Code Chain New Continent Limited Announces 17 Bitcoins Mined in the First Month of Crypto-currency Mining Operation

NEW YORK, April 19, 2021 /PRNewswire/ -- Code Chain New Continent Limited (the "Company," or "Code Chain" or "We") (NASDAQ: CCNC), a leading eco-technology company, today announced its unaudited Bitcoin ("BTC") mining production data for the first month. Since March 19, 2021, the Company has produced 17 Bitcoins, accounting for approximately $0.97 million in revenue, based on an approximate current price of each BTC at U$56,825. 

David (Weidong) Feng, Co-CEO of the Company, commented, "We are excited to report the promising results for our first month of Bitcoin mining. These numbers indicate our efficiency and our team's burgeoning ability to scale as new miners. The additional 2,000 Antminer S19j miners are on schedule to be delivered by the end of October this year. The Company plans to release quarterly mining operation results to promote transparency as a way to keep our shareholders informed of Code Chain's growth potential. We look forward to exploring every opportunity to deploy our expanding mining fleet."

About Code Chain New Continent Limited

Code Chain New Continent Limited engages in the research, design and development of electronic tokens that combine the five-W elements (when, where, who, why, what), geographic location via the Beidou satellite system and identity information using Code Chain technology. The electronic tokens are unique, tradable, and inheritable digital assets and cannot be tampered. The electronic tokens are based on and stored in the Code Chain system and can be used to monitor and document all kinds of consumer behaviors that involve code-scanning. Recently, the company has also diversified its business into Bitcoin mining.

Safe Harbor Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and uncertainties. These forward-looking statements may include, but are not limited to, statements containing words such as "may," "could," "would," "plan," "anticipate," "believe," "estimate," "predict," "potential," "expects," "intends", "future" and "guidance" or similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to change at any time. These forward-looking statements are based upon management's current expectations and are subject to a number of risks, uncertainties and contingencies, many of which are beyond the Company's control that may cause actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. The Company's actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including those described under the heading "Risk Factors" in the Company's public filings with the Securities and Exchange Commission, including the Company's annual report on 10-K. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable law.

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SOURCE Code Chain New Continent Limited