QINGDAO, China, Feb. 25, 2021 /PRNewswire/ -- SOS Limited
(NYSE: SOS) (the "Company" or "SOS") announced today that
it entered into a definitive agreement with Leibodong Hydropower
Station("Leibodong") in Hejiang County, Luzhou, Sichuan.
Pursuant to the definitive agreement, Leibodong will supply SOS
with electricity and physical space to house crypto mining rigs for
a term of three years in order for SOS to operate its own cloud
crypto mining and big data center.
Pursuant to the definitive agreement, Leibodong shall lease
SOS with its own physical site or sublease physical site which are
expected to be approximately 1350 square meters (approximately
14531.28 square foot) for SOS to house about 3500 sets of crypto
mining rigs. The rent is about RMB
3.50 (approximately $0.5422)
per square meter per month.
SOS Chairman Yandai Wang commented, "We are glad to enter into
the definitive agreement with with Leibodong after three
weeks' of negotiation since we entered the framework agreement on
February 3, 2021. I am very pleased
with the deal. The sustainable and cost-effective crypto mining
supply chain is one of key success factors for cloud crypto mining.
The Leibodong Cloud Crypto Mining Center based in Hejiang County,
Luzhou, Sichuan sets an example
and standard on how SOS will continue to secure cheap electricity
in regions with rich renewable energy resources, such as
Sichuan China. We will continue to
search for cheap and sustainable power plant to execute our
aspiring strategy of cloud crypto mining."
About SOS Limited
SOS is an emerging blockchain-based and big data-driven
marketing and solution provider, with a nationwide membership base
of approximately 20 million in China. Recently, SOS started to get ready to
roll out its cryptocurrency mining business and plans to develop
insurance and security management solutions for digital assets and
cryptocurrencies. The core infrastructure of SOS' marketing data,
technology and solutions to insurance and emergency rescue services
is built on big date, blockchain-based technology, cloud computing,
AI, satellite, and 5G network, etc. SOS Limited, through its
operating subsidiary, SOS Information Technology Co., Ltd. ("SOS")
is a high-technology company providing a wide range of services to
its corporate and individual members, including marketing data,
technology and solutions for emergency rescue services. SOS
transforms digital technology into data-driven operations through
the research and development of big data, cloud computing, Internet
of Things, blockchain and artificial intelligence. We have created
a SOS cloud emergency rescue service software as a service (SaaS)
platform with three major product categories, including basic cloud
(medical rescue card, car rescue card, financial rescue card,
mutual assistance rescue card), cooperative cloud (information
rescue center, intelligent big data, intelligent software and
hardware), and information cloud (News Today, E-Commerce Today).
This system provide marketing-related data, technology solutions,
and technology-driven big data to clients such as insurance
companies, financial institutions, medical institutions, healthcare
providers, auto manufacturers, security providers, senior living
assistance providers and other service providers in the emergency
rescue services industry. For more information, please visit:
http://www.sosyun.com/
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 timing
of the proposed transaction; the business plans, objectives,
expectations and intentions of the parties;, SOS's estimated and
future results of operations, business strategies, competitive
position, industry environment and potential growth opportunities
market acceptance of our products; the ultimate impact of the
current Coronavirus pandemic, or any other health epidemic, on our
business, our research programs, healthcare systems or the global
economy as a whole; our intellectual property; our reliance on
third party organizations; our anticipated financial and operating
results, including anticipated sources of revenues; our assumptions
regarding the size of the available market, benefits of our product
offering, product pricing, timing of product launches; management's
expectation with respect to future acquisitions; statements
regarding our goals, intentions, plans and expectations, including
the introduction of new products and markets; and our cash needs
and financing plans and etc. 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. SOS may
not realize its expectations, and its beliefs may not prove
correct. 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 can be found in our
periodic filings with the SEC, including our Annual Report on Form
20-F for the fiscal year ended December 31,
2019. SOS's SEC filings are available publicly on the SEC's
website at www.sec.gov. SOS disclaims any obligation to update
the forward-looking statements, whether as a result of new
information, future events or otherwise.
View original
content:http://www.prnewswire.com/news-releases/sos-kicks-off-constructions-of-cloud-crypto-mining-center-in-hejiang-county-luzhou-sichuan-301235778.html
SOURCE SOS Limited