Benzinga | Mar 18, 2021 08:33AM EDT

Code Chain New Continent Limited Announces Delivery And Deployment Of 10,000 Purchased Bitcoin Mining Machines

Code Chain New Continent Limited (the "Company" or "Code Chain" or "We") (NASDAQ:CCNC), a leading eco-technology company, today announced that it completed the previously announced purchase of 10,000 Innosilicon T2T Bitcoin mining machines with Chengdu RiZhanYunJisuan Co., Ltd. The miners are expected to be immediately deployed to provide an estimated 240 PH/s of Bitcoin mining hash rate capacity.

To ensure regulatory compliance with mining machine delivery, the Company's Chief Financial Officer, Auditor, local legal counsel, and a third-party evaluation advisor supervised and diligently guided the proper delivery procedure of the 10,000 miners at several locations in Xinjiang, China from March 2 to 5, 2021.

David (Weidong) Feng, Co-CEO of the Company, commented, "We are pleased to have successfully purchased and delivered 10,000 Innosilicon T2T Bitcoin mining machines. Since the Bitcoin price recently surpassed $57,000, the values attributed to Bitcoin mining enterprises have risen dramatically. Code Chain is excited and focused on the tremendous market-driven opportunities, and continues to move forward with its expansion strategy to maximize our shareholder value."