Powerbridge Technologies Invests in High-Performance Crypto Mining Equipment

Rhea-AI Summary

Powerbridge Technologies (NASDAQ: PBTS) has announced the acquisition of 1,200 units of A1346 Avalon Bitcoin Miners as part of its long-term growth strategy in the crypto market. The miners boast a hash rate of 104TH/s, recognized for their performance and reliability. CEO Stewart Lor expressed optimism about the investment's potential to expand the company's presence in the crypto sector and enhance shareholder value. Powerbridge provides a range of technology solutions, including software, IoT services, and cryptocurrency operations.

Positive

• Acquisition of 1,200 A1346 Avalon Bitcoin Miners indicates strategic investment in crypto technology.
• The miners' hash rate of 104TH/s reflects high performance and stability.
• CEO's statement shows confidence in growth and shareholder value enhancement.

Negative

• None.

ZHUHAI, China, April 20, 2023 /PRNewswire/ -- Powerbridge Technologies, a provider of multi-industry technology solutions (Nasdaq: PBTS), has announced its recent acquisition of 1,200 units of A1346 Avalon Bitcoin Miners. The investment aligns with the Company's long-term strategy in the crypto market.

The A1346 Avalon Bitcoin Miners with a hash rate of 104TH/s, are known for their high performance, stability, and ease of use.

Stewart Lor, CEO of Powerbridge Technologies, commented: "We believe that this investment will help us expand our presence in the crypto market. As a leading provider of technology solutions, we will continue to explore new opportunities to accelerate our growth and bring values to our shareholders."

About Powerbridge Technologies

Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) is a leading provider of multi-industry technology solutions. The Company offers software and platform applications, IoT platform services and intelligent devices, supply chain platforms and interactive media services, metaverse and digital services, and cryptocurrency asset operations and services.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may", "will", "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements; specifically, the Company's statements regarding listing on the NASDAQ Capital Market and the IPO are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:
Corporate Investor Relations
Powerbridge Technologies Co., Ltd.
Email: ir@powerbridge.com
Website: www.powerbridge.com/ir/

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SOURCE Powerbridge Technologies Co., Ltd.

FAQ

What is the recent acquisition made by Powerbridge Technologies?

Powerbridge Technologies acquired 1,200 units of A1346 Avalon Bitcoin Miners.

What is the hash rate of the A1346 Avalon Bitcoin Miners acquired by Powerbridge?

The A1346 Avalon Bitcoin Miners have a hash rate of 104TH/s.

How does Powerbridge Technologies plan to benefit from the acquisition of Bitcoin Miners?

The acquisition is intended to expand Powerbridge's presence in the crypto market and enhance shareholder value.

When was the acquisition of Bitcoin Miners announced by Powerbridge Technologies?

The acquisition was announced on April 20, 2023.

What stock symbol is associated with Powerbridge Technologies?

The stock symbol for Powerbridge Technologies is PBTS.