Beijing, China, November 12, 2021– AGM Group understands a suit submitted by Canaan on November 3, 2021, which names its affiliate HighSharp and Sichuan Yibimei Innovation Co. for patent violation. Canaan has actually asked for both business stop their infringing practice and make up for financial losses and costs to the tune of RMB 90 million.
The patent in concern was submitted by Canaan Innovation and signed up by the China National Copyright Administration and stays lawfully legitimate to this day.
In the appeal, Canaan declared that cryptocurrency mining devices created and made by HighSharp and dispersed by Yimbimei had actually included trademarked procedures held by the business. HighSharp is stated to have actually used existing and lawfully secured patent without getting consent from Canaan, therefore infringing on its patent rights.
HighSharp is yet to make a public reaction to these accusations came up with by Canaan.
AGM Group And HighSharp
AGM Group entered into a strategic partnership in 2021 to bring the most recent generation chips and production services to the mining market. In September this year, the 2 business revealed a six-month tactical cooperation arrangement, the regards to that include that Highsharp will accredit AGM for top priority usage of its newest generation of chips and production services; while AGM devotes to establishing appropriate organization consumers and total orders of a minimum of US$100 million within the cooperation duration; after reaching the sales objective, the 2 sides will construct a joint endeavor to advancement unique chip for AGM.
About AGM Group
AGM Group Holdings Inc., is a monetary combination business concentrated on high-performance chip options. Headquartered in Beijing, China, the business offers chip style, chip research study, and advancement, and produces crypto mining hardware. AGM Group Holdings Inc. which trades on the NASDAQ with the ticker AGMH likewise offers fintech software application services. AGMH intends to be a significant gamer and factor to the worldwide blockchain environment.
About HighSharp
Found in 2016, HighSharp runs companies consisting of R&D of servers and computer systems, device assembly and sales, in addition to the innovation advancement and sales of electronic parts, incorporated circuits, and instrumentation devices. Angaomeng Holding (AGMH.US) is an integrated innovation business that concentrates on high-performance ASIC chip options, consisting of chip style, chip advancement, and cryptocurrency miner production.
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