Wang & Lee Group Awarded US$71 Million Contract by NQ Marble with Exclusive Rights to Pioneer Dual-Purpose Marble Quarrying and Solar Crypto Farm Operations in Queensland
Wang & Lee Group (NASDAQ: WLGS) has secured a US$71 million contract from NQ Marble to conduct marble quarrying operations and develop a solar crypto farm in Queensland, Australia. The deal includes a US$1 million non-refundable deposit and covers 25.42 km² of land.
The project combines marble extraction with renewable energy generation, leveraging Queensland's superior solar resources with 300+ days of sunshine annually and solar irradiance of 5.5-6.0 kWh/m²/day. NQ Marble currently possesses 141 marble blocks weighing 2,800 tonnes, valued at AUD800-1,000 per tonne.
The dual-purpose model aims to maximize land utility by repurposing idle quarry areas for solar-powered cryptocurrency mining operations, with excess energy stored in battery systems. The initiative will serve Australia's home building sector while advancing sustainable industrial practices.
Wang & Lee Group (NASDAQ: WLGS) ha ottenuto un contratto di 71 milioni di dollari USA da NQ Marble per condurre operazioni di estrazione di marmo e sviluppare una fattoria solare per criptovalute nel Queensland, Australia. L'accordo include un deposito non rimborsabile di 1 milione di dollari USA e copre un'area di 25,42 km².
Il progetto combina l'estrazione di marmo con la generazione di energia rinnovabile, sfruttando le superiori risorse solari del Queensland, con oltre 300 giorni di sole all'anno e un'irradianza solare di 5,5-6,0 kWh/m²/giorno. NQ Marble possiede attualmente 141 blocchi di marmo del peso di 2.800 tonnellate, valutati tra 800 e 1.000 AUD per tonnellata.
Il modello a doppio scopo mira a massimizzare l'utilizzo del terreno riproponendo aree di cava inattive per operazioni di mining di criptovalute alimentate da energia solare, con l'energia in eccesso immagazzinata in sistemi di batterie. L'iniziativa servirà il settore delle costruzioni residenziali in Australia, promuovendo pratiche industriali sostenibili.
Wang & Lee Group (NASDAQ: WLGS) ha asegurado un contrato de 71 millones de dólares estadounidenses de NQ Marble para llevar a cabo operaciones de extracción de mármol y desarrollar una granja solar de criptomonedas en Queensland, Australia. El acuerdo incluye un depósito no reembolsable de 1 millón de dólares estadounidenses y abarca 25,42 km² de terreno.
El proyecto combina la extracción de mármol con la generación de energía renovable, aprovechando los superiores recursos solares de Queensland, con más de 300 días de sol al año y una irradiación solar de 5,5-6,0 kWh/m²/día. NQ Marble posee actualmente 141 bloques de mármol con un peso de 2.800 toneladas, valorados entre 800 y 1.000 AUD por tonelada.
El modelo de doble propósito tiene como objetivo maximizar la utilidad del terreno reutilizando áreas de cantera inactivas para operaciones de minería de criptomonedas alimentadas por energía solar, con el exceso de energía almacenado en sistemas de baterías. La iniciativa servirá al sector de la construcción residencial en Australia, promoviendo prácticas industriales sostenibles.
Wang & Lee Group (NASDAQ: WLGS)는 NQ Marble로부터 7천1백만 달러 계약을 확보하여 호주 퀸즐랜드에서 대리석 채굴 작업을 수행하고 태양광 암호화폐 농장을 개발합니다. 이 거래에는 100만 달러의 환불 불가 보증금이 포함되며, 25.42 km²의 토지를 포함합니다.
이 프로젝트는 대리석 추출과 재생 가능 에너지 생성이 결합되어 있으며, 퀸즐랜드의 300일 이상의 일조량과 5.5-6.0 kWh/m²/일의 태양 복사 에너지를 활용합니다. NQ Marble은 현재 2,800톤의 무게를 가진 141개의 대리석 블록을 보유하고 있으며, 톤당 800-1,000 AUD의 가치가 있습니다.
이 이중 목적 모델은 태양광으로 구동되는 암호화폐 채굴 작업을 위해 유휴 채석장을 재활용하여 토지 활용도를 극대화하는 것을 목표로 하며, 잉여 에너지는 배터리 시스템에 저장됩니다. 이 이니셔티브는 호주의 주택 건설 부문에 기여하면서 지속 가능한 산업 관행을 발전시킬 것입니다.
Wang & Lee Group (NASDAQ: WLGS) a obtenu un contrat de 71 millions de dollars américains de NQ Marble pour mener des opérations d'extraction de marbre et développer une ferme solaire de cryptomonnaies dans le Queensland, en Australie. L'accord comprend un acompte non remboursable de 1 million de dollars américains et couvre une superficie de 25,42 km².
Le projet combine l'extraction de marbre avec la génération d'énergie renouvelable, tirant parti des ressources solaires supérieures du Queensland avec plus de 300 jours de soleil par an et une irradiation solaire de 5,5-6,0 kWh/m²/jour. NQ Marble possède actuellement 141 blocs de marbre pesant 2 800 tonnes, évalués entre 800 et 1 000 AUD par tonne.
Le modèle à double objectif vise à maximiser l'utilisation des terres en réutilisant des zones de carrière inactives pour des opérations de minage de cryptomonnaies alimentées par l'énergie solaire, avec l'excédent d'énergie stocké dans des systèmes de batteries. L'initiative servira le secteur de la construction résidentielle en Australie tout en faisant progresser des pratiques industrielles durables.
Wang & Lee Group (NASDAQ: WLGS) hat einen Vertrag über 71 Millionen US-Dollar mit NQ Marble abgeschlossen, um Marmorabbauoperationen durchzuführen und eine Solar-Krypto-Farm in Queensland, Australien, zu entwickeln. Der Vertrag umfasst eine nicht erstattungsfähige Anzahlung von 1 Million US-Dollar und erstreckt sich über 25,42 km² Land.
Das Projekt kombiniert die Marmorgewinnung mit der Erzeugung erneuerbarer Energie und nutzt die überlegenen Solarressourcen von Queensland mit über 300 Sonnentagen jährlich und einer Solarstrahlung von 5,5-6,0 kWh/m²/Tag. NQ Marble besitzt derzeit 141 Marmorblöcke mit einem Gewicht von 2.800 Tonnen, die mit 800-1.000 AUD pro Tonne bewertet werden.
Das Modell mit doppeltem Zweck zielt darauf ab, die Landnutzung zu maximieren, indem ungenutzte Abbaugebiete für solarbetriebene Kryptowährungs-Mining-Operationen umgenutzt werden, wobei überschüssige Energie in Batteriesystemen gespeichert wird. Die Initiative wird den Wohnungsbau in Australien unterstützen und gleichzeitig nachhaltige industrielle Praktiken vorantreiben.
- Secured major US$71M contract with US$1M non-refundable deposit
- Dual revenue streams from marble sales and crypto mining
- Access to 141 premium marble blocks worth AUD800-1,000/tonne
- Exclusive rights to 25.42 km² land development
- High dependence on solar conditions for crypto operations
- Significant capital investment required for dual operations
- Crypto mining revenue subject to cryptocurrency market volatility
Insights
Wang & Lee Group's US$71 million contract with NQ Marble represents a potentially transformative development for WLGS, with the contract value approaching 82% of the company's current $87 million market capitalization. The receipt of a $1 million non-refundable deposit demonstrates immediate commitment from NQ Marble and provides near-term cash flow.
This dual-purpose business model creates two distinct revenue streams: traditional marble quarrying from NQ Marble's 25.42 km² Queensland sites and cryptocurrency mining powered by solar energy. NQ Marble's existing inventory of 2,800 tonnes of marble (valued at AUD800-1,000 per tonne) provides immediate marketable assets, while the solar crypto operations leverage Queensland's exceptional solar resources (5.5-6.0 kWh/m²/day).
The strategic value of this contract extends beyond immediate revenue. By repurposing idle quarry land for renewable energy generation, WLGS maximizes asset utilization while positioning itself within Australia's growing renewable energy sector. The company's pursuit of additional marble expertise partners indicates recognition of capability gaps that need addressing for successful execution.
While the contract size and innovative dual-purpose approach present significant upside potential, investors should monitor execution closely. Successfully managing both traditional resource extraction and advanced renewable energy operations simultaneously will require strong operational discipline across disparate business segments. The company's ability to scale both operations while maintaining cost controls will be a key determinant of long-term value creation from this landmark agreement.
Historic partnership combines sustainable resource extraction with renewable energy innovation, driving growth in Australia’s marble quarrying and green tech sectors
Hong Kong, March 06, 2025 (GLOBE NEWSWIRE) -- Wang & Lee Group, Inc. (Nasdaq: WLGS), a multinational leader in sustainable infrastructure and resource development, today announced it has been awarded a US
Synergizing Marble Production and Renewable Energy
Under the agreement, WLGS will leverage its expertise to extract high-value marble from NQ Marble’s existing sites while simultaneously developing a state-of-the-art solar battery crypto farm across idle portions of the land. Queensland’s exceptional solar exposure—averaging over 300 days of sunshine annually—positions the region as an ideal hub for renewable energy projects. The solar farm will power cryptocurrency mining operations, with excess energy stored in advanced battery systems to ensure uninterrupted productivity and reduce reliance on fossil fuels.
Key Benefits of the Dual-Purpose Model:
- Maximizing Land Utility: By repurposing idle quarry areas for solar energy, the project avoids leaving vast tracts of land underutilized, generating dual revenue streams from marble sales and crypto mining operations.
- Sustainable Growth: The solar crypto farm aligns with Australia’s renewable energy targets, reducing carbon emissions while supporting the booming demand for “green” blockchain technologies.
- Economic Value: WLGS will derive revenue from both marble sales and crypto mining, enhancing profitability across the project’s lifecycle.
Capitalizing on NQ Marble’s Existing Assets and Market Position
NQ Marble has around 141 large natural marble blocks, weighing approximately 2,800 tonnes (priced at AUD800–1,000 per tonne), which are prized for their use in premium architectural projects globally, including Adelaide University’s installations and Jowin Group’s luxury “BIANCO FANIELLO” hotel developments in China. WLGS will expand production to meet surging demand from Australia’s home building sector, which is experiencing record growth driven by urbanization and infrastructure investments.
Strategic Collaboration for “Made in Australia” Excellence
WLGS and NQ Marble are actively seeking partnerships with marble quarrying experts and industry professionals to optimize site operations and develop premium “Made in Australia” marble products. This collaboration aims to:
- Enhance technical expertise in marble extraction, processing, and design.
- Expand market share in Asia-Pacific luxury construction markets.
- Drive innovation in sustainable quarrying practices.
Quotes from Leadership
Mr. Ho, CEO of Wang & Lee Group, stated: “This contract represents a transformative step for WLGS, merging traditional resource extraction with cutting-edge renewable technology. Queensland’s solar potential and NQ Marble’s premium assets create a unique opportunity to deliver value to shareholders while advancing global sustainability goals.”
Mr. Cheng, Managing Director of NQ Marble, added: “Partnering with WLGS allows us to maximize the potential of our sites without compromising on environmental stewardship. The solar crypto farm ensures every hectare contributes to our financial and ecological objectives.”
For media inquiries, contact:
WANG & LEE GROUP, Inc.
Website: https://www.wangnleegroup.com/
Email: ir@wangleegroup.com
This press release contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially.
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FAQ
What is the value of Wang & Lee Group's (WLGS) new contract with NQ Marble?
How much marble inventory does NQ Marble currently have for WLGS to process?
What is the size of the Queensland land area covered in WLGS's dual-purpose project?
How does WLGS plan to generate dual revenue streams in the Queensland project?
What are the solar energy advantages for WLGS's crypto mining operations in Queensland?
