facility
Newsfilter· 2025-04-09 12:00
Core Insights - AgriForce Growing Systems Ltd. has successfully completed optimization and full operational deployment at its Bitcoin mining facility in Sturgeon, Alberta, Canada, achieving a total hash rate of 35.22 PH/s [1][2] - The facility utilizes a diversified fleet of high-performance ASIC miners, which positions the company at the forefront of digital asset infrastructure development [1][2] - The completion of optimization enhances AgriForce's hashpower, improves cost structure, and supports its strategic goal of building a vertically integrated digital infrastructure platform [2] Company Overview - AgriForce Growing Systems Ltd. is a technology company focused on addressing critical challenges in agriculture, sustainability, and environmental stewardship through advanced technologies and innovative business models [3] - The company aims to deliver value for shareholders while creating lasting benefits for communities and ecosystems [3] Mining Facility Details - The Sturgeon facility is a cornerstone of AgriForce's digital asset strategy, combining reliable energy infrastructure, strategic geographic location, and advanced mining technology [2] - The facility's mining fleet includes: - 81 Bitmain S19k Pro 120T Antminers contributing 9.72 PH/s - 50 Bitmain S21 XP 270T Antminers contributing 13.50 PH/s - 120 Bitmain S19j Pro 100T Antminers contributing 12.00 PH/s [5]
AgriFORCE Growing Systems .(AGRI) - 2024 Q4 - Annual Report
2025-04-07 18:56
Acquisitions and Investments - The company has completed two acquisitions in the Bitcoin mining industry, now operating three facilities with a total of 1,120 BITMAIN Antminer S19j units[23]. - The Company acquired a 14% stake in Radical Clean Solutions (RCS) on October 1, 2023, and completed the acquisition of 86% of RCS on August 16, 2024, resulting in full control over RCS[57]. - The Company completed the acquisition of a bitcoin mining facility in Alberta for $1.5 million and a 5 MW facility in Ohio for $4.55 million, significantly increasing its hashrate[68][69]. - The Company signed a letter of intent to purchase a Bitcoin mining facility in Sturgeon County, Alberta, on November 13, 2024, highlighting a strategic shift towards sustainable technology initiatives[85]. - The acquisition of the Sturgeon County Bitcoin mining facility was completed on December 3, 2024, and sustainable agriculture operations were launched on December 5, 2024[85]. - The Company signed a letter of intent to acquire a Bitcoin mining facility in Madison Township, Ohio, on December 10, 2024, with the acquisition completed on January 17, 2025[85]. Financial Performance and Projections - The company has experienced recurring net losses since inception and currently has little revenue[120]. - The Company aims to capture a small percentage share of the global market size of target categories, potentially generating net revenues of $560 million[42]. - The Company has incurred an accumulated deficit of approximately $60.8 million as of December 31, 2024, with a net loss of approximately $16.3 million for the year[198]. - The company expects to continue incurring significant operating losses for the foreseeable future and may never become profitable[198]. - The company had approximately $5.3 million of net cash used in operating activities for the year ended December 31, 2024[198]. Technology and Product Development - The UN(THINK) Awakened Flour™ product line has been launched, which is believed to provide health advantages over traditional flour, with production processes refined and scaled[26][30]. - The patented CERES-MNG process allows for flour that has 40 times more fiber, three times more protein, and 75% less net carbohydrates compared to regular all-purpose flour[36][37]. - The company has developed a patented technology that converts grains, pulses, and root vegetables into low-starch, low-sugar, high-protein fiber-rich baking flour products[108]. - The company is exploring joint ventures and licensing opportunities for its FORCEGH+ technology in various environments, including arctic and tropical[51][53]. - The company is integrating artificial intelligence and blockchain into its FinTech systems to enhance financing capabilities for commercial farmers[46][52]. Market and Competitive Landscape - The company may face significant competition from other businesses in the industry, which could affect its market position and financial condition[176]. - The company has a competitive edge with no direct competitors providing a proprietary facility design and automated grow system[105]. - The company operates in a rapidly evolving agriculture industry, which may intensify competition and affect profitability[203]. Risks and Challenges - Bitcoin prices are highly volatile, affecting the Company's growth plans and profitability[123]. - The company must continually add new miners to grow its hash rate to remain competitive in the Bitcoin mining industry[129]. - Security breaches could result in the loss of digital assets, with no insurance protection available for such losses[161]. - The reliance on third-party custody providers for cold-storage solutions poses risks, as breaches could lead to significant asset loss[153]. - The company may require substantial additional capital to execute its business plan, which could be dilutive to existing shareholders[170]. Corporate Governance and Compliance - The Investment Canada Act requires non-Canadian entities acquiring control of a Canadian business to file a pre-closing application for review if financial thresholds are exceeded[210]. - The Competition Act (Canada) allows the Commissioner of Competition to review acquisitions that may substantially prevent or lessen competition, with a notification required if holdings exceed 20% of outstanding voting shares[211]. - New laws and regulations regarding corporate governance may increase compliance costs and create uncertainty for public companies[213]. Management and Staffing - On January 25, 2024, Troy McClellan resigned as President, effective immediately[110]. - Richard Wong resumed his role as Chief Financial Officer on February 10, 2024, and Chris Polimeni was appointed to succeed him on March 4, 2025[111][114]. - As of April 7, 2025, the Company has three employees and eight consultants/contractors, with plans to hire additional staff[115]. Intellectual Property - The company protects its proprietary products and technology through a combination of contractual provisions and intellectual property laws[99]. - The company holds multiple patents related to automated growing systems, with several applications pending in various countries including the United States and Canada[101][102]. - The company has several trademarks registered, including AGRIFORCE and AWAKENED FLOUR, indicating a strong brand presence[103][104].
AgriForce Growing Systems to Participate in Entrepreneurs' Organization Event at Morgan Stanley's New York City Offices
Newsfilter· 2025-03-27 13:38
Core Insights - AgriFORCE Growing Systems, Ltd. is participating in a panel discussion on mergers and acquisitions, highlighting its strategic growth initiatives [1] - The company has recently acquired Bitcoin mining facilities, indicating a shift towards the cryptocurrency sector and its impact on corporate culture and financial systems [2] Group 1: Event Participation - Jolie Kahn, CEO of AgriFORCE, will be a panelist at an event hosted by Morgan Stanley in New York City on March 27, 2025 [1] - The event is organized by the New York chapter of the Entrepreneurs' Organization, with over 100 CEOs registered to attend [1] Group 2: Company Strategy - AgriFORCE's recent acquisitions in the Bitcoin mining space are expected to influence its operational culture and financial reporting [2] - The company aims to leverage advanced technologies and innovative business models to address challenges in agriculture and sustainability [4]
AgriForce Growing Systems to Participate in Entrepreneurs’ Organization Event at Morgan Stanley’s New York City Offices
Globenewswire· 2025-03-27 13:38
Core Insights - AgriFORCE Growing Systems, Ltd. is participating in a panel discussion on mergers and acquisitions, highlighting its strategic growth initiatives [1] - The company has recently acquired Bitcoin mining facilities, indicating a shift towards the cryptocurrency sector and its impact on corporate culture and financial systems [2] Company Overview - AgriFORCE Growing Systems Ltd. is a technology company focused on addressing challenges in agriculture, sustainability, and environmental stewardship through advanced technologies and innovative business models [4] Event Details - The panel discussion will be co-moderated by Richard Levychin, CPA, who is a Managing Partner at Galleros Robinson and serves on AgriFORCE's Audit, Mergers and Acquisitions, and Compensation Committees [3] - The event is organized by the New York chapter of the Entrepreneurs' Organization, with over 100 CEOs registered to attend [1]
AgriForce Growing Systems to Deliver Keynote at Mining Disrupt 2025
Newsfilter· 2025-03-25 15:10
Core Insights - AgriForce Growing Systems Ltd. will be a keynote speaker at Mining Disrupt 2025, a major Bitcoin mining conference held from March 25-27 in Fort Lauderdale, Florida [1][3] - CEO Jolie Kahn will participate in a panel discussion on March 26, focusing on the future of Bitcoin mining and the competition between centralized and decentralized mining [2] - AgriForce will present its innovative modular mining infrastructure and agricultural colocation approach, emphasizing sustainability and energy efficiency [2] Company Overview - AgriForce Growing Systems Ltd. (NASDAQ:AGRI) is a technology company focused on addressing challenges in agriculture, sustainability, and environmental stewardship through advanced technologies and innovative business models [4]
AgriFORCE Growing Systems Announces Key Developments in Its Radical Clean Solutions (RCS) Division
Newsfilter· 2025-03-11 17:30
Core Insights - AgriFORCE Growing Systems Ltd. has made significant advancements in its Radical Clean Solutions (RCS) division, which was acquired in August 2024 [1] - The RCS division has received a U.S. patent for its innovative agricultural integrated systems designed for Radicals Hydroxyl generation units, providing a chemical-free solution for growers [2] - The technology aims to reduce mold, viruses, and volatile organic compounds (VOCs), while also extending the shelf life of produce by lowering ethylene levels [2][3] Company Overview - AgriFORCE Growing Systems Ltd. is focused on addressing critical challenges in agriculture, sustainability, and environmental stewardship through advanced technologies and innovative business models [4] - The company aims to deliver value for shareholders while creating lasting benefits for communities and ecosystems [4] Future Developments - The founder of RCS indicated that multiple patents have been applied for, with expectations for several additional patents to be approved in the coming months [3]
AgriFORCE Growing Systems Ltd. Announces Purchase Orders for RCS Devices
Globenewswire· 2025-03-05 14:46
Core Insights - AgriFORCE Growing Systems Ltd. has made significant advancements in its Radical Clean Solutions (RCS) division, including a new distribution agreement in South America and initial purchase orders in the Caribbean, indicating a strategic expansion into international markets [1][2]. Group 1: Business Developments - The company has signed a distribution agreement in South America and received its first purchase order, marking a strategic milestone for RCS [1]. - RCS has secured its first two purchase orders in the Caribbean, specifically for Barbados and St. Lucia, showcasing strong interest from various regions [2]. Group 2: Leadership Statements - Barrett Mooney, the Chief Operating Officer, emphasized the company's efforts to enhance RCS's sales and manufacturing capabilities and expressed enthusiasm for new product offerings and partnerships [3]. Group 3: Company Overview - AgriFORCE Growing Systems Ltd. is focused on addressing critical challenges in agriculture, sustainability, and environmental stewardship through advanced technologies and innovative business models [3].