Core Viewpoint - Nature's Miracle Holding Inc. is diversifying its portfolio by acquiring a 90% equity interest in J&Y Marigold Ltd., which is developing a Bitcoin mining facility with a total anticipated power load of 14 megawatts [1][3]. Acquisition Details - The acquisition involves a total purchase price of up to $5.32 million, with phase I (9 MW) expected to close in Q1 2025 and phase II (5 MW) in Q2 2025 [2]. - Upon completion, the Bitcoin mining facility is projected to be operational in the first half of 2025 [2][3]. Strategic Importance - This acquisition is seen as a transformative step for the company, allowing it to expand beyond its core focus on agriculture technologies and solidify its presence in the cryptocurrency industry [3]. - The global cryptocurrency market is experiencing significant growth, driven by increased adoption and institutional interest, making Bitcoin mining a critical component for network security and economic opportunities [3]. Company Background - Nature's Miracle is an agriculture technology company that provides products and services in the Controlled Environment Agriculture (CEA) industry and has recently ventured into electric vehicle and Bitcoin businesses [4].
Nature's Miracle Holding Inc. Enters Into Agreement to Acquire Controlling Stake in J&Y Marigold, Bolstering Bitcoin Mining Capabilities