NEW YORK, March 18, 2021 /PRNewswire/ -- Code Chain New
Continent Limited (the "Company" or "Code Chain" or "We") (NASDAQ:
CCNC), a leading eco-technology company, today announced that it
completed the previously announced purchase of 10,000 Innosilicon
T2T Bitcoin mining machines with Chengdu RiZhanYunJisuan Co., Ltd.
The miners are expected to be immediately deployed to provide an
estimated 240 PH/s of Bitcoin mining hash rate capacity.
To ensure regulatory compliance with mining machine
delivery, the Company's Chief Financial Officer, Auditor, local
legal counsel, and a third-party evaluation advisor supervised and
diligently guided the proper delivery procedure of the 10,000
miners at several locations in Xinjiang, China from March 2 to
5, 2021.
David (Weidong) Feng, Co-CEO of
the Company, commented, "We are pleased to have successfully
purchased and delivered 10,000 Innosilicon T2T Bitcoin mining
machines. Since the Bitcoin price recently surpassed $57,000, the values attributed to Bitcoin mining
enterprises have risen dramatically. Code Chain is excited and
focused on the tremendous market-driven opportunities, and
continues to move forward with its expansion strategy to maximize
our shareholder value."
About Code Chain New Continent Limited
Founded in 2009, Code Chain New Continent Limited engages in the
research, development, and sale of solid waste recycling systems
for the mining and industrial sectors, the wholesale and sale of
fuel materials, harbor cargo handling services and production and
sales of coating materials in the PRC. It provides end-users in
these markets with a clean alternative to traditional waste
disposal by significantly reducing solid waste discharge into the
environment and enabling such users to extract value from valuable
metals and other industrial waste materials. Upon completion of
Sichuan Wuge Network Games Co., Ltd. ("Wuge"), the Company has also
diversified its business. Wuge was established in 2019 and is still
in this early developing stage. Wuge produced electronic tokens
that combine the five-W elements (when, where, who, why, what),
geographic location via the Beidou satellite system and identity
information using Code Chain technology. The electronic tokens are
unique, tradable, and inheritable digital assets and cannot be
tampered. The electronic tokens are based on and stored in the Code
Chain system and can be used to monitor and document all kinds of
consumer behaviors that involve code-scanning.
Safe Harbor Statements
This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, including certain plans, expectations, goals, and
projections, which are subject to numerous assumptions, risks, and
uncertainties. These forward-looking statements may include, but
are not limited to, statements containing words such as "may,"
"could," "would," "plan," "anticipate," "believe," "estimate,"
"predict," "potential," "expects," "intends", "future" and
"guidance" or similar expressions. These forward-looking statements
speak only as of the date of this press release and are subject to
change at any time. These forward-looking statements are based upon
management's current expectations and are subject to a number of
risks, uncertainties and contingencies, many of which are beyond
the Company's control that may cause actual results, levels of
activity, performance or achievements to differ materially from any
future results, levels of activity, performance or achievements
expressed or implied by such forward-looking statements. The
Company's actual results could differ materially from those
contained in the forward-looking statements due to a number of
factors, including those described under the heading "Risk Factors"
in the Company's public filings with the Securities and Exchange
Commission, including the Company's annual report on 10-K. The
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required under applicable
law.
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SOURCE Code Chain New Continent Limited