ChineseInvestors.com, Inc. (OTCQB: CIIX), the premier financial information website for Chinese-speaking investors, today announces that it is exploring investments into Cryptocurrency Mining with its recent purchase of ASIC (Application Specific Integrated Circuit) machines used to mine SHA-256 or Scrypt mining algorithms to earn cryptocurrencies such as Bitcoin and Litecoin.
The Company's initial trial included the purchase of 20 BitMain L3+ Antminers and 7 BitMain S9 AntMiners that were installed inside a top of the line and secured datacenter near Seattle. Based on initial reports, the Company anticipates that this will be a successful venture that will open the door for the Company to consider adding 500 or more ASIC units and to make an additional investment in graphical processing units ("GPUs") and other equipment suitable for blockchain mining that can achieve minimum hash rates consistent with the equipment specifications by the end of its fiscal year, May 31, 2018.
According to ChineseInvestors.com, Inc.'s CEO Warren Wang, "this initial step into cryptocurrency mining positions the Company to capitalize on a growing industry which could have tremendous upside potential. Moreover, the knowledge that CIIX is gaining and the professional contacts it is developing in the cryptocurrency space is synergistic with the educational content the Company provides subscribers on its crypto news platform, NewCoins168.com.
"The Company endeavors to be on the cutting edge of blockchain technology and to stay ahead of the curve in an effort to continue to build shareholder value and increase revenues this year."
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