Taoping Inc Stock Price, News & Analysis

Taoping Inc. (NASDAQ: TAOP) has established Taoping Capital Limited, a wholly-owned subsidiary in Hong Kong, to enhance its blockchain and digital asset initiatives alongside its cloud-based services. This subsidiary will focus on investing in blockchain technologies, including acquiring bitcoin mining equipment and general-purpose servers for Ethereum. Mr. Jianghuai Lin will lead Taoping Capital, supported by the experienced Mr. Huaqiao Zhang as Chief Advisor. The strategic move aims to bolster TAOP’s growth and operational capabilities in an evolving digital landscape.

Taoping Inc. (NASDAQ: TAOP) launched the "Taoping G Cloud Data Center" in Dong-guan City, China, with plans to deploy 3,000 servers by 2021. The center aims for a total hashrate of 1,450,000 MH/s, enhancing the company's capabilities in blockchain and GPU cloud computing. The data center supports demand growth driven by technological advancements and COVID-19. Recent forecasts predict a 31% CAGR for the GPU market, increasing from $20.6 billion in 2019 to $104.7 billion by 2025, boosting Taoping's digital transformation efforts.

Taoping Inc. (NASDAQ: TAOP) has signed a Bitcoin mining machine purchase agreement with Bitmain Technologies Limited, valued at approximately $24 million. This agreement includes the acquisition of Antminer S19j Pro machines, with a total expected hash rate of 300,000 TH/s. The purchase will be funded by a line of credit secured by the personal real estate of Chairman and CEO Mr. Jianghuai Lin. The miners, delivering from August 2021, are expected to enhance the company’s blockchain operations.

Taoping Inc. (NASDAQ: TAOP) announced a strategic alliance with Chain Cloud Technology to launch a GPU cloud computing power trading platform, Taoping G Cloud. This collaboration will see TAOP invest in 10,000 GPU servers to enhance cloud services like desktop computing, gaming, and AI applications. The platform aims to provide efficient computing power and support digital education initiatives, initially benefiting over 10,000 students at Guanghua Schools. This partnership is seen as a critical step in TAOP's growth strategy within the digital culture and blockchain sectors.

Taoping Inc. (NASDAQ: TAOP) has entered into a share purchase agreement to acquire a 51% stake in Render Lake Tech Ltd., a cloud infrastructure service provider based in Canada. This acquisition, valued at approximately $1.53 million, will be completed in four phases involving the issuance of 144,204 ordinary shares of TAOP. The deal aims to expand Taoping's capabilities in cloud computing, NFT, and online gaming, with Mr. Qian Wang appointed as CIO and director of the NFT Business Division. The closing is targeted for April 30, 2021, pending customary conditions.

Taoping Inc. (NASDAQ: TAOP) has announced a strategic cooperation framework agreement with Shanghai Guanghua Education and Wuhu Sasan Education. This three-year partnership aims to establish a joint venture in Wuhu, China, where TAOP will hold 51% equity. The joint venture will focus on digitalizing educational resources and providing online education through TAOP's smart cloud platform. Additionally, they plan to collaborate on study abroad programs and explore cloud computing opportunities. This initiative is expected to enhance the quality and accessibility of education in over 200 Chinese cities.

Taoping Inc. (NASDAQ: TAOP) has entered into a strategic cooperation agreement with BitFuFu.com to enhance their blockchain cloud computing initiatives. The agreement includes a $10 million purchase of blockchain cloud computing services over three years, starting with a $1 million subscription for the first year. This partnership aims to facilitate Bitcoin mining using Antminer, a leading mining brand. The CEO stated this marks the launch of TAOP's blockchain and digital asset business, focusing on joint development in blockchain technology.

Taoping Inc. (NASDAQ: TAOP) has announced a share purchase agreement to acquire 100% equity interest in Taoping New Media Co., Ltd. This strategic acquisition positions TAOP to enter China's $25.5 billion out-of-home advertising market, enhancing its revenue streams from the existing digital advertising network. The deal involves issuing 1,213,630 ordinary shares to Taoping New Media's shareholders, valued at $10.24 million. The transaction is set to close by May 10, 2021, subject to certain conditions, including internal approvals and no adverse impacts before closing.

Taoping Inc. (NASDAQ: TAOP) has announced the creation of a new Digital Culture Business Division aimed at expanding its presence in the new media and education sectors. The division will integrate AI and big data technology to develop a platform that connects online and offline channels. Zhixiong Huang has been appointed as director, alongside Huan Li, who brings over 15 years of media experience. This initiative is part of Taoping's strategy to capitalize on growth opportunities in the digital culture industry.