AGM Group targets global mining sector expansion

  • Stock Market News
AGM Group targets global mining sector expansion
Credit: © Reuters.

BEIJING - AGM Group Holdings Inc. ( NASDAQ : AGMH), a Beijing-based technology company, announced its strategic initiative to expand its Bitcoin mining and data center operations globally.

The company, which specializes in fintech software services and the production of high-performance hardware and computing equipment, is broadening its portfolio to incorporate digital technology and cryptocurrency mining, as well as technology hardware research, development, manufacture, and sales.

The expansion plan includes the establishment and operation of Bitcoin mining data centers and hosting services across strategic locations in the United States, Canada, and Central Asia. AGM Group aims to manage up to 200MW of data centers worldwide, achieve a hash rate of up to 5 EH/s, and deploy over 50,000 mining machines by the end of 2024.

Mr. Zhu Bo, Chairman and CEO of AGM Group, expressed optimism about the company's growth and its role in the mining industry. He highlighted ongoing negotiations with energy providers and bitcoin mining farms, as well as with customers in need of mining hosting services.

AGM Group's strategy involves self-constructed projects, joint mining ventures, and strategic acquisitions. The company seeks to leverage its expertise in the industry and its relationships with energy partners to become a significant player in the global mining sector.

The firm's approach is to serve as a conduit between hosting customers and energy partners, providing expertise and access to potential customers. This strategic move is intended to create a more comprehensive business structure and accelerate growth, with the goal of enhancing shareholder value.

Incorporated in April 2015, AGM Group Holdings Inc. is committed to becoming a key participant in the global fintech and blockchain ecosystem.

The information is based on a press release statement from AGM Group Holdings Inc.

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