QINGDAO,
China, Jan. 16, 2024 /PRNewswire/ -- SOS (NYSE:
SOS) (the "Company" or "SOS") announced the launch of an additional
1,500 super-computing mining rigs in its Fort Stockton Texas
Super-Computing Center. SOS entered into a hosting contract with
Grand Flourish Inc, a company in California, on December
8, 2023 for hosting the 1,500 super-computing servers. This
launch represents another step in SOS' North American growth
strategy.
SOS has been steadily implementing its mining and hosting
business in North America over the
past two years. Our Texas Super-Computing Center has completed
the construction for producing 42MW of power. Its
capacity can be further increased to 200MW and can be
able to accommodate 200 mobile smart containers
and 60,000 super-computing servers in the
future. Currently, our Texas Super-Computing Center is
operating 8,483 super-computing servers.
Our Wisconsin Super-Computing Center is currently producing
8.5MW of power and is operating 810 super-computing servers. The
site is expected to reach a total power capacity of 25MW, and would
be able to accommodate 25 mobile smart containers and 7,500
super-computing servers. Currently, SOS is operating at a total
hash rate of 1.35 Exahash (EH/s) in North
America.
About SOS Limited
SOS is an emerging blockchain-based service solution provider
and also engaged in blockchain and cryptocurrency
operations, which currently include cryptocurrency
mining and maybe expand into cryptocurrency security.
Since April 2021, we launched
commodity trading via our subsidiary SOS International Trading Co.
Ltd; major trading commodity includes mineral resin, soy bean,
wheat, sesame, liquid sulfur, petrol coke and latex etc. For more
information, please visit: http://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.
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SOURCE SOS Ltd.