Powerbridge Technologies Co., Ltd. (PBTS) Expanding its Blockchain Business to Engage in Cryptocurrency Mining

Rhea-AI Summary

Powerbridge Technologies (Nasdaq: PBTS) announced its plans to enter the cryptocurrency mining sector, focusing on Bitcoin (BTC) and Ethereum (ETH). The company aims to establish a global mining operation supported by a team of industry veterans. President Stewart Lor expressed optimism about the cryptocurrency market, emphasizing that their mining initiative will contribute significantly to their blockchain strategy and facilitate growth through valuable digital assets. Powerbridge is also involved in SaaS solutions and blockchain applications.

Positive

• Engagement in cryptocurrency mining for Bitcoin and Ethereum, signaling diversification.
• Establishment of a team of industry veterans to enhance mining operations.
• Optimistic outlook on the cryptocurrency market, suggesting potential growth opportunities.
• Focus on building a clean energy-based mining network, aligning with sustainability trends.

Negative

• None.

ZHUHAI, China, Aug. 12, 2021 /PRNewswire/ -- Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) ("Powerbridge" or the "Company") is pleased to announce that Powerbridge plans to invest and engage in the cryptocurrency mining for Bitcoin (BTC) and Ethereum (ETH) with planned operations globally. The Company has assembled a team of industry veterans in cryptocurrency and technology to support the development and growth of its digital asset business.

Stewart Lor, President and Chief Financial Offer commented: We are optimistic about the positive outlook of the cryptocurrency market. Our initiative to engage in crypto mining is an important part of our overall blockchain strategy. We strive to continually build a clean energy based BTC and ETH mining network globally. We believe our crypto mining business will generate valuable digital assets that help accelerate the Company's growth.

ABOUT POWERBRIDGE

Powerbridge Technologies Co., Ltd., a Nasdaq listed technology company is primarily engaged in providing SaaS solutions (Powerbridge SaaS) and Blockchain applications (Powerbridge Blockchain). Powerbridge Blockchain consists of BTC and ETC cryptocurrency mining, IPFS distributed network services, and industry specific blockchain applications. Powerbridge SaaS integrates AI, big data, and IoT technologies to provide SaaS platforms for global trade and cross-border e-commerce, supply chain, data intelligence and IoT applications.

View original content:https://www.prnewswire.com/news-releases/powerbridge-technologies-co-ltd-pbts-expanding-its-blockchain-business-to-engage-in-cryptocurrency-mining-301354147.html

SOURCE Powerbridge Technologies

FAQ

What is Powerbridge Technologies' new initiative as of August 2021?

Powerbridge Technologies plans to invest in cryptocurrency mining for Bitcoin and Ethereum.

What is the significance of Powerbridge's investment in cryptocurrency mining?

The investment represents a diversification strategy and a commitment to expanding its blockchain business.

Who is leading Powerbridge's new cryptocurrency mining initiative?

A team of industry veterans has been assembled to support the development of the cryptocurrency mining operations.

How does Powerbridge Technologies plan to operate its cryptocurrency mining business?

Powerbridge aims to create a globally operated, clean energy-based mining network.

What is the stock symbol for Powerbridge Technologies?

The stock symbol for Powerbridge Technologies is PBTS.