AGM Group Holdings Partners with Nowlit to Expand into AI and Crypto Markets

AGM Group Holdings Forms Strategic Partnership with Nowlit

AGM Group Holdings Inc. (NASDAQ: AGMH), a company specializing in fintech software services and high-performance computing equipment, has announced a significant partnership with Nowlit Solutions Corp., a Canadian high-performance computing and data center supplier. The collaboration aims to establish a joint venture named AGM Energy Corp., focusing on clean energy investments and services for the artificial intelligence and cryptocurrency sectors in North America 1

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Joint Venture Details and Objectives

AGM Energy Corp. is set to pursue two primary business objectives:

1. Acquisition of high-quality energy assets in North America, including oil fields, natural gas fields, and hydropower plants.
2. Construction and operation of IDC data centers and cryptocurrency mining farms to provide electricity and operational capabilities to AI and cryptocurrency industry customers 1

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The joint venture represents a strategic move to expand AGM Holdings' presence in the North American AI and cryptocurrency markets, leveraging Nowlit's expertise in serving industry leaders and public companies in these fields.

Investment Plans and Revenue Projections

Dr. Bo Zhu, CEO of AGM Holdings, outlined ambitious investment and revenue targets for AGM Energy:

• Planned investments of at least $30 million by the end of 2024 and $100 million by the end of 2025.
• Projected revenues of no less than $50 million from the energy business and $100 million from IDC data centers and cryptocurrency mining farms by the end of 2025 1

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Strategic Significance and Future Outlook

The partnership is expected to create an industry-leading energy technology system, offering comprehensive energy supply chain services to professionals in the global AI and blockchain sectors. AGM Holdings and Nowlit aim to combine their expertise in artificial intelligence, blockchain, and energy to establish a strong presence in these rapidly growing markets 1

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About the Partner Companies

Nowlit Solutions Corp., founded in 2013, is a Canadian company specializing in high-performance computing and data center solutions. It offers hardware, software, and services for the blockchain ecosystem and has investments in oil and gas fields 1

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AGM Group Holdings Inc. is an integrated technology company focused on becoming a key player in the global blockchain ecosystem. The company's core activities include research and development of blockchain-oriented ASIC chips, production of high-end crypto miners, and provision of fintech software services 1

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Forward-Looking Statements and Caution

While the companies express confidence in the partnership's potential, they have included cautionary statements regarding forward-looking projections. Investors are advised that actual results may differ from anticipated outcomes due to various risks and uncertainties 1

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This strategic partnership highlights the growing intersection of clean energy, artificial intelligence, and cryptocurrency industries, reflecting the evolving landscape of technology and energy sectors in North America.