Singularity Future Technology and Golden Mainland Form Bitcoin Mining Joint-Venture | News

Firms Commit to Building a Whole of 1GW of Bitcoin Mining Web pages in the US

Fantastic NECK, N.Y., April 11, 2022 /PRNewswire/ — Singularity Potential Engineering Ltd. (“Singularity” or the “Firm”) (NASDAQ: SGLY) and Golden Mainland Inc. (“Golden Mainland“) declared today the formation of a Bitcoin mining web site joint undertaking.

The joint venture (the “Joint Venture”) strategies to commit up to $250 million in excess of time to establish a complete of 1GW of mining internet sites in Texas, Ohio, and other states, with capability for up to 300,000 Bitcoin miners, every single with 3,400 watts/hour in electrical power consumption. Singularity is a worldwide logistics and blockchain technology corporation engaged in delivery, chartering, logistics solutions and technology companies. Golden Mainland is a enterprise engaged in the provision of electricity providers in North America.

Beneath the terms of the Joint Undertaking, Singularity will personal 51%, and Golden Mainland will have 49%, with each and every occasion contributing money in accordance with its ownership curiosity. Singularity expects to make its original capital contribution of about $10 million to the Joint Venture from out there money.

Mr. Yang “Leo” Jie, Main Government Officer of Singularity Foreseeable future Know-how, commented, “We are excited to husband or wife with Golden Mainland in this Joint Venture. We think that investing in and creating out internet sites with Bitcoin mining capability will supply a platform with the scale to assistance the demand from customers stages in the field.”

About Golden Mainland Inc.

Golden Mainland is a enterprise engaged in power services in North The united states. The company’s business contains: provide of energy, energy infrastructure, transformers, power station mergers and acquisitions, and greenhouse agricultural functions. Golden Mainland owns nuclear electric power, hydropower, wind electricity, solar electricity, geothermal electricity, biomass vitality, and so forth. The organization operates 10+GW of energy resource use legal rights, and has diversified expense portfolios in the United States, Canada and other countries. For additional details visit www.globalmainland.com.

About Singularity Foreseeable future Know-how Ltd.(NASDAQ: SGLY)

On January 3, 2022, the Business adjusted its name from Sino-World wide Shipping America, Ltd. to Singularity Foreseeable future Technologies Ltd. (NASDAQ: SGLY). Since 2020, it has been developing a presence in the revolutionized Blockchain provide management place by concentrating on revolutionary remedies for globally interconnected networks and establishing point out-of-the-art crypto mining swimming pools. As the Blockchain landscape frequently shifts, the Business strives to supply frictionless involvement and a growth-enabling ecosystem for its clients in this at any time-altering room. The Business is making on its extensive track document of success as a international logistics and ship administration solutions company, founded in 2001 in New York, with subsidiaries in New York, Houston, Montreal, Hong Kong, Shanghai, and Ningbo, China. The Business has provided buyers through the planet with all of their shipping and delivery logistics and agency requires as a full-assistance company. Additional information about the Firm can be uncovered on the Firm’s corporate web page at www.singularity.us.

Ahead-On the lookout Statements

Selected statements built herein are “ahead-searching statements” in the that means of the “risk-free harbor” provisions of the Personal Securities Litigation Reform Act of 1995. Ahead-seeking statements may be identified by the use of words and phrases such as “foresee”, “believe”, “assume”, “estimate”, “approach”, “outlook”, and “task” and other identical expressions that predict or point out potential functions or traits that are not statements of historic matters. This sort of ahead-on the lookout statements incorporate SGLY’s believed and long run success of operations, enterprise techniques, aggressive place, industry atmosphere and possible expansion prospects. In addition, there is uncertainty about the unfold of the COVID-19 virus and the effect it will have on SGLY’s functions, the demand for SGLY’s products and solutions, world wide offer chains and financial activity in typical. Additionally, the value of cryptocurrencies may well fluctuate substantially above time, and the results of the JV and its products are not assured. These forward-on the lookout statements reflect the current investigation of present information and facts and are topic to a variety of hazards and uncertainties. As a end result, warning ought to be exercised in relying on ahead-seeking statements. Because of to recognized and unknown hazards, our precise final results may possibly vary materially from our anticipations or projections. All ahead-on the lookout statements attributable to the Corporation or people performing on its behalf are expressly certified in their entirety by these elements. Other than as demanded less than the securities regulations, the Business does not assume a duty to update these forward-looking statements.

More information and facts concerning these and other variables that may possibly impact our expectations and projections will be discovered in our periodic filings with the SEC, which includes our Once-a-year Report on Type 10-K for the fiscal year ended June 30, 2021. SGLY’s SEC filings are out there publicly on the SEC’s site at www.sec.gov. SGLY disclaims any obligation to update the ahead-seeking statements, whether or not as a final result of new information, upcoming situations or if not.

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Resource Singularity Foreseeable future Engineering Ltd.

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