QINGDAO, China, April 20, 2021 /PRNewswire/ -- SOS Limited (NYSE:
SOS) (the "Company" or "SOS") announced today that the company has
entered into an agreement to purchase 575 cryptocurrency ETH mining
rigs. Under the terms of the agreement, the Company
is expected to obtain approximately 400 GH of ETH
hash rate. The mining rigs are expected to be
delivered on or about April 30, 2021.
This purchase is another step in implementing
SOS' cryptocurrency mining strategy. The Company is
pleased it has been able to secure mining capacity during this
global mining equipment shortage.
Mr. Yandai Wang, CEO of SOS, commented, "we are optimistic
about the future of cryptocurrencies and Ethereum in particular.
This is part of our overall strategy to develop blockchain-based
environments and services and which will be a core part of our
growth in 2021 and beyond".
About SOS Limited
SOS is an emerging blockchain-based and big data-driven
marketing and solution provider as well as cryptocurrency mining
operator. The core infrastructure of SOS' marketing data,
technology and solutions to insurance and emergency rescue services
is built on big data, blockchain-based technology, cloud computing,
AI, satellite, and 5G network, etc. SOS has created a cloud
"software as a service (SaaS)" platform for emergency rescue
services, with three major product categories: basic cloud,
cooperative cloud, and information cloud. 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:
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the federal
securities laws, including, but not limited to, our expectations
for future financial performance, business strategies or
expectations for our business. These statements constitute
projections, forecasts and forward-looking statements, and are not
guarantees of performance. SOS cautions that forward-looking
statements are subject to numerous assumptions, risks and
uncertainties, which change over time. Words such as "may," "can,"
"should," "will," "estimate," "plan," "project," "forecast,"
"intend," "expect," "anticipate," "believe," "seek," "target,"
"look" or similar expressions may identify forward-looking
statements. Specifically, forward-looking statements may include
statements relating to the Company's:
- expected hash rate for its mining rigs;
- expected mining results for the second quarter of 2021;
- intention to grow and install more mining rigs;
- ability to execute its business plan;
- changes in the market for SOS' products and services; and
- expansion plans and opportunities.
These forward-looking statements are based on information
available as of the date of this press release and our management's
current expectations, forecasts and assumptions, and involve a
number of judgments, risks and uncertainties that may cause actual
results or performance to be materially different from those
expressed or implied by these forward-looking statements.
These risks and uncertainties include, but not are limited to,
the risk factors described by SOS in its filings with the
Securities and Exchange Commission ("SEC"). These risk factors and
those identified elsewhere in this press release, among others,
could cause actual results to differ materially from historical
performance and include, but are not limited to:
SOS's cryptocurrency mining, security and insurance businesses
are still under development, with many uncertainties in research of
- failure to access a large quantity of power at reasonable costs
could significantly increase SOS operating expenses and adversely
affect our demand for SOS's mining machines;
- shortages in, or rises in the prices of mining machines may
adversely affect the Company's business;
- any significant or prolonged failure in the data warehouse
facilities and data mining facilities that SOS operates or services
it provides, including events beyond its control, would lead to
significant costs and disruptions and would reduce the
attractiveness of its facilities, harm its business reputation and
have a material adverse effect on its results of operation;
- security breaches or alleged security breaches of our data
warehouses could disrupt SOS operations and have a material adverse
effect on its business, financial condition and results of
- Chinese government's policies and regulatory oversight of
- other risks and uncertainties indicated in SOS's SEC reports or
documents filed or to be filed with the SEC by SOS.
Accordingly, forward-looking statements should not be relied
upon as representing our views as of any subsequent date, and you
should not place undue reliance on these forward-looking statements
in deciding whether to invest in our securities. We do not
undertake any obligation to update forward-looking statements to
reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
SOURCE SOS Limited