SHENZHEN, April 15, 2021 (GLOBE NEWSWIRE) — Taoping Inc. (NASDAQ: TAOP, the “Firm”), a supplier of Web-based sensible show screens, and a new-media ecosystem that allows focused promoting and on-line retail, pronounces right now that it has signed a Bitcoin mining machine buy settlement (the “Buy Settlement”) with Bitmain Applied sciences Restricted. Pursuant to the Buy Settlement, TAOP will buy Antminer S19j Professional Bitcoin mining machines with a complete order worth of about $24 million. The acquisition will probably be funded by a line of credit score backed by the non-public actual property of Mr. Jianghuai Lin, the Chairman and CEO of TAOP.
S19j Professional is the newest mannequin of Bitmain Antminer launched in April 2021, with a hash charge of 100 TH/s, a low power effectivity ratio of 30 J/TH, and an anticipated life cycle over 5 years. The miners are scheduled to ship ranging from August 2021. Upon the completion of deliveries below the Buy Settlement, TAOP is anticipated to personal a further hash charge of roughly 300,000 TH/s.
“This buy settlement is one other key step for TAOP’s blockchain and digital asset enterprise following our cooperation with BitFuFu,” stated Mr. Jianghuai Lin, the Chairman and CEO of TAOP. “We’re dedicated to maintain rising operational hash charge and seize the numerous alternatives in blockchain know-how.”
About Taoping Inc.
Taoping Inc. (TAOP), is a number one supplier of sensible show terminals and options for focused promoting and on-line retails. The Firm gives the built-in end-to-end digital promoting options enabling prospects to distribute and handle adverts on cloud-based advert show screens. Connecting house owners of Taoping screens, advertisers and customers, it builds up a useful resource sharing “Good IoT Display Community- Taoping App – Taoping Go (e-Retailer)” media ecosystem to in the end obtain the mission “our know-how makes promoting and branding reasonably priced and efficient for everybody.” To be taught extra, please go to http://www.taop.com/.
Secure Harbor Assertion
This press launch could include sure “forward-looking statements” referring to the enterprise of Taoping Inc., and its subsidiaries and different consolidated entities. All statements, apart from statements of historic truth included herein, are “forward-looking statements” in nature inside the which means of the Non-public Securities Litigation Reform Act of 1995. These forward-looking statements, usually recognized by means of forward-looking terminologies equivalent to “believes”, “expects” or related expressions, contain recognized and unknown dangers and uncertainties. Though the Firm believes that the expectations mirrored in these forward-looking statements are cheap, they do contain assumptions, dangers and uncertainties, and these expectations could show to be incorrect. Traders shouldn’t place undue reliance on these forward-looking statements, which communicate solely as of the date of this press launch. The Firm’s precise outcomes might differ materially from these anticipated in these forward-looking statements because of a wide range of elements, together with these mentioned within the Firm’s periodic experiences which might be filed with the Securities and Trade Fee and obtainable on its web site (http://www.sec.gov). All forward-looking statements attributable to the Firm and its subsidiaries and different consolidated entities or individuals appearing on their behalf are expressly certified of their entirety by these elements. Apart from as required below the securities legal guidelines, the Firm doesn’t assume an obligation to replace these forward-looking statements.
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