Agriforce Growing Systems is acquiring a Bitcoin mining facility in Ohio for $4.5 million

agriculture farming systemsAgri) announced the acquisition of 5 megawatts Bitcoin The mining facility located in Columbiana County, Ohio was purchased for $4.5 million in cash. The facility currently operates 5 megawatts of natural gas power, with over 900 Bitcoin mining units and has the capacity to scale up to 1,200 units. Using energy derived from Flare natural gas, the facility not only generates consistent revenue but also reduces its environmental footprint. Plans are in place to enhance operations by reusing waste heat and implementing carbon capture technology, enabling diversified revenue streams through sustainable agricultural practices, such as growing premium crops and aquaculture systems. As previously disclosed, the company also closed on the first tranche of an up to $50 million financing facility with institutional investors. The company used part of the first $7 million tranche to pay for the acquisition of the assets.

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