SOS Ltd buys more crypto mining rigs to boost operations

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SOS Limited announced it has finally acquired the third batch of its 5,464 cryptocurrency mining rigs to boost its operations.

After the delivery of the rigs, the SOS team immediately started inspection and configuration, and installation procedures. After these rigs go live, they are expected to generate around 177 Peta-Hashes per second for mining Bitcoin and 356 Giga-Hashes per second for mining Ethereum.

If things go according to plan, the long-term return of investment is seen to be very promising, although the mentioned hash rates are subjected to numerous factors such as maintenance downtime, reconfiguration, among other factors that might affect computing performance in the times to come.

Decent First Quarter Results for SOS

For the first quarter of 2021, the company’s mining operations have generated 42 Bitcoins and 916 Ethereums. Chief Financial Officer Steven Li pointed out that this is just a part of the company’s quarter operations output.

He added that the number of digital currencies produced was higher than what they expected and that they see an increase in their output as a result of the installation of the newly acquired mining rigs.

Moreover, the company clarified that the mining gains are exclusive of any of their financial results. This does not address non-mining operations such as marketing data, technology, and solutions for emergency rescue services.

About SOS Limited

SOS Limited is an upcoming blockchain-based, major data-driven marketing and solution provider, boasting a nationwide 20 million membership base in China.

The company’s strategy in blockchain and cryptocurrencies include investments in digital currency mining as well as security and insurance of the same.

The system employed by the company provided innovative solutions to clients that include insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, security providers, senior living assistance providers, and other service providers in the emergency rescue services industry.

Image courtesy of Roensch Capital/YouTube

Jet Encila

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Jet Encila

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