AGM Group logo

Beijing, China, November 12, 2021 – AGM Group is conscious of a lawsuit filed by Canaan on November 3, 2021, which names its affiliate HighSharp and Sichuan Yibimei  Expertise Co. for patent infringement. Canaan has requested each firms halt their infringing apply and compensate for financial losses and bills to the tune of RMB 90 million.

The patent in query was filed by Canaan Expertise and registered by the China Nationwide Mental Property Administration and stays legally legitimate to this present day.

Within the attraction, Canaan alleged that cryptocurrency mining machines designed and manufactured by HighSharp and distributed by Yimbimei had concerned patented processes held by the corporate. HighSharp is alleged to have utilized current and legally protected patent with out acquiring permission from Canaan, thereby infringing on its patent rights.

HighSharp is but to make a public response to those allegations introduced forth by Canaan.

AGM Group And HighSharp

AGM Group entered right into a strategic partnership in 2021 to carry the newest era chips and manufacturing providers to the mining trade. In September this 12 months, the 2 firms introduced a six-month strategic cooperation settlement, the phrases of which embrace that Highsharp will license AGM for precedence use of its newest era of chips and manufacturing providers; whereas AGM commits to creating related enterprise clients and full orders of at the very least US$100 million throughout the cooperation interval; after reaching the gross sales purpose, the 2 sides will construct a three way partnership to growth unique chip for AGM.

About AGM Group

AGM Group Holdings Inc., is a monetary integration firm targeted on high-performance chip options. Headquartered in Beijing, China, the corporate offers chip design, chip analysis, and growth, and produces crypto mining {hardware}. AGM Group Holdings Inc. which trades on the NASDAQ with the ticker AGMH additionally offers fintech software program providers. AGMH goals to be a significant participant and contributor to the worldwide blockchain ecosystem.

About HighSharp

Present in 2016, HighSharp operates companies together with R&D of servers and computer systems, machine meeting and gross sales, in addition to the expertise growth and gross sales of digital parts, built-in circuits, and instrumentation equipment. Angaomeng Holding (AGMH.US) is an built-in expertise firm that focuses on high-performance ASIC chip options, together with chip design, chip growth, and cryptocurrency miner manufacturing.