Meten rallies on strategic partnership with AGM for blockchain and crypto mining business

Oct. 28, 2021 8:22 AM ETAGM Group Holdings Inc. (AGMH), METXBy: Khyathi Dalal, SA News Editor
  • Meten (NASDAQ:METX) rallies 13.4% higher premarket after it entered into a strategic cooperation agreement with AGM (NASDAQ:AGMH) for accelerating the development Meten's blockchain and cryptocurrency mining business.
  • Post the agreement, both the parties agreed to mainly cooperate on R&D of blockchain applications and the establishment of a supply chain for cryptocurrency mining business.
  • The agreement contains an initial order of AGMH's cryptocurrency mining machines from Meten and an option for Meten to purchase additional machines later.
  • "AGMH, through its strategic partnership with HighSharp (Shenzhen Gaorui) Electronic Technology, has upgraded its R&D capabilities and built a team of engineers with expertise in blockchain and related technologies," Co-Founder and Executive Director Mr. Jason Zhao commented.
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