Summary by Moomoo AI
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), an intellectual property-focused technology company, has announced a strategic shift towards sustainable technology solutions. On November 13, 2024, the company signed a Letter of Intent to acquire a Bitcoin mining facility in Alberta, Canada, which operates on sustainable energy. The facility has a 1.2MW capacity and offers significant potential for carbon offsets. CEO Jolie Kahn emphasized the company's commitment to sustainable technology and the integration of Bitcoin mining into its operations. AgriFORCE plans to allocate 10-20% of future capital towards purchasing and holding Bitcoin. The company also intends to leverage its proprietary technology to establish Controlled Environment Agriculture (CEA) facilities to capture carbon exhaust for sustainable agriculture, generating additional value through carbon credits and agricultural production. The transaction is expected to be completed in the coming weeks, with further updates to be provided on the company's progress.