Benzinga | Jan 5, 2022 08:38AM EST

Taoping Announces Hong Kong Data Center Expansion Plan

* Total hash rate will be increased by 100% to 700GH/s

* Approximately 350 Ether can be generated per Month by then

Taoping Inc. (NASDAQ:TAOP, the &ldquo, Company&rdquo, or &ldquo, TAOP&rdquo, ))), a provider of blockchain technology and smart cloud services, announced today that it has begun an expansion project of Taoping G Cloud Hong Kong Data Center (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 digital currency business in Hong Kong.

The site for this expansion is located in Tsuen Wan, Hong Kong. The Company plans to deploy additional general-purpose servers suitable for Ethereum in the Center. Once complete, the computing capacity of the expanded Center can be doubled, with an estimated total hash rate of 700GH/s and expected to generate about 350 Ether per month by the first quarter of 2022.

"We have made good progress on digital currency business since the launch of 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 growth for related business."