SHENZHEN, April 13, 2021 (GLOBE NEWSWIRE) — Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of Internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, announces today that it has entered into exclusive strategic cooperation and joint operation agreement with Ordos Blockchain Cloud Computing Technology Co., Ltd. (“Chain Cloud Technology”), a cloud service provider located in Ordos, Inner Mongolia, China, to jointly establish and operate a GPU cloud computing power trading platform, and strive to make it a successful model for Ordos City Industrial Park for Cloud Computing.
Established in 2017, Chain Cloud Technology provides various custom services, including hardware procurement, server leasing, data center hosting, and daily operations & maintenance. Chain Cloud Technology manages over 100,000 servers and its data rooms have an energy consumption quota of 60,000 kVA.
Pursuant to the exclusive strategic cooperation and joint operation agreement, TAOP will invest and deploy 10,000 GPU cloud servers and corresponding data cabinets in several phases with Chain Cloud Technology to provide Taoping’s smart cloud services: cloud desktop, cloud rendering, cloud gaming, artificial intelligence, digital assets and other blockchain applications. Both parties will jointly build and operate a GPU cloud (“Taoping G Cloud”) computing power trading platform, and Chain Cloud Technology will ensure most efficient and cost-effective operation, maintenance and power services for Taoping G Cloud.
Last month, TAOP signed agreement with Shanghai Guanghua Education to collaborate in cloud desktop and digital education. Taoping G Cloud is planned to provide cloud desktop and digital education services initially to over 10,000 students and faculties of Guanghua Schools, and further to roll out nationally in China with implementations at Guanghua Schools as a benchmark and demonstration base. Taoping G Cloud is also planned to serve Taoping’s Blockchain and Digital Assets Business Division and other 3rd parties with stable and sustained computing power. Furthermore, Taoping G Cloud will expand in China cloud desktop, cloud rendering, cloud gaming, and artificial intelligence services based on the advanced technologies of Render Lake upon the closing of the announced acquisition of Render Lake Tech Ltd.
“High-performance GPU servers and Taoping G Cloud are critical components of Taoping’s growth strategy for our Digital Culture Business Division, our Blockchain and Digital Asset Business Division, and our NFT Business Division,” said Mr. Jianghuai Lin, the Chairman and CEO of TAOP. “We believe the cooperation with Chain Cloud Technology in jointly operating Taoping G Cloud will give TAOP competitive advantages in achieving both sustained growth and scalable expansion of our smart cloud services and blockchain applications.”
About Taoping Inc.
Taoping Inc. (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing “Smart IoT Screen Network- Taoping App – Taoping Go (e-Store)” media ecosystem to ultimately achieve the mission “our technology makes advertising and branding affordable and effective for everyone.” To learn more, please visit http://www.taop.com/.
Safe Harbor Statement
This press release may contain certain “forward-looking statements” relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as “believes”, “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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