SOS Announces the Receipt of the Second Batch of 5000 Pieces of Crypto Mining Rigs
SOS Limited (NYSE: SOS), based in Qingdao, China, announced on February 24, 2021, the receipt of 5,000 crypto mining rigs. These rigs are expected to generate approximately 175P of BTC Hash Power and 350G of ETH Hash Power, with a promising long-term ROI anticipated despite recent cryptocurrency price fluctuations. Chairman Yandai Wang remains optimistic about the upward trend in cryptocurrency values, citing institutional investor support. The company aims to expand its blockchain and cryptocurrency initiatives, supported by a significant membership base in China.
- Received 5,000 crypto mining rigs, enhancing mining capacity.
- Projected generation of 175P BTC Hash Power and 350G ETH Hash Power.
- Anticipated long-term ROI is promising despite market fluctuations.
- Chairman expresses confidence in the upward trend of cryptocurrency values.
- None.
QINGDAO, China, Feb. 24, 2021 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company" or "SOS") announced today the receipt of the second batch of 5000 PCS of crypto mining rigs.
On the same date the second batch of 5000 PCS of mining rigs were received, the SOS team kicked off the configurations and installations, which are expected to be completed very soon. Once this batch of mining rigs goes live, we expect the pool of 5000 PCS will be able to generate about BTC Hash Power 175P and ETH Hash Power 350G. If the machine operates as expected, the long-term ROI (return on investment) is projected to be promising, despite recent pullbacks of cryptocurrency prices.
Mr. Yandai Wang, Chairman of SOS, commented, "Although the cryptocurrency prices, such as BTC prices, might continue to fluctuate, we believe the big general trend for and cycle of cryptocurrencies are still upward. As institutional investors have been becoming one significant driving force behind cryptocurrencies, such as BTC and ETH, which will be utilized as a hedge against ongoing quantitative easing by sovereign currencies, therefore, we remain committed to be very confident about our long-term strategic investment in cryptocurrencies operation."
About SOS Limited
SOS is an emerging blockchain-based and big data-driven marketing and solution provider, with a nationwide membership base of approximately 20 million in China. Recently, SOS has outlined its strategy in blockchain and cryptocurrencies, which include a series of initiatives to expand its business into cryptocurrency mining as well as cryptocurrency security and insurance. The core infrastructure of SOS' marketing data, technology and solutions to insurance and emergency rescue services is built on big data, blockchain-based technology, cloud computing, AI, satellite, and 5G network, etc. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services, with three major product categories: basic cloud, cooperative cloud, and information. This system provides innovative marketing solutions to clients such as insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, security providers, senior living assistance providers, and other service providers in the emergency rescue services industry.
SOS has obtained a national high-tech enterprise certification and the title of "Big Data Star Enterprise," awarded by Gui'an New District Government. Staying on the forefront of digital technology innovation, the Company has registered 99 software copyrights and 2 patents. For more information, please visit: http://www.sosyun.com/.
Forward-Looking Statements
Certain statements made herein are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include timing of the proposed transaction; the business plans, objectives, expectations and intentions of the parties;, SOS's estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities market acceptance of our products; the ultimate impact of the current Coronavirus pandemic, or any other health epidemic, on our business, our research programs, healthcare systems or the global economy as a whole; our intellectual property; our reliance on third party organizations; our anticipated financial and operating results, including anticipated sources of revenues; our assumptions regarding the size of the available market, benefits of our product offering, product pricing, timing of product launches; management's expectation with respect to future acquisitions; statements regarding our goals, intentions, plans and expectations, including the introduction of new products and markets; and our cash needs and financing plans and etc. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. SOS may not realize its expectations, and its beliefs may not prove correct. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC, including our Annual Report on Form 20-F for the fiscal year ended December 31, 2019. SOS's SEC filings are available publicly on the SEC's website at www.sec.gov. SOS disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE SOS Limited
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