ROSLYN, N.Y., March 11, 2021 /PRNewswire/ -- Sino-Global
Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global," the "Company"
or "We") today announced the expansion of its cryptocurrency market
position with the close of its acquisition of 2,783 digital
currency mining servers from Hebei Yanghuai Technology Co., Ltd.
("Yanghuai"), reaching a total of 50,440 t/s in computing power.
The deal is valued at approximately RMB 30 million (approximately USD 4.6 million) and was closed following a
successful inspection of the digital currency operation servers for
uniqueness, health and ownership.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, commented,
"The successful closing of this acquisition puts Sino-Global ahead
of schedule as we diversify our core business into the fast growing
cryptocurrency market. Acquiring nearly 3,000 digital
currency mining servers gives us a substantial platform, one we
intend to grow both organically and through additional M&A
opportunities if they meet our valuation, performance and location
criteria. Having been in business since 2001, we believe we
can leverage our extensive trading and logistics experience to
create even greater value for the company and shareholders."
All devices have unique QR codes enabling qualified uniqueness
acceptance. The agreement stipulates a one-year warranty
period covering the operational health and performance of the
digital currency operation servers. Yanghuai will continue to
manage and operate the digital currency mining servers at no
further charge during this one year, after which time Sino-Global
may contract Yanghuai to provide such services for a fee.
About Sino-Global Shipping America, Ltd. (NASDAQ:
SINO)
Founded in the United States in
2001, Sino-Global Shipping America, Ltd. has been diversifying into
the fast growing cryptocurrency market, while continuing to support
and grow its core shipping, chartering, logistics and related
services business. Headquartered in New
York, Sino-Global has offices in Los Angeles, Mainland China, Australia, Canada and Hong
Kong. Additional information about Sino-Global can be found
on the Company's corporate website at www.sino-global.net.
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 SINO's
estimated and future results of operations, business strategies,
competitive position, industry environment and potential growth
opportunities. In addition, there is uncertainty about the spread
of the COVID-19 virus and the impact it will have on SINO's
operations, the demand for SINO's products and services, global
supply chains and economic activity in general. Moreover, the value
of cryptocurrencies may fluctuate significantly over time. 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. 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 will be found in our
periodic filings with the SEC, including our Annual Report on Form
10-K for the fiscal year ended June 30,
2020. SINO's SEC filings are available publicly on the SEC's
website at www.sec.gov. SINO disclaims any obligation to update the
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE Sino-Global Shipping America, Ltd.