Benzinga | Oct 28, 2021 08:36AM EDT

Meten Holding Group Announces Strategic Partnership With AGM Group Holdings Inc. For Blockchain And Cryptocurrency Mining Business

Meten Holding Group Ltd. ("Meten" or the "Company") (NASDAQ:METX), one of the leading omnichannel English language training ("ELT") service providers in China with a strategic plan in developing its blockchain and cryptocurrency mining business, today announced that it entered into a strategic cooperation agreement (the "Agreement") with AGM Group Holdings Inc. ("AGMH") (NASDAQ:AGMH), an integrated technology company focusing on fintech software services and high-performance hardware and computing equipment manufacturing, to accelerate the development Meten's blockchain and cryptocurrency mining business.

Pursuant to the Agreement, both parties agree to primarily cooperate on the research and development 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.

Mr. Jason Zhao, Co-Founder and Executive Director of Meten, commented: "We are thrilled to be working with AGMH, a company with excellent design and production capabilities of sophisticated high-performance chipsets and equipment. AGMH, through its strategic partnership with HighSharp (Shenzhen Gaorui) Electronic Technology Co., Ltd., has upgraded its R&D capabilities and built a team of engineers with expertise in blockchain and related technologies. Leveraging AGMH's advanced technology, experienced team and superior quality miners, we believe our partnership will accelerate Meten's development in the field of blockchain and cryptocurrency and further unlock the full potential of our new business initiatives, putting us on the best path to success."