Future FinTech Enters Into New Bitcoin Mining Hosting Agreement For Its Cryptocurrency Farm In Norwalk, Ohio
Portfolio Pulse from Benzinga Newsdesk
Future FinTech Group Inc. (FTFT) announced a new Bitcoin mining hosting agreement with Tech Solution Inc. for hosting Bitcoin miners at FTFT's cryptocurrency farm in Norwalk, Ohio. The agreement, effective from April 15, 2024, to April 30, 2025, involves hosting services for miners including the Antminer S19j Pro with a maximum power load of 4.0 MW. The service fee will be based on electricity consumption, with FTFT SuperComputing providing the hosting site and continuous power supply. The company aims for efficient Bitcoin mining and expects a substantial return on investment from this venture.
April 30, 2024 | 12:14 pm
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POSITIVE IMPACT
Future FinTech's new hosting agreement for Bitcoin mining in Ohio with Tech Solution is expected to enhance its service offerings and potentially increase revenue through the hosting fees based on electricity consumption.
The agreement with Tech Solution to host Bitcoin miners at FTFT's Ohio farm is a strategic move to expand its digital technology services. By providing hosting services based on electricity consumption, FTFT is likely to see an increase in revenue, assuming a successful implementation and operation of the miners. The company's focus on cost efficiency, infrastructure, security, and expertise in Bitcoin mining positions it for potential success and a substantial return on investment, which could positively impact its stock price in the short term.
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