secwatch.observer — SEC 8-K summary
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Issuer:     Future FinTech Group Inc. (FTFT)
CIK:        0001066923
Form:       8-K
Filed at:   2021-12-17T23:59:59+00:00
Accession:  0001213900-21-065845
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Future FinTech enters $62M Ohio crypto mining farm JV; APC gets option to buy 30%
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- Agreement with APC Service Ltd. for a 300MW cryptocurrency mining farm in Ohio; total estimated investment of $62 million across six 50MW phases.
- Phase I investment of $12M ($2M land, $10M development); APC can purchase up to 30% of FTFT Super-computing within 365 days of Phase I completion at 33% of actual expenses.
- APC must secure power supply at ≤$0.04/kWh, obtain permits within 30 days, and complete Phase I construction by June 30, 2022 or face penalties.
- If APC meets net profit target of $6M per 50MW annually, the operating team receives 20% of net profit as cash reward; excess over $7M triggers stock rewards.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1066923/000121390021065845/0001213900-21-065845-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1066923/000121390021065845/ea152456-8k_futurefin.htm
  HTML page:      https://secwatch.observer/filing/0001213900-21-065845

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