Powerbridge Technologies to Expand its Cryptocurrency Mining Operations into North America
Powerbridge Technologies (PBTS) announced plans to expand its cryptocurrency mining operations into North America, targeting a facility in Canada capable of hosting up to 20,000 BTC and ETH mining rigs. This move is supported by favorable Canadian government incentives for the crypto industry, aligning with Powercrypto's goals of establishing efficient, environmentally friendly operations. President Stewart Lor emphasized that this expansion represents a significant milestone for the company, intending to leverage green energy for enhanced operational efficiency.
- Expansion into North America, specifically Canada, enhances market presence.
- Ability to host up to 20,000 BTC and ETH mining rigs indicates significant operational scale.
- Support from the Canadian government presents favorable conditions for crypto operations.
- None.
ZHUHAI, China, Dec. 16, 2021 /PRNewswire/ -- Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) ("Powerbridge" or the "Company"), a SaaS solutions and Blockchain applications provider, today announced that its wholly owned subsidiary, Powercrypto Holdings ("Powercrypto") planned to expand its cryptomining business into North America.
Powercrypto is working with its local partner in bidding for a facility in Canada with the capacity to host up to 20,000 BTC and ETH mining rigs, powered by a sustainable and green energy supply. The Canadian government has been very supportive to the cryptocurrency industry, which provides incentives to Powercrypto to set up cryptomining fleets there. Powercrypto is also actively seeking more efficient and environmentally friendly mining sites in North America and Asia for its cryptomining operations.
Powerbridge Technologies President, Stewart Lor, commented: "This decision will be an important milestone for our efforts in further strengthening our crypto business. We are thrilled to be positioning ourselves in Canada, as we believe the infrastructure and green energy supply are ideal for us to manage the BTH and ETH mining operations more efficiently."
About Powerbridge Technologies
Powerbridge Technologies Co., Ltd., a growth-driven technology company is primarily engaged in SaaS solutions and Blockchain applications. Powerbridge SaaS integrates AI, big data, and IoT offering SaaS platforms for cross-border e-commerce, supply chain, data intelligence, and IoT applications and devices. Powerbridge Blockchain consists of BTC and ETC mining and digital assets, IPFS distributed network services, and industry-specific Blockchain applications. For more information, visit www.powerbridge.com/ir/.
FORWARD-LOOKING STATEMENT
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws, including, but not limited to, our expectations for future financial performance, business strategies or expectations for our business. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Company cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Words such as "may," "can," "should," "will," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "target," "look" or similar expressions may identify forward-looking statements. There is no assurance that the supercomputing center will be established as planned, when it will start operation nor any of the planned activities will be implemented by the supercomputing center. Specifically, forward-looking statements may include statements relating to the Company's: ability to execute its business plan; changes in the market for Company's products and services; andexpansion plans and opportunities.
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For more information, please contact:
Investor Relations:
Powerbridge Technologies
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SOURCE Powerbridge Technologies
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