Singularity Future Technology Ltd. (the “Company”) (NASDAQ: SGLY) announced it is expanding into a new Internet Data Center (IDC) facility in Cedar Knolls, New Jersey. The Company will join other leading companies at the 300,000 square foot facility.
Chief Executive Officer, Mr. Yang “Leo” Jie, commented, “This is another important step in Singularity Future Technology’s ongoing strategy to accelerate our multi-year growth and profitability. We believe there is a highly attractive greenfield opportunity to leverage our technology expertise, customers and healthy financial position to become a dominant distributed storage service provider in North America. We plan to invest in this effort over the coming years as we layer on another growth vector of our growing cryptocurrency and blockchain-related businesses.”
The new location will serve as the anchor for Singularity Future Technology’s planned new distributed storage center business, with responsibility for the daily operation and maintenance of the data center, with secure remote data monitoring. New Jersey was selected after a thorough evaluation due to its business-friendly environment and climate, strong cultural atmosphere, and pool of highly qualified employees from both respected universities and leading scientific research institutions. New Jersey’s adjacency to New York, and the facility’s ability to accommodate commercial expansion all combined to make it an ideal location to serve as the foundation for building a large-scale data storage center.
The new IDC facility address is:
Singularity Future Technology Ltd.
9 Wing Drive
Cedar Knolls, NJ 07927
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