Powerbridge Technologies Establishes Cryptocurrency Mining Fleets for Bitcoin and Ethereum in Hong Kong

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Plans to deploy 2,600 high-performance mining rigs in Hong Kong

Posted: Oct 8, 2021 at 8:15 a.m. CDT | Updated: 18 hours ago

ZHUHAI, China, Oct.8, 2021 / PRNewswire / – Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) (“Powerbridge” or the “Company”), a provider of SaaS solutions and Blockchain applications, is proud to announce that Powercrypto Holdings (“Powercrypto”), a subsidiary of the Company, is launching the mining cryptocurrency, specifically bitcoin (BTC) and ethereum (ETH), in Hong Kong. These cryptocurrency operations will use environmentally friendly, green and sustainable energy.

Powercrypto plans to complete the deployment of 2,600 high-performance mining rigs in Hong Kong, comprising 600 high-performance BTC mining machines with a hash rate of around 60 PH / s and 2,000 high-performance ETH mining machines with a hash of about 1000 GH / s.

Sean Wang, CEO and CTO of Powercrypto, said, “Powercrypto is a major strategic initiative for the company to highlight our global presence in the crypto mining industry. We will focus on improving our overall hash level in BTC and ETH mining. by setting up mining fleets in North America and Asia.

Powerbridge Technologies President Stewart Lor commented, “We are very excited about our launch and positioning as a global presence in the cryptocurrency mining industry.

About Powerbridge Technologies

Powerbridge Technologies Co., Ltd., a growth-oriented 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.

Safe Harbor Declaration

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding future plans, objectives, goals, strategies, events or performance, and assumptions underlying statements and other statements that are other than statements of historical fact. When the Company uses words such as “may,“ will ”,“ intention ”,“ should ”,“ believe ”,“ expect ”,“ anticipate ”,“ plan ”,“ estimate ”or expressions Similar matters that do not relate solely to matters, it makes forward-looking statements; in particular, the statements by the Company regarding listing on the NASDAQ Capital Market and the IPO are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties which may cause actual results to differ materially from the expectations of the Company discussed in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, the following: the objectives and strategies of the Company; the future business development of the Company; demand and acceptance of products and services; technological changes; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing risks and other risks contained in reports filed by the Company with the SEC. For these and other reasons, investors are cautioned not to place undue reliance on any forward-looking statements contained in this press release. Additional factors are discussed in the Company’s filings with the SEC, which can be viewed at www.sec.gov. The Company assumes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

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Powerbridge [email protected]

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