GlobeNewswire Inc | Jan 5, 2022 08:30AM EST

January 05, 2022

-- Total hash rate will be increased by 100% to 700GH/s -- Approximately 350 Ether can be generated per Month by then

HONGKONG, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the Company or TAOP), a provider of blockchain technology and smart cloud services, announced today that it has begun an expansion project of Taoping G Cloud Hong Kong Data Center (the Center). The expansion is expected to be completed by the end of January 2022.

High-capacity fiber connectivity and world-class infrastructure make Hong Kong a desirable data center location for TAOP. Following the launch of the Center in May 2021, the expansion plan shows the Companys confidence in developing digital currency business in Hong Kong.

The site for this expansion is located in Tsuen Wan, Hong Kong. The Company plans to deploy additional general-purpose servers suitable for Ethereum in the Center. Once complete, the computing capacity of the expanded Center can be doubled, with an estimated total hash rate of 700GH/s and expected to generate about 350 Ether per month by the first quarter of 2022.

We have made good progress on digital currency business since the launch of Taoping G Cloud Hong Kong Data Center, said Mr. Jianghuai Lin, Chairman and CEO of TAOP. The expansion of the data center is expected to meet the Companys growing demand for cloud computing resources and support growth for related business.

About Taoping Inc.

Taoping Inc. (TAOP) is a blockchain technology and smart cloud services provider. The Company is dedicated to the research and application of blockchain technology and digital assets, and continues to improve computing power and create value for the encrypted digital currency industry. Relying on its self-developed smart cloud platform, TAOP also provides solutions and cloud services to industries such as new media and artificial intelligence. To learn more, please visit http://www.taop.com/.

Safe Harbor Statement

This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including anticipates, believes, can, continue, could, estimates, expects, intends, may, plans, potential, predicts, should, or will or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.

Any forward-looking statements contained in this press release are only estimates or predictions of future events based on information currently available to our management and managements current beliefs about the potential outcome of future events. Whether these future events will occur as management anticipates, whether we will achieve our business objectives, and whether our revenues, operating results, or financial condition will improve in future periods are subject to numerous risks. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our potential inability to achieve or sustain profitability or reasonably predict our future results due to our limited operating history of providing blockchain technology and smart cloud services, the effects of the global Covid-19 pandemic, the emergence of additional competing technologies, changes in domestic and foreign laws, regulations and taxes, uncertainties related to Chinas legal system and economic, political and social events in China, the volatility of the securities markets; and other risks including, but not limited to, those that we discussed or referred to in the Companys disclosure documents filed with the U.S. Securities and Exchange Commission (the SEC) available on the SECs website at www.sec.gov, including the Companys most recent Annual Report on Form 20-F as well as in our other reports filed or furnished from time to time with the SEC. You should read these factors and the other cautionary statements made in this press release. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and TAOP undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

For further information, please contact:

Taoping Inc.Chang QiuEmail:chang_qiu@taoping.cn http://www.taop.com/or

Dragon Gate Investment Partners LLCTel: +1(646)-801-2803Email:taop@dgipl.com