SOS Ltd. Announces Launch of Additional 1,500 mining rigs at its Super-Computing Center in Texas
QINGDAO, China, Jan. 16, 2024 /PRNewswire/ -- SOS (NYSE: SOS) (the "Company" or "SOS") announced the launch of an additional 1,500 super-computing mining rigs in its Fort Stockton Texas Super-Computing Center. SOS entered into a hosting contract with Grand Flourish Inc, a company in California, on December 8, 2023 for hosting the 1,500 super-computing servers. This launch represents another step in SOS' North American growth strategy.
SOS has been steadily implementing its mining and hosting business in North America over the past two years. Our Texas Super-Computing Center has completed the construction for producing 42MW of power. Its capacity can be further increased to 200MW and can be able to accommodate 200 mobile smart containers and 60,000 super-computing servers in the future. Currently, our Texas Super-Computing Center is operating 8,483 super-computing servers.
Our Wisconsin Super-Computing Center is currently producing 8.5MW of power and is operating 810 super-computing servers. The site is expected to reach a total power capacity of 25MW, and would be able to accommodate 25 mobile smart containers and 7,500 super-computing servers. Currently, SOS is operating at a total hash rate of 1.35 Exahash (EH/s) in North America.
About SOS Limited
SOS is an emerging blockchain-based service solution provider and also engaged in blockchain and cryptocurrency operations, which currently include cryptocurrency mining and maybe expand into cryptocurrency security. Since April 2021, we launched commodity trading via our subsidiary SOS International Trading Co. Ltd; major trading commodity includes mineral resin, soy bean, wheat, sesame, liquid sulfur, petrol coke and latex etc. For more information, please visit: http://www.sosyun.com/.
Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Federal Securities Act, including but not limited to our expectations of future financial performance, business strategy or business. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. Forward looking statements may be identified by words such as "may", "can", "should", "will", "estimate", "plan", "project", "forecast", "intend", "expect", "predict", "believe", "seek", "target", "Outlook" or similar words. Specifically, forward-looking statements may include statements related to the following matters of the company:
- Ability to implement its business plan;
- Changes in SOS product and service market; 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:
- Local government's policies and regulatory oversight of crypto currency mining operation and our other operations;
- SOS's blockchian and supercomputing, commodity trading and marketing solutions businesses are still under development, with many uncertainties in the future direction and integration of these various business segments;
- Failure to manage the newly launched commodities trading business effectively;
- Loss of key customers in the commodity trading business;
- 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 activities;
- 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 operation; uncertainty in global supply chain and international shipping and
- fluctuation in the crypto currency price.
- 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.
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SOURCE SOS Ltd.
