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Home CryptoBitcoin SOS Limited (NYSE:SOS) Puts 6039 Mining Rigs to Work

SOS Limited (NYSE:SOS) Puts 6039 Mining Rigs to Work

by S. Jack Heffernan Ph.D
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SOS Limited (NYSE: SOS) (the “Company” or “SOS”) announced today that 6,039 mining rigs received over the past month have all been put into operation, including a batch of 575 Ethereum (ETH) mining rigs received on May 7, 2021, and another batch of 5,464 rigs from the third and final installation of our rig purchase received in April.

The 575 ETH rigs are expected to generate approximately 400 GH/s and the 5,464 rigs are expected to generate an aggregate of approximately 177 PH/s for mining Bitcoin (BTC) and 356 GH/s for mining ETH.

Currently, across all mining fleet operations, SOS’ total capacity is expected to generate approximately 527 PH/s for mining BTC and 1,456 GH/s for mining ETH. SOS currently gets over 90% of its energy for mining operations from renewable sources.

If the mining operations perform as expected and the  long-term price trends of applicable cryptocurrencies continue, the return on investment (ROI) is projected to be promising. These hash rates are subject to numerous factors, including down time for maintenance, reconfiguration and other variable factors that may materially impact computing performance in the future.

Mr. Yandai Wang, CEO of SOS, commented, “With the completion of Phase I of the Leibodong mine and continued expansion of our mining fleet, we are pleased with the progress on our digital currency business plan, based on blockchain technology. The launch of our mining business has provided valuable experience to our team, and is expected to be an important driver of growth in 2021 and beyond.”

About SOS Limited

SOS is an emerging marketing and solution provider based on blockchain and big data drive. It has about 20 million members in China. In July 2020, the headquarters of SOS moved from Gui’an new area to Qingdao West Coast new area. Recently, SOS has outlined its strategy in blockchain and cryptocurrency, including a series of measures to expand its business to cryptocurrency mining, cryptocurrency security and insurance and digital asset exchange. The core infrastructure of SOS’ marketing data, technology and solutions to insurance and emergency rescue services is built on big data, blockchain-based technology, cloud computing, AI, satellite, and 5G network, etc. SOS has created a cloud “software as a service (SaaS)” platform for emergency rescue services, with three major product categories: basic cloud, cooperative cloud, and information cloud. This system provides innovative marketing solutions 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.

SOS has obtained a national high-tech enterprise certification and the title of “Big Data Star Enterprise,” awarded by Gui’an New District Government. Staying on the forefront of digital technology innovation, the Company has registered 99 software copyrights and 3 patents. For more information, please visit: http://www.sosyun.com/ .

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