Future FinTech Enters into New Bitcoin Mining Hosting Agreement for its Cryptocurrency Farm in Norwalk, Ohio
Future FinTech Group Inc. (FTFT), a financial and digital technology service provider, signed an agreement with Tech Solution Inc. to provide hosting services for Bitcoin miners in Norwalk, Ohio. The agreement includes models like Antminer S19j Pro with a power load of 4.0 MW. FTFT SuperComputing will offer continuous electrical supply for the miners, aiming for efficient Bitcoin mining.
Future FinTech Group Inc. expanding its operations by entering into a new Bitcoin mining hosting agreement with Tech Solution Inc.
FTFT SuperComputing providing hosting services for Bitcoin miners, enhancing its presence in the cryptocurrency mining industry.
The agreement focusing on cost efficiency, infrastructure, security, and expertise to ensure successful Bitcoin mining operations.
Continuous electrical power supply being provided for the Bitcoin miners, aiming for high uptime and operational efficiency.
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The Agreement specifies that Tech Solution's bitcoin miners would include models such as the Antminer S19j Pro, with a maximum total power load of 4.0 megawatts (MW), although FTFT SuperComputing does not guarantee that the total power load will reach this level. The final calculation of the total server load will be based on the actual number of Bitcoin miner installations. The monthly service fee will be calculated based upon the electricity consumption of Tech Solution's servers and supporting facilities multiplied by the Unit Hosting Fee, with electricity consumption based on the reading of an independent electrical meter installed by Tech Solution to FTFT SuperComputer's servers and the Unit Hosting Fee varies monthly and will be set based on the average Bitcoin monthly price.
FTFT SuperComputing is responsible for providing the hosting site for the Bitcoin miners and Tech Solution is also responsible for the installation, maintenance and operation of the servers and such associated costs. FTFT SuperComputing has also agreed to provide continuous electrical power supply for the bitcoin miners as they are intended to be online
Mr. Sean Liu, General Manager of FTFT SuperComputing, said, "We are pleased to have entered into this agreement with Tech Solution to provide them with our hosting services and the power supply for them to engage in Bitcoin mining on our cryptocurrency mining farm in the
"In December 2021, the Company announced its plan to build a cryptocurrency mining farm in the US, and we subsequently leased the site, developed the plant infrastructure and upgraded the plant's power system. We believe that our hosting services for the mining farm will be successful and generate a substantial return on our investment."
About Future Fintech Group Inc.
Future FinTech Group Inc. (NASDAQ: FTFT) is a comprehensive financial and digital technology service provider. The Company, through its subsidiaries, conducts asset management, brokerage and investment banking services in
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SOURCE Future FinTech Group Inc.
FAQ
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