Sino-Global: Rises; acquires about 3,000 digital currency mining servers

Singularity Future Technology

11/03/2021 15:06

** Shares in shipping and freight logistic co  SINO.O  up
~5% at $7.05 in morning trade
    ** SINO announces expansion of its cryptocurrency market
position with the acquisition of 2,783 digital currency mining
servers from Hebei Yanghuai Technology Co
    ** The deal is valued at about 30 million yuan ($4.62
million)
    ** "The successful closing of this acquisition puts
Sino-Global ahead of schedule as we diversify our core business
into the fast growing cryptocurrency market," Lei Cao,
Sino-Global's CEO says
    ** Acquiring nearly 3,000 digital currency mining servers
gives co substantial platform, one that is expected to grow both
organically and through additional M&A opportunities, Cao adds
    ** Stock has jumped more than three-fold YTD


($1 = 6.4935 Chinese yuan renminbi)

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))