AGM Group Holdings Embarks on Ambitious Green Energy Venture
In a strategic move to expand its presence in the rapidly evolving artificial intelligence and data center market in North America, AGM Group Holdings (AGMH) has signed an investment intention agreement with Canadian partner, Nowlit Solutions. This partnership aims to provide green energy data center and cryptocurrency computing power, aligning with AGMH’s long-term growth strategy.
Unlocking the Potential of Green Energy Data Centers
Nowlit Solutions will contribute its existing 50 megawatts data center assets to AGM Energy Corp., a Canadian joint venture co-founded by AGMH and Nowlit. Led by Nowlit’s founder, Mr. Ma, the JV is poised to significantly expand its capacity. The initial 50MW contribution will enable the data center to host over 6,800 high-performance computing servers, providing an estimated computing power of 2,457 petahashes.
Aggressive Expansion Plans
AGM Energy Corp. plans to develop additional data centers in Canada incrementally over the next two years, adding an average of 20MW per month, with a total projected capacity of 375MW. Furthermore, the JV aims to leverage upstream and downstream industry partnerships to enhance computing power. The total computing power capacity of these data centers is expected to reach 18,427P within two years.
A Strategic Move in the AI and Data Center Market
This initiative marks a significant milestone in AGMH’s expansion plans, as the company seeks to capitalize on the growing demand for green energy data centers and cryptocurrency computing power in North America. With its sights set on becoming a leading player in the AI and data center market, AGMH is well-positioned to drive growth and innovation in this rapidly evolving space.
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