HONG KONG, July 28, 2021 / PRNewswire / – BIT Mining Limited (NYSE: BTCM) (“BIT Mining” or the “Company”), a leading cryptocurrency mining company, today announced a definitive sales agreement (the “Sales Agreement”) for 2,500 new Bitcoin -Mining machines (“the acquired machines”) for a total price of approx $ 6.6 million. Upon deployment, the company expects the purchased machines to increase their theoretical maximum total hash rate capacity by approximately 165 peta hashes per second (PH / s). The purchased machines are expected to be delivered within a week from today. After delivery, the company plans to post it Kazakhstan for use.
In addition to expanding its Bitcoin mining machine fleet, the company has continued to advance its development strategy abroad, which includes the latest highlights:
3,819 Bitcoin mining machines with a total hash rate capacity of 172 PH / s were installed in data centers in. used Kazakhstan;
Another 4,033 Bitcoin mining machines with a total hash rate capacity of 121 PH / s were attached to data centers in. delivered Kazakhstan and wait for use; and
The company began mining Ethereum outside of the mainland China with a provided hash rate capacity of 86.4 giga hashes per second (GH / s); an additional hash rate capacity of 4,713.6 GH / s is expected by the end. provided October 2021.
BIT Mining is monitoring current conditions in the cryptocurrency mining machine market and will consider cost effective mining machine purchases on an opportunistic basis. Looking ahead, the company stands ready to continue growing the scope of its business and increasing its theoretical maximum total hash rate capacity to strengthen its position as a leading cryptocurrency mining company.
About BIT mining
BIT Mining (NYSE: BTCM) is a leading cryptocurrency mining company with a long-term strategy of creating value across the cryptocurrency industry. The business includes the mining of cryptocurrencies, the mining pool and the operation of data centers. The company owns all of the mining pool business operated on BTC.com, including the domain name BTC.com. The company has also reached a definitive agreement to acquire a 7-nanometer cryptocurrency mining machine manufacturer, Bee Computing, to complete its vertical integration into its supply chain, increase its self-sufficiency and strengthen its competitive position.
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This press 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 US Private Securities Litigation Reform Act of 1995. These forward-looking statements can be based on terms such as “will”, “expect”, “anticipate”, “future”, “intend”, “plan”, “believe”, “estimate”, “aim”, “anticipate” , “Outlook” and similar statements. Such statements are based on management’s current expectations and current market and operating conditions and address 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 control of the company which could cause actual results, performance or achievements of the company to differ materially from the forward-looking statements. Important factors that could cause actual results from BIT Mining to differ materially from those expressed in the forward-looking statements include, but are not limited to: the completion of the private placement; the fulfillment of customary closing conditions in connection with the private placement and the intended use of the net proceeds from the private placement. For more information about these and other risks, uncertainties or factors, see the Company’s filings with the US Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statements as a result of new information, future events, or otherwise, except as required by law.
For more information:
BIT Mining Limited
ir.btc.com (The investor relations website has moved to http://ir.btc.com.)
MS. Danni Zheng
Phone: +86 755 8633 8005
The Piacente Group, Inc.
Tel: +86 (10) 6508-0677
In The United States:
The Piacente Group, Inc.
Tel: +1 (212) 481-2050
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SOURCE BIT Mining Limited