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

Rhea-AI Summary

BIT Mining Limited (NYSE: BTCM), a cryptocurrency mining enterprise, announced that its American Depositary Shares began trading under its new name and ticker symbol BTCM as of April 20, 2021. The company has made significant strides since entering the industry in December 2020, including deploying bitcoin mining machines with a capacity of approximately 1,031.5 PH/s, acquiring three hydroelectric mines with an electric power capacity of 435MW, and acquiring the mining pool business of Bitdeer Technologies. The company aims to foster growth within the cryptocurrency sector.

Positive

• Deployed bitcoin mining machines with a theoretical hash rate of 1,031.5 PH/s.
• Acquired three hydroelectric mines with a combined power capacity of 435MW.
• Acquired the mining pool business of Bitdeer Technologies.

Negative

• None.

SHENZHEN, China, April 20, 2021 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining Limited" or the "Company"), a leading cryptocurrency mining enterprise, 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).

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. BIT Mining Limited (NYSE: BTCM) was formerly known as 500.com Limited (NYSE: WBAI), an online sports lottery service provider in China.

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 500.com Limited

FAQ

What is the new ticker symbol for BIT Mining Limited?

The new ticker symbol for BIT Mining Limited is BTCM.

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

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

What are the key metrics of BIT Mining Limited's operations?

BIT Mining Limited has a hash rate capacity of approximately 1,031.5 PH/s and has acquired hydroelectric mines with a total power capacity of 435MW.

What recent acquisitions did BIT Mining Limited make?

BIT Mining Limited acquired the mining pool business of Bitdeer Technologies and three hydroelectric cryptocurrency mines.