Nature’s Miracle Holding Inc Launches NM Data Inc and Announces $3 Million Investment in Future Tech, Inc to Develop a 50MW Bitcoin Mining and Data Center Facility in Ohio
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, said:
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.”
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Nature’s Miracle Holding Inc Launches NM Data Inc and Announces $3 Million Investment in Future Tech, Inc to Develop a 50MW Bitcoin Mining and Data Center Facility in Ohio, source
