TAOP Forges MoU With Dennver Group To Purchase Ethereum Mining Machines

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.