Nature's Miracle Holding Inc. Launches NM Data Inc. and Announces $3 Million Investment in Future Tech, Inc. to Develop a 50MW Bitcoin Mining Facility in Ohio

Rhea-AI Summary

Nature's Miracle Holding (NASDAQ: NMHI) has formed NM Data Inc., a Nevada-based subsidiary, to develop Bitcoin mining facilities. NM Data has agreed to invest up to $3 million in Future Tech for a 51% ownership stake, to develop a 50MW Bitcoin mining and data center facility in Stryker, Ohio. The investment includes an initial $200,000 payment with the remaining $2.8 million due within 12 months. The deal is contingent on Future Tech securing an electricity agreement and a ten-year lease option. Additional capital will be required to complete the facility.

Positive

• Acquisition of 51% controlling stake in Future Tech through $3M investment
• Access to 50MW electricity supply at favorable rates
• Strategic entry into the growing Bitcoin mining sector
• Facility location in US territory with favorable regulatory environment

Negative

• Additional capital required beyond the $3M investment to complete the facility
• Investment completion contingent on multiple conditions
• Phased payment structure with majority ($2.8M) due within 12 months

News Market Reaction – NMHI

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+8.23% News Effect

On the day this news was published, NMHI gained 8.23%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Upon Completion of the Investment, this facility will have a 50MW capacity for Bitcoin Mining

ONTARIO, Calif., Nov. 25, 2024 /PRNewswire/ -- Nature's Miracle Holding Inc. (NASDAQ: NMHI) ("Nature's Miracle" or the "Company"), announced today it has formed NM Data Inc., a Nevada Corporation and 100% subsidiary, to develop and acquire Bitcoin mining facilities. NM Data has signed an agreement to invest up to $3 million in Future Tech Incorporated ("Future Tech"), an Ohio-based company, to develop and build up to 50MW of Bitcoin mining and data center hosting facilities at Stryker, Ohio. With the $3 million investment, NM Data, Inc will own 51% of Future Tech, Inc.

The initial investment is $200,000 and the additional $2,800,000 is to be paid within 12 months of the initial closing. The closing of the investment of the $3 million is subject to Future Tech's executing an Electricity Sales and Purchase Agreement with a certain supplier set forth in the agreement and Future Tech entering into a ten-year lease option to purchase indoor space as set forth in the agreement.  NM Data will invest additional capital to complete the 50MW bitcoin mining facility.

According to James Li, Chairman and CEO, "With Bitcoin's price approaching $100,000, Bitcoin has become an important asset class attracting public companies, investment funds and banks around the world. With the new administration under President-elect Trump coming to office next year, crypto mining in the U.S is expected to continue to gain traction. We have been working with the Future Tech team since March of this year to develop the business plan for a bitcoin mining and data center facility at Stryker, where Future Tech will access to up to 50MW of electricity supply at a favorable rate. With the significant magnitude in demand for bitcoin mining and data center development, we are extremely excited about the potential of this project."

About Nature's Miracle Holding Inc.

Nature's Miracle (www.Nature-Miracle.com) is a growing agriculture technology company providing equipment and services to growers in the Controlled Environment Agriculture ("CEA") industry which also includes vertical farming in North America. The Company has recently formed Hydroman Electric Corporation to service the growing commercial and agriculture electric vehicle in the U.S. and NM Data, Inc to develop bitcoin mining and data center hosting facilities in the U.S.  

About Future Tech Incorporated.

Future Tech is a growing technology company specializing in the development of data centers, Bitcoin mining centers and Artificial Intelligence data centers. It previously built and sold a 10MW data center and has worked with regulatory agencies, electric power suppliers and heavy users of data centers over the last four years. Future Tech is based in Toledo, Ohio.

Forward-Looking Statements

The information in this press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast," "intends," "may," "will," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, for example: the intended use of proceeds from the offering; successful launch and implementation of Nature's Miracle's joint projects with manufacturers and other supply chain participants of steel, rubber and other materials; changes in Nature's Miracle's strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; Nature's Miracle's ability to develop and launch new products and services; Nature's Miracle's ability to successfully and efficiently integrate future expansion plans and opportunities; Nature's Miracle's ability to grow its business in a cost-effective manner; Nature's Miracle's product development timeline and estimated research and development costs; the implementation, market acceptance and success of Nature's Miracle's business model; developments and projections relating to Nature's Miracle's competitors and industry; and Nature's Miracle's approach and goals with respect to technology. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is undertaken to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain the listing of the Company's shares on Nasdaq; changes in applicable laws or regulations; the effects of the coronavirus (COVID-19) and any future outbreaks on Nature's Miracle's business; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industry in which Nature's Miracle's operates; the risk that Nature's Miracle's and its current and future collaborators are unable to successfully develop and commercialize Nature's Miracle's products or services, or experience significant delays in doing so; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that Nature's Miracle's is unable to secure or protect its intellectual property; the possibility that Nature's Miracle's may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described in Nature's Miracle's filings from time to time with the SEC.

Contacts
George Yutuc
Chief Financial Officer
George.Yutuc@nature-miracle.com 

MZ North America
Shannon Devine / Rory Rumore
Main: 203-741-8811
NMHI@mzgroup.us

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SOURCE Nature's Miracle Holding Inc.

FAQ

What is the total investment Nature's Miracle (NMHI) is making in Future Tech?

Nature's Miracle is investing up to $3 million in Future Tech, with an initial payment of $200,000 and the remaining $2.8 million to be paid within 12 months.

What percentage of Future Tech will NMHI own after the investment?

After completing the $3 million investment, NMHI will own 51% of Future Tech through its subsidiary NM Data Inc.

What is the power capacity of the planned Bitcoin mining facility by NMHI?

The planned Bitcoin mining facility in Stryker, Ohio will have a capacity of 50MW.

What conditions must be met for NMHI's investment in Future Tech to close?

The investment requires Future Tech to secure an Electricity Sales and Purchase Agreement and enter into a ten-year lease option to purchase indoor space.