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TAOP Announces Hong Kong Data Center Expansion Plan to Boost Ethereum Business

HONGKONG, Jan. 05, 2022 (GLOBE NEWSWIRE) – Taoping Inc. (NASDAQ: TAOP, the “Company” or “TAOP”), a provider of blockchain technology and intelligent cloud services, today announced that it has launched a project Taoping G Cloud Hong Kong Data Center Expansion (the “Center”). The expansion is expected to be completed by the end of January 2022.

High capacity fiber connectivity and world class infrastructure make Hong Kong a desirable data center location for TAOP. Following the launch of the Center in May 2021, the expansion plan shows the Company’s confidence in developing the digital currency business in Hong Kong.

The site of this expansion is located in Tsuen Wan, Hong Kong. The company plans to deploy additional general-purpose servers suitable for Ethereum in the center. When complete, the expanded center’s compute capacity can be doubled, with an estimated total hash rate of 700GH / s, and is expected to generate around 350 Ether per month by Q1 2022.

“We have made good progress in digital currencies since the launch of the Taoping G Cloud Hong Kong data center,” said Mr. Jianghuai Lin, Chairman and CEO of TAOP. “The expansion of the data center is expected to meet the company’s growing demand for cloud computing resources and support the growth of related businesses. “

On tap Inc.

Taoping Inc. (TAOP) is a provider of blockchain technology and intelligent cloud services. The Company is dedicated to the research and application of blockchain technology and digital assets, and continues to improve computing power and create value for the crypto digital currency industry. Leveraging its self-developed intelligent cloud platform, TAOP also provides cloud solutions and services to industries such as new media and artificial intelligence. To learn more, please visit http://www.taop.com/.

Safe Harbor Declaration

This press release contains “forward-looking statements” that involve substantial risks and uncertainties. All statements other than statements of historical fact contained in this press release, including statements regarding our future results of operations and financial condition, our strategy and plans, and our expectations for future operations, are statements. forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by using terms such as “expects”, “believes”, “may”, “continue”, “may”, “believes”, “expects”, “has the” intention of “,” could “,” could “,” foresees, “potential”, “predict”, “should” or “will” or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed here, or suggested by these forward-looking statements.

All forward-looking statements contained in this press release are only estimates or predictions of future events based on information currently available to our management and management’s current beliefs about the potential outcome of future events. There are many risks associated with the fact that these future events will occur as management anticipates, that we will achieve our business objectives, and that our income, results of operations or financial condition improve in future periods. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: our potential inability to achieve or maintain profitability or reasonably predict our future results due to our limited operating history of providing blockchain technology and smart cloud services, the effects of the global Covid-19 pandemic, the emergence of additional competing technologies, changes in domestic and foreign laws, regulations and taxes, related uncertainties to the Chinese legal system and to economic, political and social events in China, the volatility of the securities markets; and other risks, including, but not limited to, those discussed or mentioned in the Company’s disclosure documents filed with the United States Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the most recent Annual Report of the Company on Form 20-F as well as in our other reports filed or provided from time to time with the SEC. You should read these factors and the other caveats in this press release. If one or more of these factors materialize, or if underlying assumptions prove to be incorrect, our actual results, performance or achievements may differ materially from the future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release, and TAOP assumes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

For more information, please contact:

tap Inc.
Chang Qiu
Email: [email protected]
http://www.taop.com/
Where

Dragon Gate Investment Partners LLC
Phone. : +1 (646) -801-2803
Email: [email protected]


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