TAOP Shares Pop On Cryptocurrency Mining JV In Kazakhstan - Taoping (NASDAQ:TAOP)

Blockchain technology and smart cloud services provider Taoping Inc TAOP subsidiary Taoping Digital Assets (Asia) Limited (TDAA) and Kazakhstan's Aral Petroleum Capital LLP (APC) agreed to a joint venture in Kazakhstan.
TDAA will have a 51% stake, and APC will own the remaining 49% in the joint venture, while TDAA will control the board.
Caspian Energy Inc subsidiary APC is an oil and gas exploration and development company.
The joint venture plans to invest and build cryptocurrency mining sites with a total capacity of 100MW.
The joint venture will operate and maintain cryptocurrency mining machines in Kazakhstan and plans to rent out excess operating capacity to third parties for additional income.
Taoping plans to deliver its Antminer S19j Pro Bitcoin mining machines to Kazakhstan for deployment pending their construction.
Price Action: TAOP shares traded higher by 10.92% at $3.96 in the premarket session on the last check Friday.