NEW
YORK, Nov. 2, 2022 /PRNewswire/ -- Future
FinTech Group Inc. (NASDAQ: FTFT) ("hereinafter referred to as
"Future FinTech", "FTFT" or "the Company"), a blockchain
application technology developer and a fintech service provider,
announced today that its wholly-owned subsidiary, FTFT
SuperComputing Inc. ("FTFT SuperComputing"), has completed the
first construction phase of the build-out of its
cryptocurrency mining farm in northwest Ohio. Following testing procedures, on
October 24, 2022, the first batch
Antminer S19 series mining machines were successfully put into
operation.
As announced in May 2022, FTFT
Supercomputing entered into an electricity sales and purchase
agreement with the electricity supplier Champion Energy Services,
LLC, and the transmission of electricity for the Ohio cryptocurrency mining farm
was enabled on July 1, 2022.
Mr. Kai Xu, Vice President of
Future FinTech's Blockchain Division, said, "We are pleased to have
successfully deployed the first batch of Antminer S19 series mining
machines in our Ohio
cryptocurrency mining farm, which is the initial step
of the first phase of the project to deploy approximately 12,000
S19 Antminers and accommodate about 1.3 EH/s of hash power in
Ohio. Our strategic plan for this
business segment is to develop cryptocurrency mining
farms in different regions of the world and accelerate their
deployment by using our own capabilities or through cooperation
agreements with strong partners. We believe that our
cryptocurrency mining farm in Ohio will be successful and will meet the
goals that we have set out for it."
About Future FinTech Group Inc.
Future FinTech Group Inc. is a blockchain application technology developer and fintech service
provider
incorporated in Florida. The Company's operations include a blockchain-based
online shopping mall platform, Chain Cloud Mall
("CCM"), supply chain financing services, asset
management
and cryptocurrency market data
services.
The Company is also developing blockchain-based e-Commerce technology, cryptocurrency
mining, money transfer
service, and financial service technology businesses. For
more information,
please visit http://www.ftft.com/.
Safe Harbor Statement
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"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended, or the
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to us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 10-K for the
year ended December 31, 2021 and our other reports and
filings with SEC. Such reports are available upon request from the
Company, or from the Securities and Exchange Commission, including
through the SEC's Internet website
at http://www.sec.gov. We have no obligation and do not
undertake to update, revise or correct any of the forward-looking
statements after the date hereof, or after the respective dates on
which any such statements otherwise are made.
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SOURCE Future FinTech Group Inc.