HONG KONG, Aug 27, 2021 – (ACN Newswire) – Taoping Inc. (NASDAQ: TAOP, the “Firm” or “TAOP”), a provider of blockchain technology and dapper cloud companies and products, nowadays publicizes that its wholly-owned subsidiary Taoping Digital Resources (Asia) Restricted (“TDAA”) and a Kazakhstan firm Aral Petroleum Capital LLP (“APC”) enjoy signed a memorandum of notion (“MOU”) to establish a joint challenge in Kazakhstan, of which TDAA and APC will comprise 51% and 49%, respectively. TDAA will adjust the board of administrators of the joint challenge.
APC is an oil and gas exploration and sort firm operating in Kazakhstan, a completely-owned subsidiary of CaspianEnergy Inc. It holds an extraordinary license which entitles it to gain and develop sure oil and gas properties identified because the “North Block”, an space of 1,916 square km, and a manufacturing contract for the space identified as “East Zhagabulak”. With a solid substitute inform and integration ride, APC is ready to make sprint excessive-quality utility-scale electrical energy provide at a low-charge to the joint challenge.
The joint challenge plans to make investments and comprise cryptocurrency mining internet sites with a complete capability of 100MW, the first stage construction of 30 MW is anticipated to complete within three to 6 months. TDAA will enjoy the precedence to deploy cryptocurrency mining machines owned by TDAA or its partners. The joint challenge will create operation and upkeep of cryptocurrency mining machines in Kazakhstan. To boot to, the joint challenge plans to hire out extra operating capability to third parties for extra earnings.
On April 15, 2021, the Firm announced that it has signed a Bitcoin mining machine take settlement with Bitmain Applied sciences Restricted for the take of Antminer S19j Legit Bitcoin mining machines with a complete hash rate of 300,000 TH/s. TAOP plans to bring these mining machines to Kazakhstan for deployment as soon as the construction of the mining internet sites is completed.
“We continue to peep for world alternatives that can bring industry development. With twelve months-round frigid temperatures, low staunch estate and labor costs, and rather low vitality prices, Kazakhstan is changing into a crypto mining hub that for the time being ranks 3rd on this planet by formula of hash rate power,” mentioned Mr. Jianghuai Lin, Chairman and CEO of TAOP, “We’re working actively to decide on fresh outlandish opportunity of the altering cryptocurrency mining atmosphere to develop charge for shareholders.”
About Taoping Inc.
Taoping Inc. (TAOP) is an built-in group of technology and financial companies with industry in Mainland China, Hong Kong, and a ramification of in a foreign country worldwide locations. Relying on its outlandish strengths in cloud technology and chip provide chain, TAOP affords solutions and cloud companies and products to industries equivalent to film and television manufacturing, training, original media, synthetic intelligence and asset management. The Firm is dedicated to the review and utility of blockchain technology as properly as funding and management of financial resources at dwelling and in a foreign country. To learn extra, please talk over with http://www.taop.com/.
Gather Harbor Assertion
This press release could per chance well even enjoy sure “forward-having a peep statements” touching on to the industry of Taoping Inc., and its subsidiaries and a ramification of consolidated entities. All statements, a ramification of than statements of historical truth integrated herein, are “forward-having a peep statements” in nature within the which formula of the Personal Securities Litigation Reform Act of 1995. These forward-having a peep statements, normally identified by technique of forward-having a peep terminologies equivalent to “believes”, “expects” or identical expressions, involve identified and unknown dangers and uncertainties. Even supposing the Firm believes that the expectations reflected in these forward-having a peep statements are reasonably priced, they attain involve assumptions, dangers and uncertainties, and these expectations could per chance well even converse to be unsuitable. Investors will enjoy to no longer living undue reliance on these forward-having a peep statements, which communicate most effective as of the date of this press release. The Firm’s staunch outcomes could per chance well vary materially from those anticipated in these forward-having a peep statements as a outcomes of a unfold of issues, at the side of those discussed in the Firm’s periodic stories which could per chance well be filed with the Securities and Commerce Rate and on hand on its web web page (http://www.sec.gov). All forward-having a peep statements attributable to the Firm and its subsidiaries and a ramification of consolidated entities or other folks acting on their behalf are expressly qualified of their entirety by these factors. Other than as required below the securities approved guidelines, the Firm does no longer decide an duty to change these forward-having a peep statements.
Subject: Press release abstract
Sectors: CryptoCurrency, Blockchain, FinTech
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