Singularity Future Technology : and Golden Mainland Form Bitcoin Mining Joint-Venture – Form 8-K
Singularity Foreseeable future Technological innovation and Golden Mainland Type Bitcoin Mining Joint-Enterprise
Companies Commit to Constructing a Whole of 1GW of Bitcoin Mining Web-sites in the US
Good Neck, N.Y., April 11, 2022 – Singularity Future Technological innovation Ltd. (“Singularity” or the “Company”) (NASDAQ: SGLY) and Golden Mainland Inc. (“Golden Mainland”) announced currently the development of a Bitcoin mining web page joint undertaking.
The joint enterprise (the “Joint Undertaking”) ideas to commit up to $250 million above time to establish a overall of 1GW of mining sites in Texas, Ohio, and other states, with ability for up to 300,000 Bitcoin miners, every single with 3,400 watts/hour in energy intake. Singularity is a world-wide logistics and blockchain engineering firm engaged in shipping, chartering, logistics solutions and technology services. Golden Mainland is a organization engaged in the provision of electrical energy services in North The united states.
Beneath the phrases of the Joint Enterprise, Singularity will own 51{18fa003f91e59da06650ea58ab756635467abbb80a253ef708fe12b10efb8add}, and Golden Mainland will possess 49{18fa003f91e59da06650ea58ab756635467abbb80a253ef708fe12b10efb8add}, with every occasion contributing capital in accordance with its possession curiosity. Singularity expects to make its first money contribution of around $10 million to the Joint Enterprise from out there funds.
Mr. Yang “Leo” Jie, Main Government Officer of Singularity Future Engineering, commented, “We are enthusiastic to spouse with Golden Mainland in this Joint Enterprise. We believe that that investing in and making out internet sites with Bitcoin mining ability will offer a system with the scale to help the need ranges in the industry.”
About Golden Mainland Inc.
Golden Mainland is a enterprise engaged in electrical power services in North America. The company’s enterprise involves: provide of electricity, ability infrastructure, transformers, ability station mergers and acquisitions, and greenhouse agricultural capabilities. Golden Mainland owns nuclear electrical power, hydropower, wind power, solar electricity, geothermal power, biomass electrical power, etcetera. The enterprise operates 10+GW of power resource use rights, and has diversified investment decision portfolios in the United States, Canada and other nations. For extra details visit www.globalmainland.com.
About Singularity Potential Know-how Ltd.(NASDAQ: SGLY)
On January 3, 2022, the Firm transformed its identify from Sino-Worldwide Transport The us, Ltd. to Singularity Long term Technological innovation Ltd. (NASDAQ: SGLY). Considering that 2020, it has been creating a existence in the revolutionized Blockchain supply administration area by focusing on revolutionary methods for globally interconnected networks and establishing point out-of-the-artwork crypto mining pools. As the Blockchain landscape constantly shifts, the Company strives to offer frictionless involvement and a growth-enabling ecosystem for its shoppers in this ever-altering house. The Firm is developing on its prolonged observe document of good results as a global logistics and ship management products and services firm, established in 2001 in New York, with subsidiaries in New York, Houston, Montreal, Hong Kong, Shanghai, and Ningbo, China. The Enterprise has offered buyers through the world with all of their shipping logistics and agency desires as a whole-provider service provider. Further info about the Enterprise can be located on the Firm’s company web-site at www.singularity.us.
Ahead-Seeking Statements
Specified statements produced herein are “forward-hunting statements” within the that means of the “risk-free harbor” provisions of the Private Securities Litigation Reform Act of 1995. Ahead-searching statements may well be identified by the use of phrases this sort of as “foresee”, “imagine”, “expect”, “estimate”, “plan”, “outlook”, and “task” and other identical expressions that forecast or indicate potential events or developments that are not statements of historic issues. This sort of forward-wanting statements include SGLY’s approximated and foreseeable future final results of functions, small business methods, aggressive situation, business environment and likely development opportunities. In addition, there is uncertainty about the distribute of the COVID-19 virus and the impression it will have on SGLY’s operations, the demand from customers for SGLY’s solutions and services, global supply chains and economic exercise in basic. Additionally, the value of cryptocurrencies might fluctuate considerably over time, and the achievements of the JV and its items are not certain. These forward-on the lookout statements replicate the current assessment of existing data and are topic to many hazards and uncertainties. As a consequence, caution have to be exercised in relying on forward-on the lookout statements. Thanks to acknowledged and not known challenges, our real outcomes may vary materially from our anticipations or projections. All ahead-seeking statements attributable to the Company or persons acting on its behalf are expressly competent in their entirety by these elements. Other than as essential underneath the securities laws, the Company does not presume a responsibility to update these ahead-hunting statements.
Additional data relating to these and other variables that may possibly effects our expectations and projections will be located in our periodic filings with the SEC, which includes our Yearly Report on Sort 10-K for the fiscal year ended June 30, 2021. SGLY’s SEC filings are readily available publicly on the SEC’s web-site at www.sec.gov. SGLY disclaims any obligation to update the forward-looking statements, whether as a consequence of new information and facts, future activities or usually.
For additional info, please get hold of:
David Pasquale
Worldwide IR Companions
New York Place of work Phone: +1-914-337-8801
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