QINGDAO, China, Feb. 5, 2021 /PRNewswire/ -- SOS Limited
(NYSE: SOS) (the "Company" or "SOS") announced today that
it has entered the framework agreement with Leibodong Hydropower
Station ("Leibodong") in Hejiang, Luzhou, Sichuan Province, where hydropower resources
are much richer and electricity prices much lower than the rest
part of China. Pursuant to the
agreement, Leibodong will supply SOS with
electricity to its cloud crypto mining and big data
center.
Leibodong is located in Dazuoba village, Fubao Town, Hejiang County, Luzhou, Sichuan Province. It is a level three cascade
hydropower station of Dacao River Basin of Tang River, the
first-level tributary of the upper Yangtze River. The normal water
level of Leibodong is 560m, with the
function of daily adjustments. Its adjustment capacity is 1.57
million m3. The actual installed capacity of the power station is
25000 KW, the average annual power generation is 99.8 million KW /
h.
Pursuant to the agreement, Leibodong will supply electricity to
a cloud crypto mining center to be built by SOS for a price between
0.22-0.38kW/h. The parties will enter into definitive
agreement with respect to the price and other terms and conditions
contemplated by the framework agreement. SOS expects the first
shipment of crypto mining machine will be installed on or about
Feb. 14, 2021.
SOS Chairman Yandai Wang commented, "one of the key success
factors for cloud crypto mining is to secure cheap power in regions
with rich renewable energy resources,. Southwest China, such as Sichuan province, is one of such regions. SOS
will continue to search for cheap and sustainable electricity to
execute its aspiring cloud crypto
mining strategy."
About SOS Limited
SOS Limited, through its operating subsidiary, SOS
Information Technology Co., Ltd. ("SOS") is a high-technology
company providing a wide range of services to its corporate and
individual members, including marketing data, technology and
solutions for emergency rescue services. SOS transforms digital
technology into data-driven operations through the research and
development of big data, cloud computing, Internet of Things,
blockchain and artificial intelligence.
We have created a SOS cloud emergency rescue service software as
a service (SaaS) platform with three major product categories:
basic cloud, cooperative cloud, and information. This system
provides innovative marketing solutions to clients such as
insurance companies, financial institutions, medical institutions,
healthcare providers, auto manufacturers, security providers,
senior living assistance providers, and other service providers in
the emergency rescue services industry.
SOS has obtained a national high-tech enterprise certification
and the title of "big data star enterprise," awarded by Gui'an New
District Government. Staying on the forefront of digital technology
innovation, the Company has registered 99 software copyrights and 2
patents. For more information, please
visit: http://www.sosyun.com/
Forward-Looking Statements
Certain statements made herein are "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"anticipate," "believe," "expect," "estimate," "plan," "outlook,"
and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Such forward-looking statements include timing
of the proposed transaction; the business plans, objectives,
expectations and intentions of the parties;, SOS's estimated and
future results of operations, business strategies, competitive
position, industry environment and potential growth opportunities
market acceptance of our products; the ultimate impact of the
current Coronavirus pandemic, or any other health epidemic, on our
business, our research programs, healthcare systems or the global
economy as a whole; our intellectual property; our reliance on
third party organizations; our anticipated financial and operating
results, including anticipated sources of revenues; our assumptions
regarding the size of the available market, benefits of our product
offering, product pricing, timing of product launches; management's
expectation with respect to future acquisitions; statements
regarding our goals, intentions, plans and expectations, including
the introduction of new products and markets; and our cash needs
and financing plans and etc. These forward-looking statements
reflect the current analysis of existing information and are
subject to various risks and uncertainties. As a result, caution
must be exercised in relying on forward-looking statements. SOS may
not realize its expectations, and its beliefs may not prove
correct. Due to known and unknown risks, our actual results may
differ materially from our expectations or projections. All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
Additional information concerning these and other factors that
may impact our expectations and projections can be found in our
periodic filings with the SEC, including our Annual Report on Form
20-F for the fiscal year endedDecember 31, 2019. SOS's SEC filings
are available publicly on the SEC's website at www.sec.gov.
SOS disclaims any obligation to update the forward-looking
statements, whether as a result of new information, future events
or otherwise.
View original
content:http://www.prnewswire.com/news-releases/sos-ltd-enters-framework-agreement-with-leibodong-hydropower-station-in-hejiang--luzhou-city-sichuan-to-secure-cheap-and-renewable-electricity-for-its-cloud-crypto-mining-center-301222986.html
SOURCE SOS Limited