Future FinTech Announces Ohio Cryptocurrency Mining Farm Is Operational As It Deploys First Phase Of Mining Machines

NEW YORK, 2 November 2022 /PRNewswire/ — Future FinTech Group Inc. (NASDAQ: FTFT) (“Future FinTech”, “FTFT” or the “Company”), a blockchain application technology developer and fintech service provider, today announced that its wholly owned subsidiary, FTFT SuperComputing Inc. (“FTFT SuperComputing”), has completed the first construction phase of the development of its cryptocurrency mining in the northwest Ohio. After test procedures, on 24 October 2022the first mining machines in the Antminer S19 series were put into operation.

As announced in May 2022FTFT Supercomputing entered into a power sale and purchase agreement with the power supplier Champion Energy Services, LLC, and transmission of electricity for Ohio cryptocurrency mining farm was activated on 1 July 2022.

MR. Kai XuVice President of Future FinTech’s Blockchain Division, said: “We are pleased to have successfully deployed the first batch of Antminer S19 series mining machines this spring Ohio cryptocurrency mining farm, which is the first step in the first phase of the project to deploy approximately 12,000 S19 Antminers and accommodate approximately 1.3 EH/s of hash power in Ohio. Our strategic plan for this business segment is to develop cryptocurrency mining farms in different regions of the world and accelerate their deployment using our own capabilities or through cooperative agreements with strong partners. We believe that our cryptocurrency mining in Ohio will succeed and will meet the goals we have set for it.”

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Future FinTech Group Inc. is a blockchain application technology developer and fintech service provider incorporated in Florida. The Company’s operations include a blockchain-based online shopping mall platform, Chain Cloud Mall (“CCM”), supply chain financing services, asset management and cryptocurrency market data services. The company also develops blockchain-based e-commerce technology, cryptocurrency mining, money transfer services and financial services technology. For more information, please visit http://www.ftft.com/.

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SOURCE Future FinTech Group Inc.