Wang & Lee Group to build Hong Kong’s first solar crypto farm

HONG KONG - Wang & Lee Group, Inc. (NASDAQ:WLGS), a company specializing in sustainable energy and blockchain-integrated solutions, has announced a collaboration with Sino Wealth Limited and a consortium of local landowners to establish what will be Hong Kong’s first solar-powered cryptocurrency battery farm. The project, valued at US$100 million in revenue, will utilize seven plots of land and has already secured a US$1 million non-refundable deposit from the landowners.

The initiative aims to harness Hong Kong’s solar energy potential, which is comparable to that of Japan and higher than Germany’s, despite the city’s subtropical climate. With over 4,000 hectares of unused agricultural land available, the project will employ advanced lithium-ion battery storage and high-efficiency panels to maximize energy capture. Wang & Lee’s strong financial health, evidenced by a current ratio of 1.91 and an Altman Z-Score of 5.99, positions it well to execute this ambitious project. (InvestingPro subscribers have access to 12 additional key insights about WLGS’s financial position.) This green energy hub is expected to serve dual purposes: facilitating sustainable crypto-mining operations and providing renewable electricity to communities in the New Territories, aligning with Hong Kong’s 2050 Carbon Neutrality goals.

Wang & Lee’s proprietary technology, developed in partnership with the City University of Hong Kong, will be a cornerstone of the project, ensuring continuous power supply for both crypto-mining and local energy needs. AI-driven panels designed to optimize sunlight absorption and scalable infrastructure are key features that will enable the efficient operation of the farm.

Mr. Ho, CEO of Wang & Lee Group, highlighted the project’s significance for Hong Kong, stating that it represents a gateway to a self-sustaining green economy and offers landowners an innovative alternative to traditional property investments. The company’s expertise in providing comprehensive services, including infrastructure development and safety measures, will be instrumental in the project’s implementation.

The solar crypto farm project is positioned to appeal to ESG-focused investors and institutions looking for sustainable and technologically advanced revenue streams. With the potential for replication across additional sites in Hong Kong, the project sets a precedent for similar developments globally. Based on InvestingPro’s Fair Value analysis, WLGS appears to be trading above its intrinsic value, suggesting investors should carefully consider their entry points. The stock has shown significant momentum, delivering an impressive 881% return over the past six months, though it maintains high price volatility.

This announcement is based on a press release statement by Wang & Lee Group, Inc. It should be noted that forward-looking statements involve risks and uncertainties, and actual results may differ materially.

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