Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) (“Powerbridge” or the “Company”), a SaaS solutions and Blockchain applications provider, today announced that the Company has entered into a cryptocurrency mining machine purchase agreement (the “Agreement”) with Cryptodigital Holdings Ltd. Pursuant to the Agreement, the Company will acquire a total of 5,600 bitcoin (BTC) and ethereum (ETH) mining machines which are scheduled to be delivered starting from October 2021.
The above-mentioned 5,600 mining machines include 2,000 BTC miners and 3,600 ETH miners. The 2,000 BTC miners are composed of Antminer S19 Pro, Antminer S19 and other models with high hash rate and high energy efficiency, representing an expected hash rate of 200 PH/s. The 3,600 ETH miners are composed of high performance RTX 3070, RTX 3060 Ti and other models, representing an expected hash rate of 1,700 GH/s.
“Once these miners are deployed, we should start to see a sharp increase in our bitcoin and ethereum production capacity,” said Stewart Lor, President and Chief Financial Officer of Powerbridge Technologies. “We expect to continue to invest and acquire crypto mining machines to enhance our overall computing power for BTC and ETH.”