ZHUHAI, China, Aug. 25, 2021 /PRNewswire/ -- Powerbridge
Technologies Co., Ltd. (Nasdaq: PBTS) ("Powerbridge" or the
"Company"), a SaaS solutions and Blockchain applications provider,
today announced that the Company has entered into a cryptocurrency
mining machine purchase agreement (the "Agreement") with
Cryptodigital Holdings Ltd. Pursuant to the Agreement, the Company
will acquire a total of 5,600 bitcoin (BTC) and ethereum (ETH)
mining machines which are scheduled to be delivered starting from
October 2021.
The above-mentioned 5,600 mining machines include 2,000 BTC
miners and 3,600 ETH miners. The 2,000 BTC miners are composed of
Antminer S19 Pro, Antminer S19 and other models with high hash rate
and high energy efficiency, representing an expected hash rate of
200 PH/s. The 3,600 ETH miners are composed of high performance RTX
3070, RTX 3060 Ti and other models, representing an expected hash
rate of 1,700 GH/s.
"Once these miners are deployed, we should start to see a sharp
increase in our bitcoin and ethereum production capacity," said
Stewart Lor, President and Chief
Financial Officer of Powerbridge Technologies. "We expect to
continue to invest and acquire crypto mining machines to enhance
our overall computing power for BTC and ETH."
About Powerbridge Technologies
Powerbridge Technologies Co., Ltd., a growth-driven technology
company is primarily engaged in SaaS solutions and Blockchain
applications. Powerbridge SaaS integrates AI, big data, and IoT
offering SaaS platforms for cross-border eCommerce, supply chain,
data intelligence, and IoT applications and devices. Powerbridge
Blockchain consists of BTC and ETH mining and digital assets, IPFS
distributed network services, and industry-specific Blockchain
applications. For more information, visit
www.powerbridge.com/ir.
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may, "will, "intend," "should," "believe," "expect," "anticipate,"
"project," "estimate" or similar expressions that do not relate
solely to historical matters, it is making forward-looking
statements; specifically, the Company's statements regarding
listing on the NASDAQ Capital Market and the IPO are
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the
Company's future business development; product and service demand
and acceptance; changes in technology; economic conditions;
reputation and brand; the impact of competition and pricing;
government regulations; fluctuations in general economic and
business conditions in China and
assumptions underlying or related to any of the foregoing and other
risks contained in reports filed by the Company with the SEC. For
these reasons, among others, investors are cautioned not to place
undue reliance upon any forward-looking statements in this press
release. Additional factors are discussed in the Company's filings
with the SEC, which are available for review at www.sec.gov. The
Company undertakes no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that
arise after the date hereof.
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SOURCE Powerbridge Technologies