#Beijing #Canada #Data Centers #AGM Holdings #Nowlit Solutions

AGM Group Holdings and Nowlit Solutions Forge Partnership for Enhanced Computing Capabilities

In a significant move that promises to reshape the landscape of high-performance computing, AGM Group Holdings Inc. (NASDAQ: AGMH) has entered into a strategic partnership with Nowlit Solutions Corp., a Canadian energy technology firm. This collaboration aims to bolster AGM Holdings' presence in the rapidly evolving markets of artificial intelligence and data centers, particularly in North America.

Strategic Collaboration Details

Announced on December 20, 2024, the partnership outlines an investment intention agreement wherein Nowlit will contribute its existing 50 megawatts (MW) data center assets to AGM Energy Corp., a joint venture established by both companies. This initiative is poised to not only strengthen the computing capabilities of AGM Energy but also significantly expand its operational footprint toward sustainability.

Under the terms of the agreement, Nowlit's contribution will enable the data center to accommodate over 6,800 high-performance computing servers, delivering an impressive estimated computing power of 2,457 petahashes (P). Furthermore, the plan involves incremental development of additional data centers in Canada over the next couple of years, with ambitious targets of adding an average of 20MW monthly to ultimately reach a total capacity of 375MW.

Rationale Behind the Partnership

The partnership with Nowlit aligns seamlessly with AGM Holdings' long-term strategy to tap into the burgeoning demands of the digital asset market, while also leveraging green energy solutions. As the demand for energy-efficient data solutions rises—especially with the increasing emphasis on cryptocurrency and artificial intelligence—AGM looks set to capitalize on these trends while promoting environmentally friendly practices.

The joint venture aims to reach a remarkable total computing power capacity of 18,427 petahashes within two years, signifying a robust growth trajectory enabled by upstream and downstream industry partnerships to amplify computing power.

Insights from Industry Leaders

Nowlit's founder, Mr. Ma, emphasized the importance of this venture by stating, “This collaboration not only enhances our data center capabilities but also paves the way for innovative solutions in the green energy sector.” His remarks highlight the crucial intersection of technology, sustainability, and energy solutions.

AGM Holdings' management expressed that the venture vastly strengthens their competitive position in the data center sector, indicating a well-structured approach to meet the dynamic needs of their clients and stakeholders through dedicated hardware and software solutions.

About the Partners

Nowlit Solutions Corp. has been a cornerstone in the energy technology sector since its inception in 2013, specializing in the development and maintenance of data centers and high-performance computing. Their expertise in blockchain ecosystem support, offering necessary hardware and software solutions, has positioned them as a leader in the industry.

AGM Group Holdings Inc., on the other hand, is noted for its innovations in the integration and sales of high-performance hardware. The company is on a mission to become a crucial player in the globally relevant blockchain ecosystem, focusing on research and development of blockchain-oriented Application-Specific Integrated Circuit (ASIC) chips.

Conclusion

As AGM Holdings and Nowlit Solutions embark on this strategic partnership, the expected outcomes suggest a leap forward not just for the companies involved, but also for the broader landscape of energy-efficient computing. This collaboration sets a benchmark for similar ventures aiming for sustainability while driving innovation in high-performance computing.

With this exciting venture on the horizon, industry stakeholders and investors are keenly observing how these developments will unfold and contribute to future market dynamics.