Code Chain New Continent Limited, a vertically integrated cryptocurrency miner, announced that it has entered into a major order agreement (the “Agreement”) with AGM Group Holdings Inc. (“AGMH”) (NASDAQ: AGMH).
Pursuant to the Agreement, the Company will purchase 10,000 units of KOI Miner 100 TH/S mining machines from AGMH, for a purchase price of US$65 million. The mining machines are expected for delivery during the second half of 2022. Code Chain also has an option to purchase 10,000 additional units.
AGMH is an integrated technology company focusing on providing Fintech software services and producing high-performance hardware and computing equipment. This order will utilize AGMH’s hardware technologies to bolster Code Chain’s business growth, as well as to extend support for building a blockchain ecosystem.
Mr. Tingjun Yang, Chief Executive Officer of Code Chain, commented, “We are excited to partner with AGMH. The collaboration will provide us with a long-term and stable supply of mining equipment, marking a major milestone in our continued mining expansions. Code Chain is dedicated to seeking innovative cryptocurrency technologies and enriching its cryptocurrency portfolio following its deployment of 10,000 Bitcoin mining machines and purchase of Filecoin mining asset earlier this year. We look forward to working with the AGMH team well into the future.”
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Mr. Chenjun Li, Co-Chief Executive Officer of AGMH, said “This order will strengthen our ability to serve a growing and broad customer base. We can further enhance our expertise, technology, and talent to explore opportunities while helping our clients to innovate and thrive in the evolving market.”
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