Code Chain New Continent Limited (CCNC) stock surged 6.48% in the pre-market trading session at the price of $1.15 despite no fundamental reason.
CCNC is a miner of vertically integrated cryptocurrency. It works on the research and development of electronic tokens to connect the five-W elements and identity data using Code Chain technology.
CCNC Announced Major Order Agreement with AGMH
On 2nd November 2021, CCNC published that it had signed a major order agreement with AGM Group Holdings Inc. Under the deal, Code Chain will buy 10,000 units of KOI Miner 100 TH/S mining machines for $65 million from AGM Group Holdings. The mining machines have expected to deliver by the second half of 2022. The company has also given an option to purchase additional 10,000 units.
Management Comments
Chief Executive Officer of CCNC, Mr. Tingjun Yang, stated that they are delighted to collaborate with AGM Group Holdings. The partnership will grant them a long-term and steady supply of mining machines. Following the purchase of 10,000 mining machines, the company will explore innovative technologies and enrich its cryptocurrency portfolio. They look onward to working with the AGMH team in the future, he added.
Co-Chief Executive Officer of AGMH, Mr. Chenjun Li, commented that this deal would strengthen their capacity to serve a highly growing customer base. They will improve their technology, expertise, and ability to explore opportunities while serving their customers in the evolving market.
CCNC Reported Completion of Asset Purchase
On 4th October 2021, CCNC announced the completion of its filecoin mining asset purchase agreement. The company has earlier entered into an asset purchase deal with Shenzhen Jindeniu Electronics Limited on 27th September 2021. The purchased assets worth 15.9 million include storage servers for cloud computing. All the assets have been delivered, and the transaction has been completed by 27th September 2021.
Management Comment
Co-CEO of the Company, David (Weidong) Feng, remarked that with this successful completion of asset purchase, the company would continue exploring the mining opportunities to expand and enrich its cryptocurrency portfolio. This purchase will improve mining operations, create shareholder value, and drive significant growth, he added.
