Future FinTech Announces Paraguayan Cryptocurrency Mining Farm is Operational

Future FinTech Declares Paraguayan Cryptocurrency Mining Farm is Operational

NEW YORK, Jan. 17, 2023 /PRNewswire/ — Future FinTech Group Inc. (NASDAQ: FTFT) (hereinafter often called “Future FinTech”, “FTFT” or the “Agency”), a blockchain software program developer and a fintech service provider, launched right now that its Paraguayan wholly-owned subsidiary FTFT Paraguay S.A. (“FTFT Paraguay”) has completed the first constructing a part of its cryptocurrency mining farm positioned in Mariano Roque Alonso, Paraguay, and the farm has been powered on and begun operations.

The Paraguayan cryptocurrency mining farm has a functionality of three megawatts and should accommodate approximately 900 mining machines. In the mean time, there are 4 well-equipped mobile crypto mining containers that help plenty of mining rigs and one maintenance container on website online. On December 30, 2022, the first batch of Antminer S19 assortment mining machines hosted by FTFT Paraguay on its mining farm for its purchasers completed their power-on checks and have been formally put into operation.

FTFT Cryptocurrency Mining Farm in Paraguay

An important attribute of cryptocurrency mining in Paraguay is that it makes use of hydroelectric, environmentally-friendly clear energy attributable to Paraguay’s ITAIPU Hydroelectric Dam. The dam, which is doubtless one of many largest hydroelectric dams on this planet, has an put in period functionality of 14 gigawatts (according to Wikipedia). Paraguay encourages cryptocurrency enchancment attributable to its unused hydropower functionality which provides an distinctive different for FTFT to interact in cryptocurrency enterprise actions in Paraguay. The Paraguayan authorities has given strong help to FTFT relating to mine website online selection, power functionality and electrical power working prices. FTFT believes that its blockchain expertise and experience along with its need for native workers is of revenue to Paraguay.

Mr. Xu Kai, Vice President of Future FinTech’s Blockchain Division, acknowledged, “I am very happy that our FTFT Paraguay cryptocurrency mining farm has effectively deployed its first batch of mining machines. The first mission half, anticipated to be completed in 2023, is for the event of two medium-sized mining farms of 15MW each to comprehend an entire of a minimum of 30MW of processing power. Our second mission half, anticipated to be completed in 2024 and 2025, is specializing in 100MW of processing power.”

FTFT Cryptocurrency Mining Farm in Ohio, USA

FTFT Cryptocurrency Mining Farm in Ohio, USA

“FTFT’s cryptocurrency mining farm in northwest Ohio has had its first batch of mining machine in operation beginning in October 2022, and the Ohio project is anticipated to deploy roughly 12,000 S19 Antminers and accommodate about 1.3 EH/s of hash power upon completion of Half One of the mission. For the model new mission in Paraguay, we’re using sustainable renewable energy to develop cryptocurrency mining farms to be eco-friendly and to protected comparatively low sustainable working costs, while we’re moreover devoted to rising mining farms on a cheap basis. We take into account that our funding inside the cryptocurrency mining commerce will generate sturdy mining hash computing power which may finish in optimistic returns to our shareholders.” Mr. Xu concluded.

About Future FinTech Group Inc.

Future FinTech Group Inc. is a blockchain software program experience developer and fintech service provider built-in in Florida. The Agency’s operations embody a blockchain-based on-line buying mall platform, Chain Cloud Mall (“CCM”), present chain financing firms, asset administration, cryptocurrency mining, money change service and cryptocurrency market information firms. The Agency is moreover rising blockchain-based e-Commerce experience, cryptocurrency funding administration, and financial service experience firms. For further data, please go to http://www.ftft.com/.

Protected Harbor Assertion

Certain of the statements made on this press launch are “forward-looking statements” contained in the which implies and protections of Half 27A of the Securities Act of 1933, as amended and Half 21E of the Securities Change Act of 1934, as amended, or the Change Act. Forward-looking statements embody statements with respect to our beliefs, plans, targets, targets, expectations, anticipations, assumptions, estimates, intentions, and future effectivity, and include recognized and unknown risks, uncertainties and totally different elements, which could be previous our administration, and which may set off the exact outcomes, effectivity, capital, possession or achievements of the Agency to be materially completely totally different from future outcomes, effectivity or achievements expressed or implied by such forward-looking statements. All statements apart from statements of historic actuality are statements that might presumably be forward-looking statements. You presumably can set up these forward-looking statements by our use of phrases equal to “may,” “will,” “anticipate,” “assume,” “should,” “level out,” “would,” “take into account,” “ponder,” “depend on,” “estimate,” “proceed,” “plan,” “degree to,” “mission,” “could,” “intend,” “aim” and totally different comparable phrases and expressions of the long term.

All written or oral forward-looking statements attributable to us are expressly licensed of their entirety by this cautionary uncover, along with, with out limitation, these risks and uncertainties described in our annual report on Sort 10-Okay for the yr ended December 31, 2021 and our totally different evaluations and filings with SEC. Such evaluations could be discovered upon request from the Agency, or from the Securities and Change Payment, along with by the SEC’s Internet website online at http://www.sec.gov. We have got no obligation and do not undertake to interchange, revise or proper any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements in another case are made.

IR Contact:
Future FinTech Group Inc.
Tel: +1-888-622-1218
Electronic message: ir@ftft.com

(PRNewsfoto/Future FinTech Group Inc.)

(PRNewsfoto/Future FinTech Group Inc.)



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SOURCE Future FinTech Group Inc.

Author: ZeroToHero

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