NEWS
AGM Group Holdings Inc. Enters into Partnership Agreement with Nowlit to Facilitate Expansion in AI and Crypto Markets
BEIJING, Oct. 10, 2024 /PRNewswire/ -- AGM Group Holdings Inc. ("AGM Holdings" or the "Company") (NASDAQ: AGMH), an integrated technology company specializing in fintech software services and producing high-performance hardware and computing equipment, today announced that the Company, through its subsidiary AGM CANADAHOLDINGS LIMITED ("AGM Canada"), has entered into a partnership agreement (the "Agreement") with NOWLIT SOLUTIONS CORP. ("Nowlit"), a high performance computing and data center supplier in Canada on October 2, 2024 to establish a joint venture named AGM Energy Corp. ("AGM Energy"). AGM Energy is expected to focus on investing in and operating in clean energy industries and providing high-quality services for the construction and operation of power and data center facilities for the artificial intelligence, big data industries, cryptocurrency, and digital currency industries. The strategic move is set to facilitate the Company's expansion in the artificial intelligence and cryptocurrency market in North America.
Pursuant to the Agreement, AGM Energy plans to invest in and operate clean energy including oil fields, natural gas fields, and hydropower plants in Canada. AGM Energy intends to actively promote two aspects of business:
(1) Acquiring high-quality energy assets in North America, such as oil fields, natural gas and hydropower plants, through investment or merger and acquisition, and the business income is the proceeds from energy sales.
(2) Providing electricity and operation capabilities to customers in the AI and cryptocurrency industries through the construction of IDC data centers and cryptocurrency mining farms, and its business income is electricity charges and hosting operation management service fees.
Pursuant to the Agreement, AGM Energy plans to invest in and operate clean energy including oil fields, natural gas fields, and hydropower plants in Canada. AGM Energy intends to actively promote two aspects of business:
(1) Acquiring high-quality energy assets in North America, such as oil fields, natural gas and hydropower plants, through investment or merger and acquisition, and the business income is the proceeds from energy sales.
(2) Providing electricity and operation capabilities to customers in the AI and cryptocurrency industries through the construction of IDC data centers and cryptocurrency mining farms, and its business income is electricity charges and hosting operation management service fees.
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