SOS Ltd. Enters Framework Agreement with Leibodong Hydropower Station in Hejiang , Luzhou City, Sichuan, to Secure Cheap and Renewable Electricity for its Cloud Crypto Mining Center
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QINGDAO, China, Feb. 5, 2021 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company" or "SOS") announced today that it has entered the framework agreement with Leibodong Hydropower Station ("Leibodong") in Hejiang, Luzhou, Sichuan Province, where hydropower resources are much richer and electricity prices much lower than the rest part of China. Pursuant to the agreement, Leibodong will supply SOS with electricity to its cloud crypto mining and big data center.
Leibodong is located in Dazuoba village, Fubao Town, Hejiang County, Luzhou, Sichuan Province. It is a level three cascade hydropower station of Dacao River Basin of Tang River, the first-level tributary of the upper Yangtze River. The normal water level of Leibodong is 560m, with the function of daily adjustments. Its adjustment capacity is 1.57 million m3. The actual installed capacity of the power station is 25000 KW, the average annual power generation is 99.8 million KW / h.
Pursuant to the agreement, Leibodong will supply electricity to a cloud crypto mining center to be built by SOS for a price between 0.22-0.38kW/h. The parties will enter into definitive agreement with respect to the price and other terms and conditions contemplated by the framework agreement. SOS expects the first shipment of crypto mining machine will be installed on or about Feb. 14, 2021.
SOS Chairman Yandai Wang commented, "one of the key success factors for cloud crypto mining is to secure cheap power in regions with rich renewable energy resources,. Southwest China, such as Sichuan province, is one of such regions. SOS will continue to search for cheap and sustainable electricity to execute its aspiring cloud crypto mining strategy."
About SOS Limited
SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. ("SOS") is a high-technology company providing a wide range of services to its corporate and individual members, including marketing data, technology and solutions for emergency rescue services. SOS transforms digital technology into data-driven operations through the research and development of big data, cloud computing, Internet of Things, blockchain and artificial intelligence.
We have created a SOS cloud emergency rescue service software as a service (SaaS) platform with three major product categories: basic cloud, cooperative cloud, and information. This system provides innovative marketing solutions to clients such as insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, security providers, senior living assistance providers, and other service providers in the emergency rescue services industry.
SOS has obtained a national high-tech enterprise certification and the title of "big data star enterprise," awarded by Gui'an New District Government. Staying on the forefront of digital technology innovation, the Company has registered 99 software copyrights and 2 patents. For more information, please visit: http://www.sosyun.com/
Certain statements made herein are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include timing of the proposed transaction; the business plans, objectives, expectations and intentions of the parties;, SOS's estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities market acceptance of our products; the ultimate impact of the current Coronavirus pandemic, or any other health epidemic, on our business, our research programs, healthcare systems or the global economy as a whole; our intellectual property; our reliance on third party organizations; our anticipated financial and operating results, including anticipated sources of revenues; our assumptions regarding the size of the available market, benefits of our product offering, product pricing, timing of product launches; management's expectation with respect to future acquisitions; statements regarding our goals, intentions, plans and expectations, including the introduction of new products and markets; and our cash needs and financing plans and etc. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. SOS may not realize its expectations, and its beliefs may not prove correct. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its 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.
Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC, including our Annual Report on Form 20-F for the fiscal year endedDecember 31, 2019. SOS's SEC filings are available publicly on the SEC's website at www.sec.gov. SOS disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.
View original content:http://www.prnewswire.com/news-releases/sos-ltd-enters-framework-agreement-with-leibodong-hydropower-station-in-hejiang--luzhou-city-sichuan-to-secure-cheap-and-renewable-electricity-for-its-cloud-crypto-mining-center-301222986.html
SOURCE SOS Limited
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