Land-based salmon farming company Atlantic Sapphire announced Thursday it would increase production during the second phase of its Miami facility, a move that would have a significant impact on the company's potential revenue.

Under the new plan, the company's Phase 2 expansion will produce an additional 5,500 metric tons of head-on gutted (HOG) fish -- around 57 percent more than the initial Phase 2 plan.

Upon completion of Phase 2, scheduled for 2022, annual production of fish from the Miami facility will be 25,000 metric tons of HOG, or around 30,000 metric tons round weight.