BEIJING, Dec. 20,
2024 /PRNewswire/ -- AGM Group Holdings Inc.
("AGM Holdings" or the "Company") (NASDAQ: AGMH), an integrated
technology company specializing in the assembling and sales of
high-performance hardware and computing equipment, announced today
that the Company has signed an investment intention agreement (the
"Agreement") with its Canadian partner, NOWLIT Solutions Corp.
("Nowlit"), a prominent energy technology company focused on
developing energy solutions and data center infrastructure in
Canada, to provide green energy
data center and cryptocurrency computing power. This
initiative aligns strategically with AGM Holdings' long-term
expansion plan in the rapidly evolving artificial intelligence and
data center market in North
America.
Pursuant to the Agreement, Nowlit plans to contribute its
existing 50 megawatts (MW) data center assets to AGM Energy Corp.
("AGM Energy" or the "JV"), the Canadian joint venture co-founded
by AGM Holdings and Nowlit. Led by Nowlit's founder, Mr. Ma, the JV
is set to expand its capacity significantly. The initial 50MW
contribution will enable the data center to host over 6,800
high-performance computing servers, providing an estimated
computing power of 2,457 petahashes (P).
AGM Energy aims to develop additional data centers in
Canada incrementally over the next
two years, adding an average of 20MW per month, with a total
projected capacity of 375MW. Additionally, the JV aims to leverage
upstream and downstream industry partnerships to enhance computing
power. The total computing power capacity of these data centers is
expected to reach 18,427P within two years.
This significant milestone underscores AGM Holdings' commitment
to strengthening its market presence in the fast-growing data
center sector. By capitalizing on the increasing demand for digital
assets and leveraging its expertise in hardware and software
solutions, the Company is well-positioned to capture emerging
opportunities brought forward by the latest artificial intelligence
technology revolution, driving sustainable growth and value
creation for its stakeholders.
About NOWLIT Solutions Corp.
Established in 2013, NOWLIT Solutions Corp. is a high
performance computing and data center supplier based in
Canada. It offers complete
solution including all hardware, hosting and initial setup for new
and experienced servers. It is also committed to supporting the
blockchain ecosystem by offering hardware, software and a variety
of solutions and services. It has invested in large-scale oil and
gas fields and is involved in the construction and operation of
informatization infrastructure such as third-party data center
machine rooms and bitcoin mining farms. For more
information, please visit https://nowlit.com/.
About AGM Group Holdings Inc.
AGM Group Holdings Inc. (NASDAQ: AGMH) is an integrated
technology company specializing in the assembling and sales of
high-performance hardware and computing equipment. With a mission
to become a key participant and contributor in the global
blockchain ecosystem, AGMH focuses on the research and development
of blockchain-oriented Application-Specific Integrated Circuit
(ASIC) chips, the assembling and sales
of high-end crypto miners for
Bitcoin and other cryptocurrencies. For
more information, please visit www.agmprime.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company's
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Investors can
identify these forward-looking statements by words or phrases such
as "approximates," "assesses," "believes," "hopes," "expects,"
"anticipates," "estimates," "projects," "intends," "plans," "will,"
"would," "should," "could," "may" or similar expressions. The
Company undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and other
filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
AGM Group Holdings
Inc.
Email: ir@agmprime.com
Website: http://www.agmprime.com
Ascent Investor Relations LLC
Tina Xiao
President
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
View original
content:https://www.prnewswire.com/news-releases/agm-group-holdings-inc-announces-strategic-partnership-with-canadas-nowlit-to-expand-high-performance-computing-capabilities-302337049.html
SOURCE AGM Group Holdings Inc.