Upon Completion of the Investment, this
facility will have a 50MW capacity for Bitcoin
Mining
ONTARIO,
Calif., Nov. 25, 2024 /PRNewswire/
-- Nature's Miracle Holding Inc. (NASDAQ: NMHI)
("Nature's Miracle" or the "Company"), announced today it has
formed NM Data Inc., a Nevada Corporation and 100%
subsidiary, to develop and acquire Bitcoin mining
facilities. NM Data has signed an agreement to invest up to
$3 million in Future Tech
Incorporated ("Future Tech"), an Ohio-based company, to develop and build up to
50MW of Bitcoin mining and data center hosting
facilities at Stryker, Ohio. With
the $3 million investment, NM Data,
Inc will own 51% of Future Tech, Inc.
The initial investment is $200,000
and the additional $2,800,000 is to
be paid within 12 months of the initial closing. The closing of the
investment of the $3 million is
subject to Future Tech's executing an Electricity Sales and
Purchase Agreement with a certain supplier set forth in the
agreement and Future Tech entering into a ten-year lease option to
purchase indoor space as set forth in the agreement. NM Data will invest additional capital to
complete the 50MW bitcoin mining facility.
According to James Li, Chairman
and CEO, "With Bitcoin's price approaching
$100,000, Bitcoin has
become an important asset class attracting public companies,
investment funds and banks around the world. With the new
administration under President-elect Trump coming to office next
year, crypto mining in the U.S is expected to continue
to gain traction. We have been working with the Future Tech team
since March of this year to develop the business plan for a
bitcoin mining and data center facility at
Stryker, where Future Tech will
access to up to 50MW of electricity supply at a favorable rate.
With the significant magnitude in demand for bitcoin
mining and data center development, we are extremely excited about
the potential of this project."
About Nature's Miracle Holding Inc.
Nature's Miracle (www.Nature-Miracle.com) is a growing
agriculture technology company providing equipment and services to
growers in the Controlled Environment Agriculture ("CEA") industry
which also includes vertical farming in North America. The Company has recently formed
Hydroman Electric Corporation to service the growing commercial and
agriculture electric vehicle in the U.S. and NM Data, Inc to
develop bitcoin mining and data center hosting
facilities in the U.S.
About Future Tech Incorporated.
Future Tech is a growing technology company specializing in the
development of data centers, Bitcoin mining centers
and Artificial Intelligence data centers. It previously built and
sold a 10MW data center and has worked with regulatory agencies,
electric power suppliers and heavy users of data centers over the
last four years. Future Tech is based in Toledo, Ohio.
Forward-Looking Statements
The information in this press release includes "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include, but are not
limited to, statements regarding expectations, hopes, beliefs,
intentions or strategies regarding the future. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "contemplate," "continue," "could,"
"estimate," "expect," "forecast," "intends," "may," "will,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements in this press release may include, for example: the
intended use of proceeds from the offering; successful launch and
implementation of Nature's Miracle's joint projects with
manufacturers and other supply chain participants of steel, rubber
and other materials; changes in Nature's Miracle's strategy, future
operations, financial position, estimated revenues and losses,
projected costs, prospects and plans; Nature's Miracle's ability to
develop and launch new products and services; Nature's Miracle's
ability to successfully and efficiently integrate future expansion
plans and opportunities; Nature's Miracle's ability to grow its
business in a cost-effective manner; Nature's Miracle's product
development timeline and estimated research and development costs;
the implementation, market acceptance and success of Nature's
Miracle's business model; developments and projections relating to
Nature's Miracle's competitors and industry; and Nature's Miracle's
approach and goals with respect to technology. These
forward-looking statements are based on information available as of
the date of this press release, and current expectations, forecasts
and assumptions, and involve a number of judgments, risks and
uncertainties. Accordingly, forward-looking statements should not
be relied upon as representing views as of any subsequent date, and
no obligation is undertaken to update forward-looking statements to
reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws. As a
result of a number of known and unknown risks and uncertainties,
actual results or performance may be materially different from
those expressed or implied by these forward-looking statements.
Some factors that could cause actual results to differ include: the
ability to maintain the listing of the Company's shares on Nasdaq;
changes in applicable laws or regulations; the effects of the
coronavirus (COVID-19) and any future outbreaks on Nature's
Miracle's business; the ability to implement business plans,
forecasts, and other expectations, and identify and realize
additional opportunities; the risk of downturns and the possibility
of rapid change in the highly competitive industry in which
Nature's Miracle's operates; the risk that Nature's Miracle's and
its current and future collaborators are unable to successfully
develop and commercialize Nature's Miracle's products or services,
or experience significant delays in doing so; the risk that the
Company may never achieve or sustain profitability; the risk that
the Company will need to raise additional capital to execute its
business plan, which may not be available on acceptable terms or at
all; the risk that the Company experiences difficulties in managing
its growth and expanding operations; the risk that third-party
suppliers and manufacturers are not able to fully and timely meet
their obligations; the risk that Nature's Miracle's is unable to
secure or protect its intellectual property; the possibility that
Nature's Miracle's may be adversely affected by other economic,
business, and/or competitive factors; and other risks and
uncertainties described in Nature's Miracle's filings from time to
time with the SEC.
Contacts
George
Yutuc
Chief Financial Officer
George.Yutuc@nature-miracle.com
MZ North America
Shannon
Devine / Rory Rumore
Main: 203-741-8811
NMHI@mzgroup.us
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SOURCE Nature's Miracle Holding Inc.