Operation Berwyn

AgriFORCE Growing Systems Ltd. has deployed 120 Bitcoin mining rigs at its Berwyn, Alberta site, powered by stranded natural gas. The operation, launched in partnership with BlueFlare Energy, draws 425 kilowatts (kW) and delivers 32 petahashes per second (PH/s).

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

The initiative utilizes natural gas considered uneconomical to extract or transport, providing a potential revenue stream for stranded resources.

Expansion Planned

The company has signed a binding letter of intent with BlueFlare for two more sites in Oyen and Hinton, Alberta, replicating the Berwyn model.

Profitability Strategy

AgriFORCE has already mined 7 BTC (worth ~$735,000) from its operations. Company policy includes retaining up to 50% of mined Bitcoin while using the other half for expansion.

Additionally, AgriFORCE may use up to 50% of expansion funds directly to acquire Bitcoin.

Financial Performance

Shares in AgriFORCE rose 1.85% (~$1.10 closing price) following the news. Year-to-date, the stock is down over 53%, though the firm saw a significant 317% revenue increase and 66% net profit growth in its 2024 fiscal year.

Energy Cost Trends

Amid rising Bitcoin mining costs—forecasted to reach $70,000 per BTC by June 2025—miners seek cheaper power sources.

Industry analysis indicates a shift away from coal power and towards renewables, which are growing at a 5.8% CAGR. AgriFORCE’s use of stranded gas represents one approach to lowering operational expenses.