AGM Group Announces Strategic Initiative to Establish Manufacturing Base in North America
US Eastern time: 2021-11-11 21:30
Beijing China, Nov. 11, 2021 /PRNewswire/ -- AGM Group Holdings Inc (“AGMH” or the “Company”) (NASDAQ: AGMH), an integrated technology company focusing on providing fintech software services and producing high-performance hardware and computing equipment, announced today that the Company is exploring strategic opportunities to set up its North American manufacturing operations in the United States or Canada to strengthen the company's leadership position in the Bitcoin mining sector.
This move is part of AGMH’s ongoing efforts to expand its global footprint in the cryptocurrency mining machine industry and signifies a new stage of growth. North America in particular is a key region for Bitcoin mining where establishing a manufacturing base will bring the Company closer to customers, streamline the supply chain, and mitigate the impact of global logistics issues while accelerating local market penetration. Pittsburgh and Seattle are among cities the Company is considering for this manufacturing base, which is potentially expected to accommodate AGMH’s R&D lab, hardware production, assembly lines, and business development team.
This strategic initiative is led by Mr. Bo Zhu, Chief Strategy Officer of AGMH. Mr. Zhu has extensive knowledge in the local North American customer base and networks. As a first step in reaching into the North American industry network, AGMH has sent some sample components of mining machines to local manufacturers for production tests and manufacturing base selection.
Mr. Chenjun Li, Co-Chief Executive Officer of AGMH, commented: “We are committed to developing and producing high-performance mining hardware and software overseas to engage a broader range of clients. The new manufacturing base will play a critical role in our North American side of operations in the mining machine business and spur our next stage of growth.”
About AGM Group Holdings Inc.
Incorporated in April 2015 and headquartered in Beijing, China, AGM Group Holdings Inc. (NASDAQ: AGMH) is an integrated technology company focusing on providing fintech software services and producing high-performance hardware and computing equipment. AGMH's mission is to become one of the key participants and contributors in the global fintech and blockchain ecosystem. For more information, please visit www.agmprime.com.
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