press release

April 12, 2022, 9:01 a.m. EDT

SOS Ltd. Announces Launch of North America Operations with Opening of its Super-Computing & Hosting Center in Wisconsin

QINGDAO, China, April 12, 2022/PRNewswire/ -- SOS Limited /zigman2/quotes/202902836/composite SOS +9.07% (the "Company" or "SOS") today announced launch ofits Super-Computing and Hosting Center in Wisconsin.

Over the past nine months, SOS management and its US team have been diligently developing its Super-Computing and Hosting Center in Wisconsin. Currently, SOS, through its majority owned joint venture, FD LLC, has secured a power supply of 25 MW at its facility in Price County Wisconsin, which is expected to be increased to 37MW after certain system improvements are completed.

The Center is designed to host super-computing servers inside mobile smart containers which are also called containerized data centers. These containers hold the complete technological infrastructure of a classic data center, but are housed in a steel container. Pictures of these self contained data centers can be found on the SOS website, ( http://www.sosyun.com/) . Currently SOS has 31 mobile smart containers in Wisconsin.

The initial step of Phase I of the Center is complete. It has a capacity of 5MW  and is currently hosting 4 mobile containers. This provides for the operation of up to 2,500 super-computing servers. The final step of Phase I will add an additional 20MW capacity and is expected to completed in the June timeframe.  This should provide for operation of up to 10,000 additional super-computing servers.

Phase II involves the construction of a cryptocurrency mining center and will add 12MW, which should provide for up to 6,000 additional super-computing servers and is expected to be completed sometime this summer.

Mr. Yandai Wang, CEO and Chairman of SOS, commented, "the initial launch of our mobile smart data hosting center solidifies our ongoing strategic transformation and our continued investment in North America. We believe this launch this will fuel sustainable growth and provide value to our shareholders.

About SOS Limited

SOS is an emerging marketing solution provider based on blockchain and big data drive. It is also engaged in blockchain and cryptocurrency business. At present, it includes cryptocurrency mining and may be extended to cryptocurrency security and insurance in the future. Since April 2021, we have carried out commodity transactions through our subsidiary SOS International Trading Co., Ltd. (the core infrastructure of SOS marketing data). The technologies and solutions of insurance and emergency rescue services are based on big data, blockchain based technology, cloud computing, artificial intelligence, satellite and 5G network. SOS has created a cloud "software as a service (SaaS)" platform for emergency rescue services. The products are divided into three categories: basic cloud, cooperative cloud and information cloud. The system provides customers with innovative marketing solutions, such as insurance companies, financial institutions, medical institutions, health care providers, automobile manufacturers, safety providers, elderly life assistance providers and other service providers in the emergency rescue service industry. For more information, visit: http://www.sosyun.com/ .

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Federal Securities Act, including but not limited to our expectations of future financial performance, business strategy or business. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. Forward looking statements may be identified by words such as "may", "can", "should", "will", "estimate", "plan", "project", "forecast", "intend", "expect", "predict", "believe", "seek", "target", "Outlook" or similar words. Specifically, forward-looking statements may include statements related to the following matters of the Company:

  • Ability to implement its business plan;

  • Changes in SOS product and service market; and

  • Expansion plans and opportunities.

These forward-looking statements are based on information available as of the date of this press release and our management's current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

These risks and uncertainties include, but not are limited to, the risk factors described by SOS in its filings with the Securities and Exchange Commission ("SEC"). These risk factors and those identified elsewhere in this press release, among others, could cause actual results to differ materially from historical performance and include, but are not limited to:

  • Local government's policies and regulatory oversight of crypto currency mining operation and our other operations;

  • SOS's blockchain and supercomputing, commodity trading and marketing solutions businesses are still under development, with many uncertainties in the future direction and integration of these various business segments;

  • Failure to manage the newly launched commodities trading business effectively;

  • Loss of key customers in the commodity trading business;

  • failure to access a large quantity of power at reasonable costs could significantly increase SOS operating expenses and adversely affect our clients' demand for SOS's super-computing hosting services and our own mining activities;

  • any significant or prolonged failure in the data warehouse facilities and data mining facilities that SOS operates or services it provides, including events beyond its control, would lead to significant costs and disruptions and would reduce the attractiveness of its facilities, harm its business reputation and have a material adverse effect on its results of operation;

  • security breaches or alleged security breaches of our data warehouses could disrupt SOS operations and have a material adverse effect on its business, financial condition and results of operation; uncertainty in global supply chain and international shipping and

  • other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS.

Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and you should not place undue reliance on these forward-looking statements in deciding whether to invest in our securities. We do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Cision
View original content: https://www.prnewswire.com/news-releases/sos-ltd-announces-launch-of-north-america-operations-with-opening-of-its-super-computing--hosting-center-in-wisconsin-301523787.html

SOURCE SOS Limited

COMTEX_405597105/2454/2022-04-12T09:00:52

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/zigman2/quotes/202902836/composite
US : U.S.: NYSE
$ 7.57
+0.63 +9.07%
Volume: 117,325
Aug. 8, 2022 10:08a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$39.53 million
Rev. per Employee
$2.14M
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