Core Insights - Wang & Lee Group, Inc. has announced a collaboration to establish Hong Kong's first solar-powered crypto battery farm, a US$100 million project that integrates renewable energy with crypto-mining innovation [1][5] - The project aims to utilize Hong Kong's solar resources, with average annual solar irradiance of 3.8–4.2 kWh/m²/day, which is competitive compared to other regions [1][6] - The initiative is positioned as a sustainable solution for both crypto-mining and community energy supply, supporting Hong Kong's 2050 Carbon Neutrality goals [4][10] Project Overview - The solar-powered crypto battery farm will span seven land plots and is designed to power on-site blockchain mining operations, establishing Hong Kong as a leader in low-carbon crypto infrastructure [3][4] - Renewable electricity generated will be distributed to local communities, reducing reliance on fossil fuels [4] - The project leverages advanced lithium-ion battery technology developed in partnership with City University of Hong Kong to ensure energy stability [4][7] Strategic Advantages - The project aligns with ESG-focused investors seeking sustainable revenue streams and offers a scalable model that can be replicated globally [9][10] - High-efficiency solar panels and battery storage systems are expected to achieve competitive yields, even in areas with lower solar intensity [10] - The initiative converts idle agricultural land into revenue-generating assets, benefiting rural communities [10]
Wang & Lee Group, Inc. (NASDAQ: WLGS) ANNOUNCES US$100 MILLION SALES AGREEMENT WITH LANDOWNERS FOR CRYPTO MINING