AGM Group Holdings partners with Nowlit to expand in AI and crypto markets

AGM Group Holdings, through its subsidiary AGM Canada, has entered into a partnership agreement with Nowlit Solutions, a computing and data center supplier in Canada on October 2, to establish a joint venture named AGM Energy. AGM Energy is expected to focus on investing in and operating in clean energy industries and providing high-quality services for the construction and operation of power and data center facilities for the artificial intelligence, big data industries, cryptocurrency, and digital currency industries. AGM Energy plans to invest in and operate clean energy including oil fields, natural gas fields, and hydropower plants in Canada. AGM Energy intends to actively promote two aspects of business: acquiring high-quality energy assets in North America, and providing electricity and operation capabilities to customers in the AI and cryptocurrency industries. CEO Bo Zhu commented: “We plan to invest no less than $30M by the end of 2024 and no less than $100M by the end of 2025 to support the business growth of AGM Energy. By the end of 2025, AGM Energy expects to generate no less than $50M in revenue from its energy business and no less than $100M in revenue from IDC data centers and cryptocurrency mining farms.”