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Finding Sustainability in Bitcoin Mining – Stocks to watch; (NASDAQ: $AGRI), (NASDAQ: $MARA) (TSX.V: $HIVE.V) (NASDAQ: $HIVE)
December 16, 2024 – (Investorideas.com Newswire) Investorideas.com, a global news source and expert investing resource covering water and renewable energy stocks issues a new edition of the Investorideas.com Cleantech Podcast with host Dawn Van Zant, looking at sustainability in bitcoin mining and some of the key players making it happen.
Stocks mentioned include. AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), MARA (NASDAQ: MARA) and HIVE Digital Technologies Ltd. (TSX.V: HIVE) (NASDAQ: HIVE).
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Read this in full at https://www.investorideas.com/news/2024/cleantech-podcasts/12161Finding-Sustainability-in-Bitcoin-Mining.asp
Transcript:
As Bitcoin ( BTC: USD) raced past $105,000 Sunday , miners that show greater profitability and mine in a way that is sustainable, not putting more strain on the current grid system will come out as big winners for investors.
On December 3, AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), a leading intellectual property-driven technology company, announced the completion of its acquisition of a bitcoin mining facility in Sturgeon County, Alberta. Acquired for $1.5 million in cash, this cutting-edge facility represents a cornerstone of AgriFORCE's integrated strategy, blending sustainable energy, advanced data operations, and innovative agricultural solutions.
The facility, powered by 1.2 MW of natural gas energy, currently supports over 130 bitcoin mining units and has the scalability to accommodate up to 250 units. This capability delivers immediate and long-term revenue streams while advancing environmental sustainability through the use of flare natural gas-powered operations. These efficiencies create additional opportunities for income generation by integrating high-yield agricultural initiatives.
Chairman David Welch highlighted the strategic benefits of this acquisition:
“This facility exemplifies our ability to execute on a self-sustaining, scalable business model. By generating revenue from bitcoin mining and seamlessly integrating sustainable agriculture operations, we can offset operational costs and retain the Bitcoin we mine ('HODL'). This positions us to maximize the future value of our assets while maintaining operational efficiency and financial stability. It’s a forward-looking strategy that aligns perfectly with our commitment to innovation, sustainability, and long-term stakeholder value.”
Also on December 3rd, MARA (NASDAQ: MARA) , a global leader in leveraging digital asset compute to support the energy transformation, announced entering into a definitive agreement to acquire a wind farm in Hansford County, Texas, with 240 MW of interconnection capacity and 114 MW of nameplate wind capacity. This acquisition represents a major step forward in MARA’s objectives to convert underutilized sustainable resources into economic value, achieve near-zero energy cost, and enable broader renewable energy deployment.
MARA will develop and operate a behind-the-meter data center powered entirely by the site’s 114 MW of wind capacity at zero-marginal energy cost. By operating a data center at this site, MARA expects to take wind demand off the grid – alleviating grid congestion, enabling renewable energy development, and building local power demand.
“This acquisition serves as a blueprint for how the energy and data center sectors can collaborate to create long-term value while advancing sustainability initiatives,” said Fred Thiel, MARA’s Chairman and CEO. “By repurposing machines and energizing them with 100% renewable, zero-marginal energy cost, we’re leveraging renewable resources that would have otherwise been curtailed, reducing our bitcoin production costs through vertical integration, and demonstrating MARA’s commitment to environmental stewardship.”
The site will utilize last-generation ASIC mining hardware that would have otherwise been written off or sold into the secondary market. MARA’s approach, called the Advanced ASIC Retirement Initiative, creates a more sustainable and capital-efficient alternative to discarding retired machines, providing an avenue for the hardware to continue operating profitably beyond their normal lifecycle, utilizing wind power that would otherwise have been curtailed.
Also in early December , HIVE Digital Technologies Ltd. (TSX.V: HIVE) (Nasdaq: HIVE) a global leader in sustainable blockchain infrastructure, announced a transformative step forward with the acquisition of 8.6 (Exahash) EH/s of Bitmain S21+ Hydros. This purchase will increase HIVE’s Bitcoin mining hashrate to 15 EH/s of high-margin, self-mining capacity by summer 2025. These state-of-the-art miners deliver an industry-leading efficiency of 15 J/TH (joules per terahash) and 319 TH/s per unit, which will be powered by HIVE’s green energy infrastructure in Paraguay.
Frank Holmes, Executive Chairman of HIVE, stated: “Once fully deployed, our strategic expansion to 15 (Exahash) EH/s will propel HIVE to over $300 million in annualized revenue and deliver more than $200 million in mining margin, based on current mining economics. At 2% of the Bitcoin network’s total hashrate, we expect to produce approximately 9 Bitcoin per day at the current difficulty level, supporting HIVE's clear vision for scaling our operations while sourcing green hydro energy and driving significant value for shareholders.”
HIVE’s initial order comprises 13,480 units, representing 4.3 (Exahash) EH/s of hashrate capacity, scheduled for delivery in April and May 2025. This acquisition was secured at an exceptionally competitive price of $14/TH. (Terahash)
Additionally, the Company has a call option to purchase an additional 13,480 units within one year, bringing the potential total order to 26,960 units, or 8.6 EH/s (Exahash) of cutting-edge mining capacity.
By Q1 2025, HIVE will achieve a hashrate of 6.4 EH/s (Exahash) following the internal upgrades of its existing 30 J/TH (joules per terahash) fleet and the installation of 11,500 Canaan Avalon units. These upgrades will elevate the Company’s global mining efficiency to 19.5 J/TH (joules per terahash)
Upon full execution and installation of the Bitmain order, HIVE will reach 15 EH/s (Exahash) of global hashrate capacity, with a blended fleet efficiency of 17 J/TH (joules per terahash)
HIVE’s CEO and President, Aydin Kilic, commented: “Our primary focus is delivering exceptional ROI for our shareholders. This strategic purchase and deployment of highly efficient 15 J/TH (joules per terahash) miners in Paraguay will significantly enhance our profitability and substantially lower our Bitcoin mining break-even point at current difficulty levels.”
Mr. Kilic continued, “With this deployment, we project an ROI of approximately 10 months, taking in to account current hashrate economics of $60/PH (Petahash) per day after accounting for electrical and direct operating costs. This positions HIVE for strong profitability and sustainable long-term growth.”
One of the biggest criticisms bitcoin mining receives is the amount of energy it uses, but these companies are getting the message and making sustainability a priority, and other miners are jumping on board.
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https://www.investorideas.com/Bitcoin-Cryptocurrency/Stocks_List.asp
Thanks, that's it for today. Do something good for this beautiful planet each and every day.
Host Dawn Van Zant is a female pioneer in the financial markets sitting in every seat as a trader, a broker, IR and PR before finally starting my own site. Van Zant has been featured in interviews in Business Week, CNN Financial TV, CBS Market watch radio and other financial publications online, radio and print, talking about renewable energy, water and homeland defense stocks.
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