AGM Group Holdings Inc. (“AGM Holdings” or the “Company”) (NASDAQ: AGMH), a technology company specializing in high-performance hardware and computing equipment, announced the purchase of 2,000 Bitcoin (BTC) mining machines from Canaan Creative Global Pte Ltd. (“Canaan”), a Singapore-based firm, through its Hong Kong subsidiary, AGM Technology Limited. This acquisition reflects AGM Holdings’ strategic focus on the digital asset market and technological innovation.
The purchase, finalized on December 1, 2024, also includes an option to buy up to 30,000 additional BTC mining units (with a maximum power capacity of 300 megawatts) until December 31, 2025.
This investment signifies AGM Holdings’ commitment to expanding its presence in the cryptocurrency sector. Leveraging its hardware and software expertise, the Company aims to capitalize on the growing demand for digital assets and opportunities within the cryptocurrency and blockchain industries, driving growth and shareholder value.
Canaan, a wholly owned subsidiary of Canaan Inc. (NASDAQ: CAN), designs and manufactures high-performance computing chips and equipment, offering software services as well. Established in 2013, Canaan Inc. launched the world’s first ASIC-based Bitcoin mining machines under the Avalon brand.
About AGM Group Holdings Inc.
AGM Group Holdings Inc. (NASDAQ: AGMH) is a technology company focused on assembling and selling high-performance hardware and computing equipment. Committed to the global blockchain ecosystem, AGMH researches and develops blockchain-oriented ASIC chips and high-end crypto miners for Bitcoin and other cryptocurrencies. For more information, please visit .
Forward-Looking Statements
This announcement contains forward-looking statements involving risks and uncertainties. These statements are based on current expectations and projections about future events that may affect the Company’s financial condition and results. Forward-looking statements can be identified by words like “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may,” and similar expressions. The Company is not obligated to update these statements except as required by law. While the Company believes these expectations are reasonable, actual results may differ materially. Investors should review the Company’s filings with the U.S. Securities and Exchange Commission for additional information.
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Tina Xiao
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