ZHUHAI, China, Oct. 8, 2021 /PRNewswire/ -- Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) ("Powerbridge" or the "Company"), a SaaS solutions and Blockchain applications provider, is proud to announce that Powercrypto Holdings ("Powercrypto"), a subsidiary of the Company, is launching cryptocurrency mining, specifically bitcoin (BTC) and ethereum (ETH), in Hong Kong. These cryptocurrency operations will utilize environmental-friendly, green and sustainable energy.
Powercrypto expects to complete the deployment of 2,600 high-performance mining rigs in Hong Kong, encompassing 600 high-performance BTC mining machines with a hashrate of approximately 60 PH/s, and 2,000 high-performance ETH mining machines with a hashrate of approximately 1,000 GH/s.
Sean Wang, Powercrypto's General Manager and Chief Technology Officer, stated that: "Powercrypto is a major strategic move by the Company to highlight our global presence in the crypto-mining business. We will focus on enhancing our overall hashrate level in BTC and ETH mining by setting up mining fleets in North America and Asia."
Powerbridge Technologies President Stewart Lor, commented, "We are very excited about our launch and positioning as a global presence in the cryptocurrency mining business. We expect our high-performance environmental-friendly crypto-mining fleets to significantly accelerate our revenue."
About Powerbridge Technologies
Powerbridge Technologies Co., Ltd., a growth-driven technology company is primarily engaged in SaaS solutions and Blockchain applications. Powerbridge SaaS integrates AI, big data, and IoT offering SaaS platforms for cross-border e-commerce, supply chain, data intelligence, and IoT applications and devices. Powerbridge Blockchain consists of BTC and ETC mining and digital assets, IPFS distributed network services, and industry-specific Blockchain applications. For more information, visit www.powerbridge.com/ir.
Safe Harbor Statement
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SOURCE Powerbridge Technologies