HONGKONG, Oct. 27, 2021 (GLOBE NEWSWIRE) — Taoping Inc. (NASDAQ: TAOP, the “Firm” or “TAOP”), a supplier of blockchain expertise and good cloud companies, at this time introduced that its subsidiary, Taoping Capital Restricted, established a wholly-owned Kazakh subsidiary, Kazakh Taoping Knowledge Middle Co. Ltd. (“Kazakh Taoping”), to spend money on the development of cryptocurrency mining information heart in Kazakhstan.
Kazakh Taoping’s important enterprise is predicted to be managing the development of a cryptocurrency mining information heart in Kazakhstan. In line with the undertaking plan, Kazakh Taoping intends to finish the primary part of the development of the cryptocurrency mining information heart with a complete capability of 40MW inside six months. With a lined space of about 269,000 sq. ft, the information heart is predicted to have the ability to deploy about 10,000 S19 Antminers. The board of administrators of the Firm has authorized a $3.2 million funding in Kazakh Taoping for the development of the cryptocurrency mining information heart undertaking.
“The institution of Kazakh Taoping is of nice significance to our abroad enterprise enlargement,” mentioned Mr. Jianghuai Lin, Chairman and CEO of TAOP. “Kazakhstan is a rising hub for cryptocurrency mining, we imagine the completion and operation of the undertaking will create better worth for our shareholders and shoppers.”
About Taoping Inc.
Taoping Inc. (TAOP) is a blockchain expertise and good cloud companies supplier. The Firm gives cloud-based advertisements show terminal, digital promoting distribution community and new media useful resource sharing platform within the Out-of-House promoting market in China. TAOP can also be devoted to the analysis and software of blockchain expertise and digital belongings, a brand new enterprise section the Firm initiated in 2021. With a number of cloud information heart deployed abroad, the Firm continues to enhance computing energy and create worth for the encrypted digital foreign money trade. Counting on its self-developed good cloud platform, TAOP gives options and cloud companies to industries resembling new media and synthetic intelligence. To study extra, please go to http://www.taop.com/.
Secure Harbor Assertion
This press launch might comprise sure “forward-looking statements” referring to the enterprise of Taoping Inc., and its subsidiaries. All statements, aside from statements of historic truth included herein, are “forward-looking statements” in nature inside the that means of the Personal Securities Litigation Reform Act of 1995. These forward-looking statements, usually recognized by means of forward-looking terminologies resembling “believes”, “expects” or related expressions, contain identified and unknown dangers and uncertainties. Though the Firm believes that the expectations mirrored in these forward-looking statements are affordable, they do contain assumptions, dangers and uncertainties, and these expectations might show to be incorrect. Traders shouldn’t place undue reliance on these forward-looking statements, which converse solely as of the date of this press launch. The Firm’s precise outcomes may differ materially from these anticipated in these forward-looking statements because of quite a lot of components, together with these mentioned within the Firm’s periodic reviews which can be filed with the Securities and Alternate Fee and obtainable on its web site (http://www.sec.gov). All forward-looking statements attributable to the Firm and its subsidiaries or individuals performing on their behalf are expressly certified of their entirety by these components. Apart from as required below the securities legal guidelines, the Firm doesn’t assume an obligation to replace these forward-looking statements.
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