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Powerbridge Technologies to Expand its Cryptocurrency Mining Operations into North America

2021-12-16 08:30 ET - News Release

Bidding for a Facility with the Capacity to Host Up to 20,000 Mining Rigs

ZHUHAI, China, Dec. 16, 2021 /PRNewswire/ -- Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) ("Powerbridge" or the "Company"), a SaaS solutions and Blockchain applications provider, today announced that its wholly owned subsidiary, Powercrypto Holdings ("Powercrypto") planned to expand its cryptomining business into North America.

Powercrypto is working with its local partner in bidding for a facility in Canada with the capacity to host up to 20,000 BTC and ETH mining rigs, powered by a sustainable and green energy supply. The Canadian government has been very supportive to the cryptocurrency industry, which provides incentives to Powercrypto to set up cryptomining fleets there. Powercrypto is also actively seeking more efficient and environmentally friendly mining sites in North America and Asia for its cryptomining operations.

Powerbridge Technologies President, Stewart Lor, commented: "This decision will be an important milestone for our efforts in further strengthening our crypto business. We are thrilled to be positioning ourselves in Canada, as we believe the infrastructure and green energy supply are ideal for us to manage the BTH and ETH mining operations more efficiently."

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/.

FORWARD-LOOKING STATEMENT 

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws, including, but not limited to, our expectations for future financial performance, business strategies or expectations for our business. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Company cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Words such as "may," "can," "should," "will," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "target," "look" or similar expressions may identify forward-looking statements. There is no assurance that the supercomputing center will be established as planned, when it will start operation nor any of the planned activities will be implemented by the supercomputing center. Specifically, forward-looking statements may include statements relating to the Company's: ability to execute its business plan; changes in the market for Company's products and services; andexpansion 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 Powerbridge 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.

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 statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Powerbridge SEC filings are available publicly on the SEC's website at www.sec.gov. Powerbridge disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.

For more information, please contact:

Investor Relations:
Powerbridge Technologies
ir@powerbridge.com

ClearThink
nyc@clearthink.capital

View original content:https://www.prnewswire.com/news-releases/powerbridge-technologies-to-expand-its-cryptocurrency-mining-operations-into-north-america-301446261.html

SOURCE Powerbridge Technologies

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