AGM Group Holdings to acquire Bitcoin mining equipment from Canaan

AGM Group Holdings (AGMH), through its wholly owned Hong Kong subsidiary AGM Technology, entered into a purchase agreement to acquire 2,000 units of Bitcoin mining machines from Canaan (CAN). The purchase of the 2,000 BTC miners became effective as of December 1. Additionally, the company has secured an option to acquire up to approximately 30,000 additional BTC mining units, with a combined power capacity not exceeding 300 megawatts, valid until December 31, 2025. Canaan is a wholly owned subsidiary of Canaan Inc. Established in 2013, Canaan is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services.