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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 Know-how Co. for patent infringement. Canaan has requested each corporations halt their infringing follow and compensate for financial losses and bills to the tune of RMB 90 million.
The patent in query was filed by Canaan Know-how and registered by the China Nationwide Mental Property Administration and stays legally legitimate to today.
Within the enchantment, 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 present 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 deliver the most recent era chips and manufacturing companies to the mining business. In September this 12 months, the 2 corporations 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 companies; whereas AGM commits to growing related enterprise clients and full orders of at the least US$100 million throughout the cooperation interval; after reaching the gross sales aim, the 2 sides will construct a three way partnership to improvement 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 supplies chip design, chip analysis, and improvement, and produces crypto mining {hardware}. AGM Group Holdings Inc. which trades on the NASDAQ with the ticker AGMH additionally supplies fintech software program companies. 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 improvement and gross sales of digital elements, 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 improvement, and cryptocurrency miner manufacturing.
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