79.5 F
New York
Saturday, June 19, 2021

Sino-Global [NASDAQ: SINO] Announces The Execution Of Purchase Agreement Of 2783 Digital Currency Operating Server

Must read

Maiar Crypto App Now Supports Bitcoin

Maiar brings an exciting opportunity for Bitcoin proponents as Elrond-powered mobile app Maiar can now store and transact with Bitcoin. Maiar is a non-custodial...

Kadant [NYSE: KAI] Announces Acquisition of Joh. Clouth

Kadant Inc. disclosed Thursday that it has decided to purchase Joh. Clouth GmbH & Co. KG and its affiliates (Clouth). The firm has...

VEON [NASDAQ: VEON] Announces Acquisition of AdTech in Russia

VEON Ltd disclosed that it has purchased a majority stake in OTM which is a technology platform for the automation and planning of...

MicroStrategy Decides to Sell $1B Stock With Plans To Buy More Bitcoin With Profit

Shares of MicroStrategy Incorporated skyrocketed 5.36% on Wednesday after the firm disclosed that it has decided to dump $1 billion worth of its...

Sino-Global Shipping America [NASDAQ: SINO] reported that the company is going to process the execution of the purchase agreement. The company purchased 2783 digital currency operation servers from Hebei Yanghuai Technology. The transaction cost was nearly US $4.6 million. The acquisition of the operation servers is another step for the company’s strategic expansion into the digital currency market.

Under contract terms, Sino will own 2783 operation servers. Out of 2783, 449 models are of love core A1, 150 models of Core Motonn T2T, 500 of Ant s9. The rest of the 1684 operation servers are of model Avalon 910/910S. After the completion of the transaction, Yanghuai will oversee and operate the Products at Yanghuai’s site with no further charge for 3 years.

Sino-Global will pay the initial installment of RMB 6 million within 15 days of consenting to the contract. The company will pay a second money installment of RMB 6 million within 15 days of acknowledgment of the Products. The company will pay the rest of the installment of RMB 18 million quarterly within 10 days following the recording of Form 10-K or Form 10-Q.

Mr. Lei Cao, CEO of Sino-Global, states “We are eager to report the purchase order. It exhibits the effectiveness of our management team’s capacity to rotate and execute another endeavor into digital currency. We are certain of the opportunity that the cryptocurrency industry introduces us. Moreover, we are confident in our ability to catch the development in the encouragement of our methodology to augment our stockholder value .”

More articles

Latest article

Thailand SEC Forbids Crypto Exchanges from Listing Meme Tokens, NFTs, and More

Thailand SEC has made a new decision that forbids crypto exchanges to list meme tokens, NFTs, and many more. The decision to ban certain...

China’s Cryptocurrency Mining Crackdown Appears to be Widening

The cryptocurrency mining crackdown of China is continuously increasing. It has been seen that government departments in the province of Yunnan are gearing up...

Accenture [NYSE: ACN] and Salesforce to Aid ISDI to Reduce its Environmental Impact

Accenture plc and Salesforce have partnered with ISDI to provide aid to the Salesforce-authorized global coaching organization. The firms will evaluate their carbon...

Iconix Brand [NASDAQ: ICON] to be Acquired by Iconix Acquisition Corp

Iconix Brand Group, Inc. disclosed that it has inked an agreement and plan of merger with Iconix Acquisition Corp. Iconix Brand Group is...

Binance Cryptocurrency Exchange to Launch a New NFT Platform

The Binance cryptocurrency exchange will be introducing a new on-chain NFT platform called "Featured by Binance". Cryptocurrency exchange Binance is joining the race of...

El Salvador Passes Bill to Accept Bitcoin as Legal Tender

EI Salvador has become the first country in Central America to pass the bill to accept Bitcoin as legal tender. It has been disclosed...

Gaming Platform Xaya Teams Up with Popular Ethereum Scaling Solution Polygon

Blockchain Gaming platform Xaya has joined hands with popular Ethereum scaling solution Polygon. Xaya has partnered with Polygon to improve the scalability of its...

Why CynergisTek [CTEK] is Skyrocketing Today?

CynergisTek, Inc. skyrocketed 24.73% during the trading session of Wednesday. The positive performance of the firm indicated the positive sentiments of the investors...