Beijing, China, November 12, 2021 – AGM Group is aware of a lawsuit filed by Canaan on November 3, 2021, which names its affiliate HighSharp and Sichuan Yibimei Technology Co. was charged with patent infringement. Canaan requested that both companies cease infringing and pay RMB 90 millions for their economic loss and expenses.
This patent was originally filed by Canaan Technology, and it has been registered by China National Intellectual Property Administration. It is still legally valid today.
Canaan claimed that the patented process used to create cryptocurrency mining machines, which were manufactured and sold by HighSharp, was involved in the appeal. HighSharp was accused of infringing Canaan’s patent rights by applying an existing, legally protected patent.
HighSharp still has not responded to Canaan’s allegations.
AGM Group And HighSharp
AGM Group and Highsharp entered into a strategic partnership to deliver the latest generation chips to the mining industry in 2021. The two companies signed a six month strategic cooperation agreement in September. Highsharp granted AGM priority access to its new generation of chips; AGM committed to developing business relationships and completing orders exceeding US$100m within the time period. After reaching their sales goals, AGM will form a joint venture that will develop an exclusive chip.
AGM Group Holdings Inc. specializes in financial integration and high-performance chip solutions. Based in Beijing China, AGM Group Holdings Inc. provides high-performance chip solutions, including research, development, and chip design. It also produces crypto mining hardware. AGM Group Holdings Inc. trades on NASDAQ under the ticker AGMH and also offers fintech software services. AGMH is a key player in the global blockchain ecosystem and a contributor.
Found in 2016, HighSharp operates businesses including R&D of servers and computers, machine assembly and sales, as well as the technology development and sales of electronic components, integrated circuits, and instrumentation accessories. Angaomeng Holding, (AGMH.US), is an integrated tech company that focuses primarily on ASIC-based high-performance solutions. This includes chip design, development and production of cryptocurrency miners.