AGM Group jumps on partnership for crypto mining

AGM group

26/10/2021 14:08

** Shares of fintech software services firm  AGMH.O  up 9.3%
premarket at $12 
    ** Co enteres into a strategic partnership with China-based
Meten Holding Group  METX.O  for blockchain and cryptocurrency
mining
    ** Partnership will primarily focus on R&D support for
blockchain applications, and in establishing a supply chain for
cryptocurrency mining
    ** Agreement includes an initial order from Meten for 1,500
bitcoin-mining machines worth $12 mln with an option to purchase
additional machines
    ** METX shares jump 18.4% premarket to $4 per share, highest
since October 2020
    ** Up to Monday's close, AGMH lost ~28% and METX has dropped
~81% YTD

 (Reporting by Shashank Nayar in Bengaluru)
 ((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2256;))