CCNC - AGM Group: The Reason For The Bitcoin Mining Equipment Play Downside And What To Do

• Financially, AGM Group Holdings was off to a great Q3, with revenue of $5.34 million, rewarding its foray into Bitcoin equipment manufacturing.
• With its primarily foreign customer base, it was not expected to be affected by China's internal regulatory actions on crypto, until this news about the Biden administration possibly targeting SMIC.
• Now, with SMIC, a Chinese chipmaker (fab) supplying semiconductors to AGMH, the latter could run out of components.
• Being also a designer of chips, AGMH could still source chips from alternative fabs, and its miners are also more efficient than competitors.
• With its strategic intent to start operations in the U.S. and high 2022 potential sales in case it can deliver, the company should be on investors' watchlist.

For further details see: