The following excerpt is from the company's SEC filing.
Code Chain New Continent Announces Major Order Agreement
with AGMH for Mining Operation Expansion
NEW YORK, November 02, 2021 -- Code
Chain New Continent Limited (the “Company” or “Code Chain”) (NASDAQ: CCNC),
a vertically integrated
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
Mr. Chenjun Li, Co-Chief Executive
Officer of AGMH
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.”
About Code Chain New Continent Limited
Code Chain New Continent Limited engages in the research, design,
and development of electronic tokens that combine the five-W elements (when, where, who, why, what), geographic location via the Beidou
satellite system, and identity information using Code Chain technology. The electronic tokens are unique, tradable, and inheritable digital
assets and cannot be tampered with. The electronic tokens are based on and stored in the Code Chain system and can be used to monitor
and document all kinds of consumer behaviors that involve code-scanning. The Company has recently diversified its business into Bitcoin
mining and is committed to becoming a vertically integrated cryptocurrency miner.
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.
Safe Harbor Statements
This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995, including certain plans, expectations, goals, and projections,
which are subject to numerous assumptions, risks, and uncertainties. These forward-looking statements may include, but are not limited
to, statements containing words such as "may," "could," "would," "plan," "anticipate,"
"believe," "estimate," "predict," "potential," "expects," "intends", "future"
and "guidance" or similar expressions. These forward-looking statements speak only as of the date of this press release and
are subject to change at any time. These forward-looking statements are based upon management's current expectations and are subject to
a number of risks, uncertainties and contingencies, many of which are beyond the Company's control that may cause actual results, levels
of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements
expressed or implied by such forward-looking statements. The Company's actual results could differ materially from those contained in
the forward-looking statements due to a number of factors, including those described under the heading "Risk Factors" in the
Company's public filings with the Securities and Exchange Commission, including the Company's annual report on 10-K. The Company
undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or
otherwise, except as required under applicable law.
For more information, please contact:
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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