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AGM Receives Second Batch of Orders for ASIC Miners

The order from MinerVa builds on a previous deal for 30,000 units of ASIC crypto miners to Nowlit Solutions.

Updated May 11, 2023, 4:02 p.m. Published Oct 21, 2021, 2:47 p.m.

AGM Group, a fintech software-service and hardware provider, said it received an order for 25,000 of its 100 terahash-per-second ASIC miners from MinerVa Semiconductor.

The Beijing-based company will get $20 million in deposit, with the rest paid before delivery starts, according to a statement. The company didn’t disclose the total amount for the deal.
“The purchase enables us to increase our cash flow, which gives us a sound financial footing as we begin our plans for mass production in 2022,” said recently appointed Steven Sim, the company’s chief financial officer.
MinerVa is a high-performance ASIC design and manufacturing company that provides technology services to notable global blockchain players including Terawulf and TrueNorth Data Solutions.
On Oct. 13, AGM Group signed a deal to supply 30,000 units of 100 TH/s ASIC crypto miners to Nowlit Solutions .
The stock of AGM Group (AGMH) was up 3.2% on Wednesday at 10 a.m. in New York.

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Aoyon Ashraf

Aoyon Ashraf is CoinDesk's managing editor for Breaking News. He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering. He holds ETH and BTC, as well as ALGO, ADA, SOL, OP and some other altcoins which are below CoinDesk's disclosure threshold of $1,000.