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SHENZHEN, April 19, 2021 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of Internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced the launch of a “Taoping G Cloud Data Center” in Dong-guan City, a neighboring city of Shenzhen. The Company plans to deploy a total of 3,000 of general-purpose servers suitable for Ethereum and cloud desktops in the data center in 2021, with a total hashrate of 1,450,000 MH/s. The first batch of 300 general-purpose servers has been deployed and started operations.
The Taoping G Cloud Data Center is located in Dong-guan Science and Technology Park in Fenggang, Dong-guan City, China. Owned by a company whose major shareholder is Mr. Jianghuai Lin, Chairman and CEO of TAOP, the park covers an area of about 538,000 square feet, with a construction area of about 1,076,000 square feet. The park will provide further strong support as needed to the deployment of additional Taoping servers for future expansions.
Driven by faster data transfer speed brought by broadband (5G, etc.) technologies and further accelerated by the COVID-19 pandemic, more and more computing services are migrated to the cloud. With applications in different fields such as personalized medicine, online education, online games, and conversational AI, the demand for GPU computing power continues to grow rapidly. Recent projections from Orbis Research indicate the value of the GPU market will increase with a compound annual rate of 31 percent, rising from $20.6 billion in 2019 to $104.7 billion by 2025. The opening of Taoping G Cloud Data Center is a significant step for the Company’s digital transformation and will accelerate the development of TAOP’s cloud services.
“The launch of Taoping G Cloud Data Center is another milestone for the Company's deployment of blockchain technology and GPU cloud computing power,” said Mr. Jianghuai Lin, the Chairman and CEO of TAOP. “We plan to deploy multiple data centers at home and abroad in accordance with business development needs, and to realize the scale of cloud computing power and interconnection of inter-regional data centers.”
About Taoping Inc.
Taoping Inc. (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/.
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as "believes", "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their 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.
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Dragon Gate Investment Partners LLC