RTTNews | Apr 1, 2021 10:09AM EDT

10:08 Thursday, April 1, 2021 (RTTNews.com) - Shares of blockchain e-commerce company Future FinTech Group Inc. (FTFT) are surging more than 25% Thursday morning after the company signed a framework agreement with the shareholders of bitcoin mining company Nanjing Ribensi Electronic Technology Co. to acquire Nanjing Ribensi for RMB 60 million.

Nanjing Ribensi has a capacity to operate 30,000 bitcoin mining machines.

Mr. Shanchun Huang, Chief Executive Officer of Future FinTech, commented, "The bitcoin mining farm that we have targeted for potential acquisition not only enables us to deploy advanced bitcoin mining machines, but to potentially generate profits due to the expected low energy cost of the target mining farm since it uses local low cost of hydroelectricity to run the mining machines."

FTFT, currently at $7.74, has been trading in the range of $0.90- $11.29 in the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3182155/stock-alert-future-fintech-soars-25-following-acquisition-deal-with-nanjing-ribensi-shareholders.aspx)

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