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BTCM under $3
BTCM 10Q due AUGUST 21
BTCM new 52 lo
BTCM new 52 lo
BTCM new 52 week high
BTCM: Opening fire!!! Who-would-a-thunk-it??? (I'm checking its CHART now; see me below!!)
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SHENZHEN, China, April 15, 2021 /PRNewswire/ -- BIT Mining Limited (NYSE: WBAI) ("BIT Mining Limited" or the "Company"), a leading cryptocurrency mining enterprise, today announced the first closing of its previously announced transactions (the "Transactions") contemplated by the share exchange agreement, as amended (the "Share Exchange Agreement"), dated February 16, 2021, with Blockchain Alliance Technologies Holding Company ("Blockchain Alliance"), a Cayman Islands company and a "Non-U.S. Person" as defined in Regulation S of the Securities Act of 1933, as amended. Pursuant to the Share Exchange Agreement, the Company has issued an aggregate of 44,353,435 Class A ordinary shares of par value US$0.00005 per share of the Company (the "Class A Ordinary Shares") to Blockchain Alliance in exchange for the entire outstanding share capital of Blockchain Alliance Technologies Limited held by Blockchain Alliance. In accordance with the Share Exchange Agreement, the entire mining pool business of Bitdeer Technologies Holding Company ("BitDeer") operated under BTC.com, including the domain name BTC.com and the cryptocurrency wallet of BTC.com (collectively, the "BTC.com Pool Businesses") have now been transferred to the Company.
BTC.com was founded by Mr. Jihan Wu, upon completion of the first closing, Mr. Wu and the other shareholders of Blockchain Alliance will together hold 7.9 % of the Company's total outstanding share capital, as of April 14, 2021.
The Company today also announced that it and Blockchain Alliance agreed to amend the Share Exchange Agreement on April 15, 2021, pursuant to which amendment, among other things, the relevant period for recording net operating profit or net operating loss in respect of the BTC.com Pool Businesses, for the determination of whether the Company shall issue additional shares to, or be entitled to repurchase certain shares from, Blockchain Alliance as part of the Transactions, has been changed to the twelve-month period from April 1, 2021 to March 31, 2022.
About BIT Mining Limited
BIT Mining Limited (NYSE: WBAI) 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 a combined electric power capacity of 435MW, by purchasing a controlling stake in Loto Interactive Limited (HKEX:08198); (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 was formerly known as 500.com Limited, an online sports lottery service provider in China.
As of today, the Company's American Depositary Shares ("ADSs"), each representing the right to receive ten (10) Class A ordinary shares of the Company, are listed on the NYSE under the Company's old English name "500.com Limited" and its old ticker symbol "WBAI." The Company's ADSs are expected to begin trading under the Company's new English name "BIT Mining Limited," and its new ticker symbol "BTCM," effective at the opening of trading on Tuesday, April 20, 2021.
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