ONTARIO,
Calif., Dec. 16, 2024 /PRNewswire/ -- Nature's
Miracle Holding Inc. (NASDAQ: NMHI) ("Nature's Miracle" or the
"Company"), a leader in vertical farming technology and
infrastructure, announced today that the Company, through its
wholly owned subsidiary NM Data Inc., has entered into a Stock
Purchase Agreement dated December 14, 2024 (the "Agreement"),
to acquire a 90% equity interest in J&Y Marigold Ltd. ("J&Y
Marigold"), a Toronto-based
company currently developing a Bitcoin mining facility
with anticipated power load of 14 megawatts ("MW"). The acquisition
demonstrates Nature's Miracle's ambition to diversify its portfolio
by venturing into emerging, high-growth industries. By securing a
controlling stake in J&Y Marigold, the Company aims to further
strengthen its Bitcoin mining capacity and position
itself at the forefront of the cryptocurrency
revolution, aligning its business model with cutting-edge
technologies that are shaping the future of global finance.
Pursuant to the Agreement, Nature's Miracle has
agreed to purchase 90% of the fully-diluted shares of J&Y
Marigold Ltd. for an aggregate purchase price of up to $5.32 million. The phase
I (9MW) of the transaction is expected to close in the first
quarter 2025 with phase II (5MW) close in
the second quarter of 2025. Assuming the completion of the
two phases of mining facility development contemplated by the
Agreement, Nature's Miracle would have a bitcoin
mining facility with a total capacity of 14 MW at this location by first half 2025.
Mr. James Li, Chairman and CEO of
Nature's Miracle, commented, "Our acquisition of a majority stake
in J&Y Marigold marks an important milestone in strengthening
our Bitcoin mining vertical, a transformative step in
our journey toward diversification and growth. We expect the 14 MW
Bitcoin mining facility being built by J&Y
Marigold to be operational in the first half of 2025, enabling us
to leverage advanced infrastructure to deliver efficient and
scalable mining capabilities. This strategic acquisition allows us
to expand beyond our core focus on agriculture technologies and
solidify our foundation in the cryptocurrency
industry. The global cryptocurrency market is
experiencing unprecedented growth, fueled by increasing adoption
and heightened institutional interest. Bitcoin mining,
in particular, serves as a critical component in maintaining
blockchain network security and stability while offering
significant economic opportunities. This acquisition represents a
vital step in our broader strategy to foster diversified growth,
enhance operational capabilities, and seize new opportunities in a
fast-evolving global landscape."
About Nature's Miracle Holding Inc.
Nature's Miracle (www.Nature-Miracle.com) is a growing
agriculture technology company providing products and services to
growers in the Controlled Environment Agriculture ("CEA") industry
around the world. The company has recently launched EV and
bitcoin business, all energy dependent as
CEA.
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.
For more information, please contact:
Daphne Y. Huang
Chief Financial Officer
Email: daphne.huang@nature-miracle.com
Ascent Investors Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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SOURCE Nature's Miracle Holding Inc.