BIT Mining Limited Announces Trading of ADSs under New English Name and New Ticker Symbol

Rhea-AI Summary

BIT Mining Limited (NYSE: BTCM) announced that its American Depositary Shares (ADSs) began trading under the new name and ticker symbol, effective April 20, 2021. The Company, a leader in cryptocurrency mining, previously operated as 500.com Limited (NYSE: WBAI). Since entering the cryptocurrency market in December 2020, BIT Mining has achieved significant milestones, including acquiring bitcoin mining machines with a hash rate of approximately 1,031.5 PH/s and hydroelectric mines with a capacity of 435 MW. Additionally, it acquired the mining pool business of Bitdeer Technologies.

Positive

• Achieved a hash rate capacity of approximately 1,031.5 PH/s through bitcoin mining machine deployments.
• Acquired three hydroelectric cryptocurrency mines with a combined electric power capacity of 435 MW.
• Successfully acquired the mining pool business of Bitdeer Technologies, enhancing operational capabilities.

Negative

• None.

SHENZHEN, China, April 20, 2021 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining Limited" or the "Company"), a leading cryptocurrency mining enterprise, formerly known as 500.com Limited (NYSE: WBAI), today announced that its American Depositary Shares ("ADSs"), each representing the right to receive ten (10) Class A ordinary shares with par value of US$0.00005 per share of the Company, began trading under the Company's new English name, "BIT Mining Limited", and its new ticker symbol, "BTCM", effective at the opening of trading on the NYSE on Tuesday, April 20, 2021 (U.S. Eastern Daylight Time).

Historical trading data of the Company's ADSs prior to April 20, 2021 may not yet be available on certain third-party websites and apps when searching for "BIT Mining Limited" and/or "BTCM", in which case such data may temporarily be found under "500.com Limited" and/or "WBAI".

About BIT Mining Limited

BIT Mining Limited (NYSE: BTCM) is a leading cryptocurrency mining enterprise, with a long-term strategy to create value across the cryptocurrency industry. Since announcing its entry into the industry in December 2020, the Company has: (i) purchased and deployed bitcoin mining machines with a theoretical hash rate capacity of approximately 1,031.5 PH/s; (ii) acquired three hydroelectric cryptocurrency mines with combined electric power capacity of 435MW, by purchasing a controlling stake in Loto Interactive Limited (HKEX:08198); and (iii) acquired the entire mining pool business of Bitdeer Technologies Holding Company operated under BTC.com, including the domain name and the cryptocurrency wallet of BTC.com. The Company has also entered into a definitive agreement with Bee Computing (HK) Limited, a 7-nanometer cryptocurrency mining machine manufacturer, in order to help sustain the Company's continued growth.

Safe Harbor Statements

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

For further information:

BIT Mining Limited
ir@500wan.com
Ms. Danni Zheng
Phone: +86 755 8633 8005

The Piacente Group, Inc.
Helen Wu
Tel: +86 (10) 6508-0677
Email: 500@tpg-ir.com

In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1 (212) 481-2050
Email: 500@tpg-ir.com

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SOURCE BIT Mining Limited

FAQ

What is BIT Mining Limited's new ticker symbol?

BIT Mining Limited's new ticker symbol is BTCM, effective April 20, 2021.

When did BIT Mining Limited begin trading under its new name?

BIT Mining Limited began trading under its new name on April 20, 2021.

What major acquisitions has BIT Mining Limited made since December 2020?

BIT Mining Limited has acquired bitcoin mining machines with a hash rate of 1,031.5 PH/s and hydroelectric mines with a capacity of 435 MW.

What company did BIT Mining Limited acquire the mining pool business from?

BIT Mining Limited acquired the mining pool business from Bitdeer Technologies.