NEW YORK, March 8, 2021 /PRNewswire/ -- Code Chain New Continent Limited (the "Company" or "Code Chain" or "We") (NASDAQ: CCNC), a leading eco-technology company, today announced that the execution of a purchase agreement (the "Agreement") with Bitmain Technologies Limited ("Bitmain"). Per the Agreement, Code Chain will purchase 2,000 Antminer S19j (90 TH/s) from Bitmain for $10,034,000.00, which are expected to be delivered by October 31, 2021.
Founded in 2013, Bitmain is a privately-owned company headquartered in Beijing, China. The company engages in application-specific integrated circuit chips for bitcoin mining, high-density server equipment, and large-scale parallel computing software. Bitmain is also an operator of Antpool, one of the largest Bitcoin mining pools. With offices located in China, the US, Israel, the Netherlands, and Switzerland, Bitman serves customers worldwide.
David (Weidong) Feng, Co-CEO of Code Chain, commented, "Given this equipment purchase agreement with the leading mining operator, Code Chain is well-positioned to achieve rapid growth in our cryptocurrency mining business. We are enthusiastic about the progress we have made since our initial cryptocurrencies expansion announcement. As we await the arrival of these best-in-class miners, we expect the purchased miners to generate remarkable value to the Company in its mining operations and its shareholders."
About Code Chain New Continent Limited
Founded in 2009, Code Chain New Continent Limited engages in the research, development, and sale of solid waste recycling systems for the mining and industrial sectors, the wholesale and sale of fuel materials, harbor cargo handling services and production and sales of coating materials in the PRC. It provides end-users in these markets with a clean alternative to traditional waste disposal by significantly reducing solid waste discharge into the environment and enabling such users to extract value from valuable metals and other industrial waste materials. Upon completion of Sichuan Wuge Network Games Co., Ltd. ("Wuge"), the Company has also diversified its business. Wuge was established in 2019 and is still in this early developing stage. Wuge produced electronic tokens that combine the five-W elements (when, where, who, why, what), geographic location via the Beidou satellite system and identity information using Code Chain technology. The electronic tokens are unique, tradable, and inheritable digital assets and cannot be tampered. The electronic tokens are based on and stored in the Code Chain system and can be used to monitor and document all kinds of consumer behaviors that involve code-scanning.
Safe Harbor Statements
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SOURCE Code Chain New Continent Limited