Welcome to our dedicated page for Sos news (Ticker: SOS), a resource for investors and traders seeking the latest updates and insights on Sos stock.
SOS Limited (SOS) generates news across several intersecting themes: commodity trading performance, cryptocurrency operations, digital infrastructure projects, capital markets activity and blockchain-based services. Company announcements describe a business that combines commodity trading in products such as mineral resin, soy bean, wheat, sesame, liquid sulfur, petrol coke, latex, rubber, coal, mung bean and asphalt with cryptocurrency mining, hosting services and blockchain-driven marketing and emergency-rescue solutions.
Recent news releases highlight SOS’s strategic pivot toward digital infrastructure, including the development of a Tier III modular data center at Longfellow Ranch in Fort Stockton, Texas. The company frames this project as part of a transition from traditional cryptocurrency mining to a broader role as a digital-infrastructure provider, with modular, prefabricated data-center capacity aimed at AI, cloud and enterprise hosting demand.
Financial results are another key news category. Semi-annual and annual updates detail the revenue mix across commodity trading, hosting services, cryptocurrency mining and other segments, emphasizing the growing contribution of commodity trading and the evolving role of mining and hosting. These releases often discuss operating costs, gross margins and cash-flow dynamics, including prepayments related to a proprietary blockchain commodity trading platform.
SOS news also covers capital-raising transactions and share-structure changes, such as registered direct offerings of American Depositary Shares, concurrent private placements of warrants, ADS ratio changes, and the termination of the deposit agreement that governs its ADS program. In addition, the company reports on strategic initiatives like its Bitcoin investment plan and a framework agreement with Lepu Sodium Power to optimize electricity use for computing and data centers.
Investors and observers can use the SOS news feed to follow developments in its commodity trading operations, cryptocurrency mining and hosting strategy, digital-infrastructure build-out, blockchain-based marketing services and corporate actions affecting its securities.
SOS Limited (SOS) reported a net revenue of $132.7 million for the six months ended June 30, 2022, a decline of 28.1% year-over-year, mainly due to COVID-19 lockdowns in China impacting business activities. Despite this revenue drop, the company increased its cash balance to $247.4 million from $185.5 million. The gross profit decreased to $12.4 million, maintaining a steady gross profit ratio of 9.3%. Although the operating loss shrank to $14.3 million from $20.4 million, the company faces challenges in expanding its cryptocurrency mining operations in the U.S.
SOS Limited (NYSE: SOS) has announced it has regained compliance with the NYSE's minimum share price requirement after being notified on July 14, 2022. The company previously received a non-compliance letter due to its average closing price being below $1.00. To rectify this, SOS adjusted the ratio of its American Depositary Shares (ADSs) from one ADS for ten Class A ordinary shares to one ADS for 500 shares, effective July 6, 2022. The average closing price for the 30 days leading up to July 14 was confirmed to be above the compliance threshold.
SOS Limited (NYSE: SOS) announced the launch of the second batch of mobile smart containers, completing phase I of its Super-Computing and Hosting Center in Wisconsin. A total of 16 mobile containers will be operational in phase II, with 4 expected to be online in July 2022. The company hosted a well-attended open house event on June 27, showcasing its capabilities. CEO Yandai Wang expressed optimism about the opportunities presented by the mobile smart containers. The firm leverages AI and blockchain technologies to provide digital solutions across various sectors.
SOS Limited (NYSE: SOS) announced a change in the ratio of its American depositary shares (ADSs) from one ADS representing ten Class A ordinary shares to one ADS representing five hundred Class A ordinary shares, effective July 6, 2022.
This change will not impact the Class A ordinary shares directly. Holders of ADS will need to surrender their shares for cancellation and exchange. Fractional ADSs will not be issued; instead, they will be aggregated and sold, with proceeds distributed to shareholders. While the ADS price is expected to rise proportionally, no guarantee of price equality post-ratio change is provided.
SOS Limited (NYSE: SOS) announced the launch of its Hosting Business at its Super-Computer & Hosting Center in Wisconsin on May 10, 2022. The company has signed agreements for over 21,000 mining rigs and has deployed 680 client-hosted servers. CEO Yandai Wang emphasized the importance of this launch for expanding North American operations and increasing local job opportunities. SOS has initiated the deployment of 700 mining rigs and aims to secure more power supply for further expansion. An Open House Day is scheduled for June 27, 2022, to showcase the new facility.
SOS Limited (SOS) reported a remarkable 612% revenue increase to $357.8 million for the fiscal year ending December 31, 2021. Gross profit rose 62.1% to $21.1 million. The substantial growth was attributed to the expansion into crypto-mining and commodity trading, with commodity trading revenue at $275.4 million, accounting for 77% of total sales. However, the GAAP net loss reached $43.9 million, amid rising operating costs of $336.8 million and a declining gross margin.
The company has shifted its mining operations from China to the U.S., launching a facility in Wisconsin.
SOS Limited (NYSE: SOS) has launched its Super-Computing and Hosting Center in Wisconsin, marking a significant development for the company. The facility, managed through a joint venture, currently has a power supply of 25 MW, aiming to increase it to 37 MW. Phase I includes a 5 MW capacity, hosting 4 mobile smart containers, and is expected to expand to accommodate 10,000 servers. Phase II plans to introduce a cryptocurrency mining center with an additional 12 MW. CEO Yandai Wang emphasizes this launch as a strategic transformation aimed at sustainable growth and shareholder value.
SOS Limited (NYSE: SOS) announced a registered direct offering of approximately $20 million worth of American Depositary Shares (ADS) at a price of $0.56 per ADS, which represents a total of 35,750,000 ADSs. The offering is expected to close around April 4, 2022. Funds will be used to enhance business operations in North America and for general corporate purposes. The exercise price of previously issued purchase warrants will also be reduced to $0.56 per share, effective at closing.
SOS Limited (NYSE: SOS) received a letter from the NYSE on January 14, 2022, indicating non-compliance due to its American depositary shares (ADSs) trading below $1.00 for 30 consecutive trading days. The company has six months to regain compliance by achieving a closing price of at least $1.00. The notice does not immediately impact the trading of SOS's ADSs, which will continue to be listed on the NYSE during the cure period. SOS offers blockchain-based marketing solutions and operates in various sectors including emergency services.
SOS Limited has announced a registered direct offering of approximately $90.1 million, selling 51.5 million American Depositary Shares (ADS) at $1.75 per share. Closing is anticipated around November 12, 2021. The funds will be utilized for business expansion in North America and general corporate purposes. Additionally, the company will reduce the exercise price of certain purchase warrants to $1.75. Maxim Group LLC serves as the sole placement agent for this offering.