AGM Group Holdings Inc. Announces Strategic Partnership with Canada's Nowlit to Expand High-Performance Computing Capabilities

BEIJING, Dec. 20, 2024 /PRNewswire/ — AGM Group Holdings Inc. (“AGM Holdings” or the “Firm”) (NASDAQ: AGMH), an built-in know-how firm specializing within the assembling and gross sales of high-performance {hardware} and computing tools, introduced at present that the Firm has signed an funding intention settlement (the “Settlement”) with its Canadian accomplice, NOWLIT Options Corp. (“Nowlit”), a distinguished power know-how firm centered on creating power options and knowledge middle infrastructure in Canada, to supply inexperienced power knowledge middle and cryptocurrency computing energy. This initiative aligns strategically with AGM Holdings’ long-term enlargement plan within the quickly evolving synthetic intelligence and knowledge middle market in North America.

Pursuant to the Settlement, Nowlit plans to contribute its present 50 megawatts (MW) knowledge middle property to AGM Vitality Corp. (“AGM Vitality” or the “JV”), the Canadian three way partnership co-founded by AGM Holdings and Nowlit. Led by Nowlit’s founder, Mr. Ma, the JV is ready to broaden its capability considerably. The preliminary 50MW contribution will allow the information middle to host over 6,800 high-performance computing servers, offering an estimated computing energy of two,457 petahashes (P).

AGM Vitality goals to develop extra knowledge facilities in Canada incrementally over the subsequent two years, including a mean of 20MW per 30 days, with a complete projected capability of 375MW. Moreover, the JV goals to leverage upstream and downstream trade partnerships to reinforce computing energy. The whole computing energy capability of those knowledge facilities is predicted to achieve 18,427P inside two years.

This important milestone underscores AGM Holdings’ dedication to strengthening its market presence within the fast-growing knowledge middle sector. By capitalizing on the growing demand for digital property and leveraging its experience in {hardware} and software program options, the Firm is well-positioned to seize rising alternatives introduced ahead by the most recent synthetic intelligence know-how revolution, driving sustainable development and worth creation for its stakeholders.

About NOWLIT Options Corp.

Established in 2013, NOWLIT Options Corp. is a excessive efficiency computing and knowledge middle provider primarily based in Canada. It provides full resolution together with all {hardware}, internet hosting and preliminary setup for brand spanking new and skilled servers. Additionally it is dedicated to supporting the blockchain ecosystem by providing {hardware}, software program and quite a lot of options and companies. It has invested in large-scale oil and fuel fields and is concerned within the development and operation of informatization infrastructure reminiscent of third-party knowledge middle machine rooms and bitcoin mining farms. For extra info, please go to https://nowlit.com/.

About AGM Group Holdings Inc.

AGM Group Holdings Inc. (NASDAQ: AGMH) is an built-in know-how firm specializing within the assembling and gross sales of high-performance {hardware} and computing tools. With a mission to grow to be a key participant and contributor within the world blockchain ecosystem, AGMH focuses on the analysis and improvement of blockchain-oriented Software-Particular Built-in Circuit (ASIC) chips, the assembling and gross sales of high-end crypto miners for Bitcoin and different cryptocurrencies. For extra info, please go to www.agmprime.com.

Ahead-Wanting Statements

Sure statements on this announcement are forward-looking statements. These forward-looking statements contain identified and unknown dangers and uncertainties and are primarily based on the Firm’s present expectations and projections about future occasions that the Firm believes could have an effect on its monetary situation, outcomes of operations, enterprise technique and monetary wants. Traders can establish these forward-looking statements by phrases or phrases reminiscent of “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “initiatives,” “intends,” “plans,” “will,” “would,” “ought to,” “may,” “could” or comparable expressions. The Firm undertakes no obligation to replace or revise publicly any forward-looking statements to replicate subsequent occurring occasions or circumstances, or modifications in its expectations, besides as could also be required by legislation. Though the Firm believes that the expectations expressed in these forward-looking statements are affordable, it can’t guarantee you that such expectations will become right, and the Firm cautions traders that precise outcomes could differ materially from the anticipated outcomes and encourages traders to evaluate different elements which will have an effect on its future leads to the Firm’s registration assertion and different filings with the U.S. Securities and Trade Fee.

For extra info, please contact:

AGM Group Holdings Inc.
Electronic mail: ir@agmprime.com
Web site: http://www.agmprime.com

Ascent Investor Relations LLC
Tina Xiao
President
Telephone: +1-646-932-7242
Electronic mail: traders@ascent-ir.com

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