HOUSTON, Jan. 27, 2022 /PRNewswire/ -- AirNet Technology
Inc., formerly known as AirMedia Group Inc. ("AirNet" or the
"Company") (Nasdaq: ANTE), today announced the entry into an
equipment purchase agreement for the purchase of 4,800 Bitmain
Antminer S-19 XP miners with an intended delivery in equal monthly
installments of 800 units in the second half of 2022 in
the United States. The aggregate
purchase price for these miners is approximately US$60 million (subject to potential adjustments
based on the hash rate of the delivered units), for which the
Company's business partner, Foundry Digital LLC will provide
financing through its Foundry X.
To accommodate its increasing scale of operations in
the United States, the Company
entered into a lease agreement for a term of three years, pursuant
to which the Company agreed to lease approximately four acres of
land including approximately 22,603 square feet of office space in
Houston, Texas.
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "will,"
"expects," "is expected to," "anticipates," "aim," "future,"
"intends," "plans," "believes," "are likely to," "estimates,"
"may," "should" and similar expressions. The Company may also make
written or oral forward-looking statements in its reports filed
with, or furnished to, the U.S. Securities and Exchange Commission,
in its annual reports to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Forward-looking statements
are based upon management's current expectations and current market
and operating conditions, and involve inherent risks and
uncertainties, all of which are difficult to predict and many of
which are beyond the Company's control, which may cause its actual
results, performance or achievements to differ materially from
those in the forward-looking statements. Further information is
included in the Company's filings with the U.S. Securities and
Exchange Commission. All information provided in this announcement
is as of the date of this announcement, and the Company does not
undertake any obligation to update any forward-looking statement as
a result of new information, future events or otherwise, except as
required under law.
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SOURCE AirNet Technology Inc.