SOS Ltd. Announces Launch of its Super-Computing and Hosting Center in Texas

Rhea-AI Summary

SOS Limited (NYSE: SOS) announced the launch of its Super-Computing and Hosting Center in Fort Stockton, Texas, on March 21, 2023. Phase 1 of the facility currently operates at 10MW with plans to expand to 20MW, hosting around 1,400 servers. The company aims to increase the number of mobile data containers to 42 shortly. Phase 2, expected to be completed later this year, will take total capacity to 50MW. This development reflects SOS's strategy to enhance its North America operations, complementing its existing facility in Wisconsin.

Positive

• Launch of Super-Computing and Hosting Center in Fort Stockton, Texas, expanding operational capacity.
• Phase 1 is set to increase from 10MW to 20MW, enhancing service capacity.
• Plans for Phase 2 to raise capacity to a total of 50MW by later this year.

Negative

• Future operational success depends on regulatory oversight and local government's policies on crypto mining.
• The supercomputing and blockchain segments are still under development with uncertainties in integration.
• Potential increase in operational costs due to power supply issues could negatively impact profitability.

NEW YORK, March 21, 2023 /PRNewswire/ -- SOS Limited (NYSE: SOS) ("Company" or "SOS") today announced launch of its Super-Computing and Hosting Center in Fort Stockton, Texas.

For Phase 1, the site currently has 10MW in place and hosts about 1400 servers in 10 mobile data containers. The Company expects to ramp up to 42 mobile data containers in the coming weeks. At its completion, Phase 1 will operate at 20MW. The Company expects that  Phase 2 to be completed later this year will bring the site to a total of 50 MW.

The launch of the Fort Stockton Super-Computing and Hosting Center represents another milestone in SOS' strategy to build out its North America operations. The Company also operates a Computing and Hosting Center in Wisconsin.

Mr. Yandai Wang, CEO and Chairman of SOS, commented, "This launch marks another successful step in our growth in North America. We will continue to grow our hosting business and invest in more high-performance rigs for our own mining operations. "

About SOS Limited

SOS is a new high-tech company with artificial intelligence and blockchain as its core technologies. Through core technologies such as AI+ block technology+satellite communication+big data, the company provides digital technical services for emergency rescue, big data marketing, international trade, digital assets and other industries, and provides customers with one-stop digital overall solutions. For more information, visit www.sosyun.com.

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Federal Securities Act, including but not limited to our expectations of future financial performance, business strategy or business. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. Forward looking statements may be identified by words such as "may", "can", "should", "will", "estimate", "plan", "project", "forecast", "intend", "expect", "predict", "believe", "seek", "target", "Outlook" or similar words. Specifically, forward-looking statements may include statements related to the following matters of the company:

• Ability to implement its business plan;
• Changes in SOS product and service market; and
• Expansion plans and opportunities.

These forward-looking statements are based on information available as of the date of this press release and our management's current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

These risks and uncertainties include, but not are limited to, the risk factors described by SOS in its filings with the Securities and Exchange Commission ("SEC"). These risk factors and those identified elsewhere in this press release, among others, could cause actual results to differ materially from historical performance and include, but are not limited to:

• Local government's policies and regulatory oversight of crypto currency mining operation and our other operations;
• SOS's blockchian and supercomputing, commodity trading and marketing solutions businesses are still under development, with many uncertainties in the future direction and integration of these various business segments;
• Failure to manage the newly launched commodities trading business effectively;
• Loss of key customers in the commodity trading business;
• failure to access a large quantity of power at reasonable costs could significantly increase SOS operating expenses and adversely affect our demand for SOS's mining activities;
• any significant or prolonged failure in the data warehouse facilities and data mining facilities that SOS operates or services it provides, including events beyond its control, would lead to significant costs and disruptions and would reduce the attractiveness of its facilities, harm its business reputation and have a material adverse effect on its results of operation;
• security breaches or alleged security breaches of our data warehouses could disrupt SOS operations and have a material adverse effect on its business, financial condition and results of operation; uncertainty in global supply chain and international shipping and
• fluctuation in the crypto currency price.
• other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS.

Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and you should not place undue reliance on these forward-looking statements in deciding whether to invest in our securities. We do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

 

View original content:https://www.prnewswire.com/news-releases/sos-ltd-announces-launch-of-its-super-computing-and-hosting-center-in-texas-301777165.html

SOURCE SOS Limited

FAQ

What is SOS Limited's new project announced on March 21, 2023?

SOS Limited announced the launch of its Super-Computing and Hosting Center in Fort Stockton, Texas.

What is the capacity of SOS Limited's new facility in Texas?

The facility's Phase 1 operates at 10MW, with plans to increase to 20MW upon completion.

When is Phase 2 of SOS Limited's Texas facility expected to be completed?

Phase 2 is expected to be completed later in 2023, increasing total capacity to 50MW.

How many servers will the Texas facility host?

The Texas facility will host about 1,400 servers in its initial setup.

What are the risks associated with SOS Limited's operations?

Risks include regulatory oversight of crypto mining, development uncertainties in blockchain services, and potential operational cost increases.