SOS Ltd Provides Operating Update of its Super-Computing Centers in the U.S.
NEW YORK, March 8, 2024 /PRNewswire/ -- SOS Limited ("SOS" or the "Company") (NYSE: SOS) provides update of its two Super-Computing centers in the U.S.
SOS Ltd is providing an interim operating snapshot of it's North American Super-Computing Centers. Between January 2023 and February 29, 2024 SOS has mined a total of 29.434 BTC. Through its majority owned joint venture, FD LLC, SOS operates 726 Thor miner S99 in the Wisconsin Super-Computing Center and 1,086 Thor miner S99 in the Texas Super-Computer Center. Assuming a per unit price of 61,000 USD, the total BTC output value for these centers was approximately USD1.8 million.
Additionally, FD Ltd., is hosting approximately 7400 S19 XP miners in the Texas site which has a 42MW capability. Since March 2023, the company has generated approximately $5 million in hosting revenues.
Mr. Yandai Wang, CEO and Chairman of SOS, commented, "The encouraging operational results reaffirms the progress of our North American growth strategy, we will continue to push through execution of this strategy and expect continued growth in 2024."
About SOS Limited
SOS is an emerging blockchain-based service solution provider and also engaged in blockchain and cryptocurrency operations, which currently include cryptocurrency mining and maybe expand into cryptocurrency security. Since April 2021, we launched commodity trading via our subsidiary SOS International Trading Co. Ltd; major trading commodity includes mineral resin, soy bean, wheat, sesame, liquid sulfur, petrol coke and latex etc. For more information, please visit: http://www.sosyun.com/.
Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Federal Securities Act, including but not limited to our expectations of future financial performance business strategy or business. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees, SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. Forward looking statements maybe identified by words such as "'may","can", "should", "will", "estimate", "plan", "project", "forecast", "intend""expect", "predict", "believe", "seek", "target", "Outlook" or similar words. Specifically, forward-looking statements may include statements related to the following matters of the company:
Ability to implement its business plan;
Changes in SOS product and service market; and
Expansion plans and opportunities.
These forward-looking statements are based on information available as of the date of this press release and our management's current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.
These risks and uncertainties include, but not are limited to, the risk factors described by SOS in its filings with the Securities and Exchange Commission ("SEC"). These risk factors and those identified elsewhere in this press release, among others, could cause actual results to differ materially from historical performance and include, but are not limited to:
Local government's policies and regulatory oversight of crypto currency mining operation and our other operations;
SOS's blockchain and super computing, commodity trading and marketing solutions businesses are still under development, with many uncertainties in the future direction and integration of these various business segments;
Failure to manage the newly launched commodities trading business effectively;
Loss of key customers in the commodity trading business;
Failure to access a large quantity of power at reasonable costs could significantly increase SOS operating expenses and adversely affect our demand for SOS's mining activities;
Any significant or prolonged failure in the data warehouse facilities and data mining facilities that SOS operates or services it provides, including events beyond its control, would lead to significant costs and disruptions and would reduce the attractiveness of its facilities, harm its business reputation and have a material adverse effect on its results of operation;
Security breaches or alleged security breaches of our data warehouses could disrupt SOS operations and have a material adverse effect on its business, financial condition and results of operation; uncertainty in global supply chain and international shipping and
Fluctuation in the crypto currency price.
Other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS.
Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and you should not place undue reliance on these forward-looking statements in deciding whether to invest in our securities. We do not undertake any obligation to update forward-looking.
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SOURCE SOS Ltd.
