AGM Group Holdings Inc. - AGMH STOCK NEWS

AGM Group Holdings Inc (AGMH) announced its plans to explore strategic opportunities for establishing a manufacturing base in North America, specifically in the U.S. or Canada, to enhance its position in the Bitcoin mining sector. This initiative aims to streamline supply chains and improve local market penetration. Potential locations include Pittsburgh and Seattle. Led by Chief Strategy Officer Bo Zhu, AGMH has already started testing components with local manufacturers. Co-CEO Chenjun Li highlighted the significance of this move for expanding their North American operations and client engagement.

AGM Group Holdings Inc (AGMH) has secured a purchase order from Code Chain New Continent Limited (CCNC) for 10,000 cryptocurrency mining machines valued at $65 million. The order is set for delivery in the second half of 2022 and includes an option for an additional 10,000 units. This collaboration is expected to strengthen AGMH's position in the cryptocurrency market and enhance its capabilities in providing high-performance mining equipment. The agreement marks a significant milestone for both AGMH and CCNC as they expand in the cryptocurrency sector.

AGM Group Holdings Inc. (AGMH) has announced a strategic partnership with Meten Holding Group Ltd. (METX) on October 26, 2021. This collaboration aims to advance research and development for blockchain applications and establish a supply chain for cryptocurrency mining. Meten has placed an initial order for 1,500 Bitcoin mining machines valued at $12 million, with options for more. AGMH's partnership with HighSharp has bolstered its R&D capabilities, positioning the company favorably in the cryptocurrency mining sector, as expressed by executives from both companies.

AGM Group Holdings Inc. (Nasdaq: AGMH) announced a significant order to supply MinerVa Semiconductor Corp. with 25,000 units of its 100 TH/S MinerVa MV7 ASIC for crypto mining. The order, valued at US$20 million as an initial deposit, enhances AGMH's financial position and supports its growth strategy. CFO Steven Sim highlighted this order's role in increasing cash flow and establishing a solid foundation for mass production plans in 2022, thereby positioning AGMH to capitalize on growth opportunities in the fintech and blockchain sectors.

AGM Group Holdings Inc. (AGMH) announced a significant purchase order from Nowlit Solutions Corp for 30,000 units of 100 TH/S ASIC crypto miners, totaling a hash power of 3000 PH/S. The fulfillment is expected in Q4 2021, aligning with AGMH's goal to achieve USD 100 million in orders. This order marks a pivotal moment in AGMH's growth strategy and partnership with HighSharp Electronic Technology. The company aims to enhance its position within the fintech and blockchain industries.

AGM Group Holdings Inc. (AGMH) announced its unaudited financial results for the six months ended June 30, 2021, revealing a 100% decrease in revenue to $0, compared to $8,449 in the same period last year. Despite a 23% reduction in net loss to $(507,825), operational challenges persist. The company is shifting focus towards ASIC chip design and crypto mining equipment, launching its first product, the KOI MINER C16, which boasts superior performance metrics. Strategic partnerships and new executive appointments aim to bolster growth in the blockchain ecosystem.

AGM Group Holdings Inc. (NASDAQ: AGMH) announced the appointment of Steven Yuan Ning Sim as the new Chief Financial Officer, effective September 24, 2021. Sim brings over 15 years of financial management experience, having previously served as CFO at Pintec Technology Holdings Limited. His predecessor, Zhihe Yang, resigned from the CFO position on September 23, 2021, without any reported disagreements regarding the Company’s operations. AGMH focuses on high-performance chip solutions and fintech software services.

AGM Group Holdings Inc. (NASDAQ: AGMH) has scheduled its earnings conference call for the first half ended June 30, 2021, on September 29, 2021, at 8:00 a.m. ET. The call will be accessible via dial-in numbers listed for various regions. A playback of the call will be available until October 6, 2021. AGMH specializes in blockchain-oriented ASIC chip design and crypto miner production, aiming to be a key contributor to the blockchain ecosystem. For further information, visit www.agmprime.com.

AGM Group Holdings (AGMH) has announced a strategic partnership with HighSharp, a leading fabless integrated circuit designer. This collaboration aims to enhance growth in the cryptocurrency market by combining AGMH's software capabilities with HighSharp's ASIC chip design expertise. Key aspects include HighSharp endorsing intellectual property rights, AGMH targeting $100 million in global orders within six months, and plans for a joint venture if targets are met, with AGMH owning 60%. This partnership is designed to address market demands and drive future growth.