Wang & Lee Group, Inc. (NASDAQ: WLGS) ANNOUNCES US$100 MILLION SALES AGREEMENT WITH LANDOWNERS FOR CRYPTO MINING

Rhea-AI Summary

Wang & Lee Group (NASDAQ: WLGS) has announced a groundbreaking US$100 million sales agreement with Sino Wealth and Hong Kong landowners to establish Hong Kong's first solar-powered crypto battery farm. The project, secured with a US$1 million non-refundable deposit, will span seven land plots, combining renewable energy with crypto-mining operations.

The initiative leverages Hong Kong's solar potential with 3.8-4.2 kWh/m²/day irradiance levels and utilizes Wang & Lee's proprietary lithium-ion battery systems developed with City University of Hong Kong. The project aims to power sustainable crypto-mining operations while supplying clean energy to New Territories villages, supporting Hong Kong's 2050 Carbon Neutrality goals.

The system features AI-driven panels and 24/7 lithium-ion storage, achieving 85% efficiency compared to desert-based projects. With 4,000+ hectares of fallow agricultural land available in Hong Kong, the model is scalable across 40+ potential sites.

Positive

• Secured US$100M sales agreement with US$1M non-refundable deposit
• Proprietary lithium-ion battery technology developed with City University
• 85% efficiency rate compared to desert-based projects
• Scalable model with 40+ potential sites identified
• Dual revenue stream from crypto mining and community energy supply

Negative

• Project success dependent on volatile Bitcoin price expectations
• Lower solar irradiance compared to leading solar markets
• Operational risks in untested combined solar-crypto infrastructure

News Market Reaction

-5.47%

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-5.47% News Effect

On the day this news was published, WLGS declined 5.47%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Hong Kong, March 04, 2025 (GLOBE NEWSWIRE) -- Wang & Lee Group, Inc. (NASDAQ: WLGS), a trailblazer in sustainable energy and blockchain-integrated solutions, today announced a landmark collaboration with Sino Wealth Limited and a consortium of Hong Kong landowners to establish Hong Kong’s first solar-powered crypto battery farm. Spanning seven land plots, this US$100 million revenue project (and the landowners have paid US$1 million as a non-refundable deposit) merges renewable energy and crypto-mining innovation through Wang & Lee’s proprietary ecosystem. This pioneering project taps into Hong Kong’s underutilized solar resources, leveraging average annual solar irradiance of 3.8–4.2 kWh/m²/day—comparable to regions like Japan (3.5–4.0 kWh/m²/day) and exceeding solar leaders Germany (2.8–3.2 kWh/m²/day).

Solar Viability in Hong Kong: A Strategic Opportunity

Despite its subtropical climate, Hong Kong’s 4,000+ hectares of fallow agricultural land (43 million sq. ft) offers ample space to offset lower solar intensity through scalable infrastructure. Advanced lithium-ion battery storage and high-efficiency panels ensure optimal energy capture, enabling competitive crypto-mining yields and clean energy distribution.

Global Solar Context (solar irradiance comparison):

• Hong Kong: 3.8–4.2 kWh/m²/day (moderate potential, ideal for decentralized projects).
• Saudi Arabia: 6.0–6.5 kWh/m²/day (global leader in utility-scale solar).
• Germany: 2.8–3.2 kWh/m²/day (proactive adoption despite lower irradiance).
• Australia: 5.5–6.0 kWh/m²/day (high potential in arid regions).

Project Overview: A Dual-Purpose Green Energy Hub

The project leverages Wang & Lee’s expertise in solar battery technology and its advanced lithium-ion energy storage systems—developed in partnership with City University of Hong Kong—to create a first-of-its-kind facility that:

1. Powers Sustainable Crypto-Mining: Solar energy drives on-site blockchain mining operations, positioning Hong Kong as a leader in low-carbon crypto infrastructure.

2. Supplies Clean Energy to Communities: Renewable electricity will be distributed to villages in the New Territories, reducing reliance on fossil fuels and supporting Hong Kong’s 2050 Carbon Neutrality goals.

The pilot farm demonstrates how Hong Kong’s solar resources can be maximized:

1. Smart Energy Capture: AI-driven panels adjust angles to optimize sunlight absorption, compensating for irradiance levels.
2. 24/7 Lithium-Ion Storage: Ensures consistent power for crypto-mining and community energy needs, even during suboptimal weather.
3. Scalability: With 99.9% of Hong Kong’s fallow land still available, the model is replicable across 40+ potential sites.
   

Strategic Synergy with Existing Technologies

The crypto battery farm integrates Wang & Lee’s proprietary lithium-ion battery systems—originally designed for electric bicycles and robotics—to ensure 24/7 energy stability. This synergy enables efficient power storage during peak sunlight hours, ensuring uninterrupted operations for both mining and community energy supply.

Leadership Commentary

Mr. Ho, CEO of Wang & Lee Group, Inc., stated:

“This project is Hong Kong’s first crypto battery farm accessible to all the villagers in each village in the New Territories. It is also a gateway to a self-sustaining green economy. There are 600 villages in Hong Kong with unoccupied farmland of over 4,000 hectares. Given the recent downturn in the economy and Hong Kong property market, property prices have dropped more than half. Seeing that Hong Kong’s traditional property investment is no longer attractive, we are offering a viable alternative opportunity for landowners to participate in innovative technology to generate crypto income. We believe there is huge potential for building solar powered crypto farms and foresee the price of Bitcoin to rise well above US$100,000. This US$100 million deal with landlords reflects shared confidence in this vision. We are glad that we have been able to come to a mutual agreement with landowners to drive our company to the next era. Wang & Lee, being a fully licensed contracting company, will be heavily involved in the provision of all related services including crypto infrastructure, roads, electrical, mechanical and fire safety.”

Strategic Advantages

• Efficiency: High-efficiency panels and storage mitigate irradiance gaps, achieving 85% of desert-based project yields.
• ESG Alignment: Meets institutional demand for low-carbon crypto infrastructure.
• Land Utilization: Converts idle plots into revenue-generating assets, supporting rural communities.
  

Market Differentiation

- Institutional Appeal: Aligns with ESG-focused investors seeking tech-forward, sustainable revenue streams.

- Scalability: Blueprint for global replication, combining solar and crypto.

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.

FAQ

What is the value of Wang & Lee Group's (WLGS) new crypto mining sales agreement?

WLGS secured a US$100 million sales agreement with a US$1 million non-refundable deposit from landowners for the solar-powered crypto battery farm project.

How much solar irradiance potential does WLGS's Hong Kong crypto mining project have?

The project site has 3.8-4.2 kWh/m²/day solar irradiance, comparable to Japan and exceeding Germany's levels.

What is the efficiency rate of WLGS's solar-powered crypto mining operation?

The project achieves 85% of desert-based project yields through high-efficiency panels and storage systems.

How many potential sites could WLGS expand their crypto battery farm model to?

With 4,000+ hectares of fallow land available in Hong Kong, WLGS can expand to 40+ potential sites.

What dual purpose will WLGS's crypto battery farm serve?

The facility will power sustainable crypto-mining operations and supply clean energy to villages in the New Territories.