AgriFORCE Growing Systems Ltd., a Canadian agricultural company, has started using leftover natural gas to run Bitcoin
The gas comes from areas where it cannot be easily collected or sold. Instead of letting it go to waste, the company turns it into power for 120 mining machines at a site in Berwyn, Alberta.
This project is done in partnership with BlueFlare Energy, as stated in a June 17 press release by AgriFORCE.
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The mining setup uses 425 kilowatts of electricity and produces around 32 petahashes per second of computing power.
AgriFORCE stated that setting up these systems does not require waiting for permits or upgrades to the local power grid. By bringing the equipment directly to the site, they can start operations quickly.
BlueFlare and AgriFORCE have also agreed to build two more sites in Alberta, one in Oyen and another in Hinton. These will follow the same model used in Berwyn.
The company has mined seven Bitcoin, worth about $735,000, between its locations in Alberta and Ohio.
AgriFORCE plans to keep up to half of the Bitcoin it mines as part of its own reserves. The rest will be used to grow its mining operations. The company also said that half of any capital it raises could be used to directly buy more Bitcoin.
Pakistan recently announced plans to use 2,000 megawatts of surplus electricity to support Bitcoin mining and artificial intelligence (AI) centers. How? Read the full story.
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