Powerbridge Technologies Buys 5,600 Cryptocurrency-Mining Machines

By Chris Wack

Powerbridge Technologies Co. Ltd. said it has entered an agreement with Cryptodigital Holdings Ltd. to purchase cryptocurrency-mining machines.

According to the agreement, the blockchain applications provider will buy a total of 5,600 bitcoin and ethereum mining machines, which are scheduled to be delivered starting in October.

Powerbridge Technologies said the machines include 2,000 bitcoin miners and 3,600 ethereum miners.

The 2,000 bitcoin miners are composed of Antminer S19 Pro, Antminer S19 and other models with high hash rate and high energy efficiency. The 3,600 ethereum miners are composed of high performance RTX 3070, RTX 3060 Ti and other models, the company said.

“Once these miners are deployed, we should start to see a sharp increase in our bitcoin and ethereum production capacity,” said Stewart Lor, president and finance chief of Powerbridge Technologies. “We expect to continue to invest and acquire crypto mining machines to enhance our overall computing power for bitcoin and ethereum.”

Powerbridge Technologies shares were up 11% to $1.54 in premarket trading.

Write to Chris Wack at chris.wack@wsj.com

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