Welcome to our dedicated page for Bit Mining news (Ticker: BTCM), a resource for investors and traders seeking the latest updates and insights on Bit Mining stock.
BIT Mining Limited (BTCM) provides a vertically integrated cryptocurrency mining platform combining self-operated data centers, mining pool management, and advanced hardware production. This page serves as the definitive source for official updates and analysis on the company's strategic developments within the blockchain ecosystem.
Investors and industry observers will find comprehensive coverage of operational expansions, technology innovations, and regulatory compliance updates. Key focus areas include hydroelectric-powered mining facilities, efficiency improvements in 7-nanometer chip-based mining rigs, and developments within the BTC.com mining pool network.
All content undergoes rigorous verification to ensure accurate reporting on financial disclosures, partnership announcements, and sustainability initiatives. The curated news selection enables stakeholders to track BIT Mining's progress in optimizing energy efficiency while maintaining competitive hash rates.
Bookmark this page for real-time updates on BIT Mining's efforts to strengthen its position as a leader in sustainable cryptocurrency infrastructure. Regularly refreshed content ensures informed decision-making for those monitoring the evolving crypto-mining sector.
BIT Mining (NYSE: BTCM), a leading technology-driven cryptocurrency mining company, has announced plans to release its unaudited financial results for the fourth quarter and full year ended December 31, 2024. The financial report will be released after the U.S. market close on Friday, February 28, 2025.
The company, based in Akron, Ohio, made this announcement on February 25, 2025. The upcoming financial disclosure will provide insights into BIT Mining's performance throughout the final quarter and complete fiscal year of 2024.
BIT Mining (NYSE: BTCM) held its annual general meeting (AGM) on January 7, 2025, where shareholders approved a significant increase in the company's authorized share capital to US$440,000. The new capital structure includes:
- 8,399,935,000 Class A Ordinary Shares (par value US$0.00005 each)
- 65,000 Class A Preference Shares (par value US$0.00005 each)
- 400,000,000 Class B Ordinary Shares (par value US$0.00005 each)
This restructuring involves the creation of 6,800,000,000 new Class A Ordinary Shares at a par value of US$0.00005 each.
BIT Mining (NYSE: BTCM) has successfully regained compliance with the NYSE's quantitative continued listing standards, as confirmed by a letter dated December 17, 2024. The company had previously fallen below the NYSE's minimum requirements on June 9, 2023, when both its average total market capitalization over 30 trading days and shareholders' equity were under $50 million.
Following this achievement, the below compliance ('.BC') indicator will be removed starting December 18, 2024, and the company will no longer be listed as below continued listing standards on NYSE's website. BIT Mining will undergo a 12-month follow-up review period to ensure maintained compliance with NYSE standards.
BIT Mining (NYSE: BTCM) has announced its upcoming annual general meeting scheduled for January 7, 2025, at 10:00 a.m. New York time. The meeting will be held at 428 South Seiberling Street, Akron, Ohio. Shareholders of record as of December 20, 2024 will be eligible to attend and vote. ADS holders must exercise their voting rights through Deutsche Bank Trust Company Americas. The company's annual report for FY2023 was filed with the SEC on May 15, 2024, and is available on both the company's investor relations website and the SEC's website.
BIT Mining (NYSE: BTCM) has completed the first phase of its acquisition in Ethiopia, which includes a 35-megawatt operational crypto mining data center and 17,869 BTC mining machines. The company paid US$2.265 million in cash and issued 369,031,800 Class A ordinary shares to the sellers.
The second phase of the acquisition is expected to complete in March or April 2025, involving the transfer of remaining data centers. Upon closing, BIT Mining will issue an additional 45,278,600 Class A ordinary shares as consideration.
BIT Mining (NYSE: BTCM) has announced its strategic focus on mining Litecoin (LTC) and Dogecoin (DOGE) alongside Bitcoin, reporting nearly triple the profitability compared to Bitcoin mining alone. The company currently operates over 5,552 mining machines with a combined hash rate of 18.94 TH/s, representing 1.32% of the global network hash rate for LTC/DOGE/BEL mining.
Since starting its LTC and DOGE mining operations, the company has mined 84,485.42 LTC and 227,908,250.38 DOGE. BIT Mining's success is attributed to its self-produced LD3 miners, developed following the 2021 acquisition of Bee Computing. The company has also recently expanded operations into Ethiopia.
BIT Mining (NYSE: BTCM) has announced a US$14.28 million acquisition of 51-megawatt crypto mining data centers in Ethiopia and 17,869 Bitcoin mining machines. The deal includes a US$2.265 million cash payment and company shares worth US$12.015 million.
The acquisition will be completed in two phases: first, a 35-megawatt operational data center and all mining machines will be transferred, followed by the remaining data centers upon construction completion. This strategic move follows BIT Mining's divestiture of its mining pool business, focusing on mining machine innovation, self-operated mining, and data center operations.
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