ZW Data Action Technologies Partner with BitSpace for Joint Blockchain Mining Platform
February 10 2021 - 7:00AM
ZW Data Action Technologies, Inc. (Nasdaq: CNET) ("ZW Data" or the
"Company"), an integrated online advertising, precision marketing,
data analytics, and other value-added services company, today
announced that it signed a strategic cooperation agreement with
Wuhan BitSpace Tech Inc. (“BitSpace”) to build a joint blockchain
mining platform.
BitSpace provides blockchain miningtechnology
for diversified channels and user services. After years of
development, it has built three main businesses: quantitative AI
technology, blockchain investment, and blockchain big data
computing services. BitSpace also owns a large number of bitcoin
network computing servers and has in-depth cooperation with many
well-known domestic blockchain data consumption industrial parks.
The two parties will use their respective capital, platforms and
resources to build a joint blockchain mining platform. More
information about BitSpace can be found on its website:
http://www.bitspace.top/.
The ZW data’s blockchain infrastructure
framework (BIF) platform will offer a new model of smart contract
for automatic aggregate mining and achieve the automatic
distribution of income. This will lower the risk of centralization,
and further enhance the transparency of income distribution.
BitSpace jointly with the Company will implement 2800 miners of Ant
Series T19, which will be deployed in the next 6 months upon
certain conditions. The expected total power will reach
229PH/s.
Yingguang Guo, Chief Technology Officer of ZW
Data, commented, “We will work together to establish multiple
large-scale self-operated mines with a load of more than 100,000
kilowatts in a much faster operating efficiency. We will also have
comprehensive cooperation with BitSpace in the field of digital
currency, such as mine design and construction, mining machine
procurement, operation and maintenance, and quantitative hedge
investment of digital currency. We plan to build the platform so
that traditional industries will benefit from blockchain
technology, cloud computing power, mining pool and financing
capacity, while linking to the traditional business owners as an
alternative business opportunity or enhancement to their existing
businesses.”
About ZW Data Action Technologies
Inc.
Established in 2003 and headquartered in
Beijing, China, ZW Data Action Technologies Inc. (the “Company”)
offers online advertising, precision marketing, data analytics and
other value-added services for enterprise clients. Leveraging its
fully integrated services platform, proprietary database, and
cutting-edge algorithms, ZW Data Action Technologies delivers
customized, result-driven business solutions for small and
medium-sized enterprise clients in China. The Company also develops
blockchain and artificial intelligence enabled web/mobile
applications and software solutions for general public, enterprise
clients, and government agencies. More information about the
Company can be found at: http://www.zdat.com/.
Safe Harbor Statement
This release contains certain "forward-looking
statements" relating to the business of ZW Data Action
Technologies Inc., which can be identified by the use of
forward-looking terminology such as "believes," "expects,"
"anticipates," "estimates" or similar expressions. Such
forward-looking statements involve known and unknown risks and
uncertainties, including business uncertainties relating to
government regulation of our industry, market demand, reliance on
key personnel, future capital requirements, competition in general
and other factors that may cause actual results to be materially
different from those described herein as anticipated, believed,
estimated or expected. Certain of these risks and uncertainties are
or will be described in greater detail in our filings with the
Securities and Exchange Commission. These forward-looking
statements are based on ZW Data Action
Technologies current expectations and beliefs concerning
future developments and their potential effects on the Company.
There can be no assurance that future developments
affecting ZW Data Action Technologies will be those
anticipated by ZW Data Action Technologies. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond the control of the Company) or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by such
forward-looking statements. ZW Data Action
Technologies undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
under applicable securities laws.
For more information, please
contact:
Sherry
Zheng Weitian Group
LLCEmail: shunyu.zheng@weitian-ir.comPhone: +1
718-213-7386
ZW Data Action Technolog... (NASDAQ:CNET)
Historical Stock Chart
From Aug 2024 to Sep 2024
ZW Data Action Technolog... (NASDAQ:CNET)
Historical Stock Chart
From Sep 2023 to Sep 2024