TAOP Forges MoU With Dennver Group To Purchase Ethereum Mining Machines

by Anusuya Lahiri, Benzinga Editor
August 11, 2021 9:48 AM | 1 min read |
  • Blockchain technology provider Taoping Inc TAOP inked a non-binding Memorandum of Understanding (MoU) with Dennver Group Holdings Limited to purchase Ethereum mining machines with a total hash rate of 500 GH/s.
  • The companies will set the purchase price of the Ethereum mining machines in cash and restricted shares of TAOP after the due diligence. 
  • TAOP aims to keep increasing operational hash rate and seize the significant opportunities in blockchain technology, TAOP Chair and CEO Jianghuai Lin said.
  • Taoping held $0.9 million in cash and equivalents as of Dec. 31.
  • Price Action: TAOP shares traded higher by 5.37% at $3.53 in the market session on the last check Wednesday.
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