ZHUHAI, China, Oct. 8, 2021 /PRNewswire/ -- Powerbridge
Technologies Co., Ltd. (Nasdaq: PBTS) ("Powerbridge" or the
"Company"), a SaaS solutions and Blockchain applications provider,
is proud to announce that Powercrypto Holdings ("Powercrypto"), a
subsidiary of the Company, is launching cryptocurrency mining,
specifically bitcoin (BTC) and ethereum (ETH), in Hong Kong. These cryptocurrency operations
will utilize environmental-friendly, green and sustainable
energy.
Powercrypto expects to complete the deployment of 2,600
high-performance mining rigs in Hong
Kong, encompassing 600 high-performance BTC mining machines
with a hashrate of approximately 60 PH/s, and 2,000
high-performance ETH mining machines with a hashrate of
approximately 1,000 GH/s.
Sean Wang, Powercrypto's General
Manager and Chief Technology Officer, stated that: "Powercrypto is
a major strategic move by the Company to highlight our global
presence in the crypto-mining business. We will focus on enhancing
our overall hashrate level in BTC and ETH mining by setting up
mining fleets in North America and
Asia."
Powerbridge Technologies President Stewart Lor, commented, "We are very excited
about our launch and positioning as a global presence in the
cryptocurrency mining business. We expect our high-performance
environmental-friendly crypto-mining fleets to significantly
accelerate our revenue."
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 e-commerce, supply chain,
data intelligence, and IoT applications and devices. Powerbridge
Blockchain consists of BTC and ETC 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.
Investor Relations
Powerbridge Technologies
ir@powerbridge.com
ClearThink
nyc@clearthink.capital
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SOURCE Powerbridge Technologies