Welcome to our dedicated page for Taoping news (Ticker: TAOP), a resource for investors and traders seeking the latest updates and insights on Taoping stock.
Taoping Inc. (TAOP) delivers innovative cloud platform solutions for smart city infrastructure and AI-driven digital advertising. This news hub provides investors and industry observers with centralized access to official corporate communications and market developments.
Track all essential updates including earnings reports, strategic partnerships, product launches, and technology innovations. Our curated collection ensures timely access to financial disclosures, IoT platform advancements, and blockchain integration developments relevant to Taoping's operations in China's tech sector.
Key areas covered include smart city IoT deployments, cloud computing service expansions, and AI-powered advertising solutions. Users benefit from comprehensive monitoring of operational milestones across Taoping's core segments: Cloud-based Technology, Blockchain applications, and Traditional IT services.
Bookmark this page for efficient tracking of Taoping's progress in merging advanced technologies with urban management solutions. Check regularly for verified updates on the company's role in shaping intelligent city ecosystems and digital transformation initiatives.
Taoping Inc. (NASDAQ: TAOP) has established a majority-owned subsidiary, Taoping Digital Assets (Hong Kong) Limited, aimed at enhancing its global competitiveness and supply chain. The new subsidiary will manage the Hong Kong Data Center and support the company's five business divisions. Mr. Chi To Ip, an expert in IT and digital asset project management with over 20 years of experience, has been appointed as president. This strategic move is part of TAOP's broader global expansion plan, reinforcing its commitment to growth in the digital asset sector.
Taoping Inc. (NASDAQ: TAOP) announced key management changes, including the appointment of Ms. Liqiong (Iris) Yan as Chief Financial Officer. The company established two new business divisions: Digital Server Business Division and G Cloud Computing Power Business Division. Mr. Zhiqiang Zhao and Mr. Zhixiong Huang were appointed as directors for these divisions, respectively. The overall structure now includes five divisions. Taoping reaffirmed its 2021 financial guidance, projecting revenues between $40 million to $50 million and operating income of $8 million to $10 million.
Taoping Inc. (NASDAQ: TAOP) announced the launch of its "Taoping G Cloud Hong Kong Data Center" in Hong Kong. The facility will deploy 1,000 general-purpose servers optimized for Ethereum and cloud desktops, achieving a total hashrate of 480,000 MH/s. The first batch of 300 servers will be operational by the end of May 2021. Located in a key international hub, the center offers robust power and broadband connectivity. This initiative is a significant step in Taoping's strategy to expand its global GPU cloud computing capabilities.
Taoping Inc. (NASDAQ: TAOP) has entered a strategic cooperation agreement with ZNDS Global Technology PTE. LTD. for a 5-year term starting May 1, 2021, aiming to develop the GPU cloud computing market. TAOP plans to supply at least $10 million in computing power, with an initial purchase of a minimum of $1 million in GPU services by September 30, 2021. This partnership is expected to enhance TAOP's presence in the international market, focusing on high-performance computing applications such as cloud services and AI.
Taoping Inc. (NASDAQ: TAOP) reported a revenue decline to $11.0 million for the year ending December 31, 2020, down 20% from $13.8 million in 2019. The net loss attributable to the company reached $17.7 million, compared to $3.6 million in 2019. Despite a 96% revenue increase in H2 2020 from H1, the company faced challenges due to COVID-19. Looking forward, TAOP expects 2021 revenue between $40 million and $50 million and operating income of $8 million to $10 million.
Taoping Inc. (NASDAQ: TAOP) announced that its CEO, Mr. Jianghuai Lin, received the Innovative Entrepreneur Award on April 25, 2021, recognizing his contributions to the media and education sectors through TAOP's smart cloud services. The Company emphasizes digital transformation via artificial intelligence and big data, providing integrated solutions across various industries. Mr. Lin highlighted the award's potential to enhance brand recognition for TAOP both domestically and internationally.
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.
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