Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) (“Powerbridge” or the “Company”), a SaaS solutions and Blockchain applications provider, today announced that its wholly owned subsidiary, Powercrypto Holdings (“Powercrypto”) planned to expand its cryptomining business into North America.
Powercrypto is working with its local partner in bidding for a facility in Canada with the capacity to host up to 20,000 BTC and ETH mining rigs, powered by a sustainable and green energy supply. The Canadian government has been very supportive to the cryptocurrency industry, which provides incentives to Powercrypto to set up cryptomining fleets there. Powercrypto is also actively seeking more efficient and environmentally friendly mining sites in North America and Asia for its cryptomining operations.
Powerbridge Technologies President, Stewart Lor, commented:
"This decision will be an important milestone for our efforts in further strengthening our crypto business. We are thrilled to be positioning ourselves in Canada, as we believe the infrastructure and green energy supply are ideal for us to manage the BTH and ETH mining operations more efficiently."