AgriFORCE Growing Systems Comments on 600% Growth in Mining Capabilities and Legislation Initiatives
January 29 2025 - 10:30AM
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), a leading
technology-driven innovator, recently reported on the acquisition
of its 5 MW bitcoin mining facility located in Columbiana County,
Ohio. This acquisition has increased the Company’s hashrate by over
600% and highlights the Company’s strategic growth plan of stranded
gas assets to be coupled with sustainable agricultural assets in
the coming months. Commenting on the Company’s incremental growth,
Jolie Kahn, CEO, stated “We are growing at a steady rate having
increased hashrate by over 600% in under 60 days. We will continue
looking at stranded assets with scalable growth potential and
looking to HODL our Bitcoin at 10% or more of our output.”
Supporting Ohio’s Role in Cryptocurrency
Innovation
Ohio has positioned itself as a pioneer in
blockchain and cryptocurrency innovation, driven by initiatives
like the proposed Ohio Bitcoin Reserve Act (HB 703). This
legislation, aimed at leveraging Bitcoin as a hedge against
currency devaluation, underscores the state’s commitment to
financial and technological advancements. AgriFORCE’s investment in
the Columbiana County facility aligns with these efforts, cementing
Ohio’s reputation as a leader in clean energy integration and
digital asset development.
Economic and Social Benefits
The facility’s operations are expected to
generate meaningful economic benefits for Ohio, including:
· Job Creation: The project will create new
opportunities in advanced technology and sustainable agriculture,
addressing workforce development needs in the region.
· Enhanced Food Security: By implementing
agricultural practices that produce nutrient-rich crops, AgriFORCE
will contribute to addressing food insecurity challenges in Ohio,
where over 14% of households face such issues.
About AgriFORCE Growing Systems
Ltd.
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) is
a forward-thinking technology company dedicated to solving critical
challenges in agriculture, sustainability, and environmental
stewardship. By leveraging advanced technologies and innovative
business models, AgriFORCE aims to deliver value for shareholders
while creating lasting benefits for communities and ecosystems.
Follow AgriFORCE on Social Media:
- Twitter: @agriforcegs
- Facebook: AgriFORCE Growing Systems Ltd.
- LinkedIn: AgriFORCE Growing Systems Ltd.
Forward-Looking Statements
Statements made in this press release include
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements can be
identified by the use of words such as “may,” “will”, “plan,”
“should,” “expect,” “anticipate,” “estimate,” “continue,” or
comparable terminology. Such forward-looking statements are
inherently subject to certain risks, trends and uncertainties, many
of which the Company cannot predict with accuracy and some of which
the Company might not even anticipate and involve factors that may
cause actual results to differ materially from those projected or
suggested. Readers are cautioned not to place undue reliance on
these forward-looking statements and are advised to consider the
factors listed above together with the additional factors under the
heading “Risk Factors” in the Company's Period Reports on Forms
10-K and 10-Q, as may be supplemented or amended by the Company's
Current Reports on Form 8-K. The Company assumes no obligation to
update or supplement forward-looking statements that become untrue
because of subsequent events, new information or otherwise. No
information in this press release should be construed as any
indication whatsoever of the Company’s future revenues, results of
operations, or stock price.
For more information, visit www.agriforcegs.com.
For media inquiries, please contact:
Richard WongCFOAgriForce Growing Systems
Ltd.1-778-658-0533rwong@agriforcegs.com
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