NEW YORK CITY, Jan. 17, 2023 /PRNewswire/ — Future FinTech Team Inc. (NASDAQ: FTFT) (hereinafter called “Future FinTech”, “FTFT” or the “Company”), a blockchain energy designer and also a fintech solution provider, presented quickly that its Paraguayan wholly-owned subsidiary FTFT Paraguay S.A. (“FTFT Paraguay”) has actually achieved the key structure area of its cryptocurrency mining ranch placed in Mariano Roque Alonso, Paraguay, and also the ranch has actually been powered on and also started procedures.
The Paraguayan cryptocurrency mining ranch has an ability of 3 megawatts and also might fit approximately 900 mining makers. Today, there are 4 well-appointed mobile crypto mining containers that help a variety of mining gears and also one maintenance container on site. On December 30, 2022, the key set of Antminer S19 collection mining makers organized by FTFT Paraguay on its mining ranch for its potential customers achieved their power-on checks and also had actually been officially taken into procedure.
An vital quality of cryptocurrency mining in Paraguay is that it takes advantage of hydroelectric, environmentally-friendly clear vigor as an outcome of Paraguay’s ITAIPU Hydroelectric Dam. The dam, which lacks question among the biggest hydroelectric dams on this world, has actually an put in modern technology ability of 14 gigawatts (according to Wikipedia). Paraguay urges cryptocurrency development as an outcome of its unused hydropower ability which provides an distinctive choice for FTFT to connect in cryptocurrency venture activities in Paraguay. The Paraguayan authorities has actually provided durable help to FTFT using mine site selection, power ability and also electric power working expenditures. FTFT thinks that its blockchain experience and also expertise along with its desire for indigenous staff members is of earnings to Paraguay.
Mr. Xu Kai, Vice Head Of State of Future FinTech’s Blockchain Department, pointed out, “I’m really delighted that our FTFT Paraguay cryptocurrency mining ranch has actually successfully released its very first set of mining makers. The key endeavor area, prepared for to be achieved in 2023, is for the growth of 2 medium-sized mining ranches of 15MW every to understand a total of at the minimum 30MW of handling power. Our 2nd endeavor area, prepared for to be achieved in 2024 and also 2025, is concentrating on 100MW of handling power.”
“FTFT’s cryptocurrency mining ranch in northwest Ohio has actually had its very first set of mining equipment in procedure beginning in October 2022, and also the Ohio project is prepared for to release about 12,000 S19 Antminers and also fit regarding 1.3 EH/s of hash power upon conclusion of Component One of the endeavor. For the brand-new endeavor in Paraguay, we’re making use of lasting eco-friendly vigor to create cryptocurrency mining ranches to be green and also to secure fairly reduced lasting working costs, while we’re furthermore committed to producing mining ranches on a cost-effective structure. We take into consideration that our financing within the cryptocurrency mining profession will certainly produce solid mining hash computer power which has the ability to result in hopeful go back to our investors.” Mr. Xu wrapped up.
About Future FinTech Team Inc.
Future FinTech Team Inc. is a blockchain energy expertise designer and also fintech solution provider consisted of in Florida. The Company’s procedures personify a blockchain-based internet getting shopping center system, Chain Cloud Shopping Center (“CCM”), supply chain funding service providers, property management, cryptocurrency mining, cash money button solution and also cryptocurrency market details service providers. The Company is furthermore producing blockchain-based shopping expertise, cryptocurrency financing management, and also financial solution expertise business. For additional information, please most likely to http://www.ftft.com/.
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