SolarMax Technology (SMXT) has entered into a Memorandum of Understanding, MOU, with SOS Limited (SOS), whose business activities include cryptocurrency mining, to develop large-scale solar power and battery storage facilities in Nevada, Texas and Florida to provide power for SOS’ blockchain and cryptocurrency operations. The MOU contemplates the development of six separate facilities, each with a capacity of approximately 50 megawatts, for a combined total of approximately 300 megawatts. Under the proposed agreements, SolarMax would provide end-to-end engineering, procurement, and construction services for these installations, including obtaining necessary permits and facilitating utility connections. The MOU does not provide any terms for the agreements between SolarMax and SOS, all of which are subject to negotiation.
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