SOS Limited (NYSE: SOS) (the “Company” or “SOS”) announced today that the first phase of the Leibodong Mine has been completed and 575 sets of ETH cryptocurrency mining rigs have been delivered.
SOS leased approximately 1350 square meters of space from Leibodong Hydropower Station in Hejiang County, Luzhou City, Sichuan, in late March. SOS started the construction of a cloud cryptocurrency mining center and has recently completed the first phase of approximately 300 square meters which can accommodate approximately 1,100 rigs.
The previously announced purchase of 575 ETH mining rigs were received on May 7. The Company expects its team should be able to complete inspection and installation of these rigs in the near future. Upon completion of the installation and full on-line operation of all these mining rigs, the Company expects to obtain approximately 400 GH of ETH hash.
Mr. Yandai Wang, CEO of SOS, commented, “The overall plan of SOS’ digital currency business is systematically designed around blockchain technology. Leibodong project is a model for us to obtain low-cost electricity in Sichuan and other southwest regions, rich in renewable energy resources to expand our digital currency mining operations. The completion of the Phase I construction and the delivery of 575 ETH mining machines lay a solid foundation for the further success of our cloud cryptocurrency mining center in Leibodong. We expect our mining in Leibodong will provide us with multi-faceted experience to continue our research, development and commercialization of block-chain technology.”
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