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 Ltd (BTCM) became SOLAI Limited after a shareholder-approved name change and ticker change to SLAI. Company news around the issuer covers its shift from cryptocurrency mining toward blockchain and AI infrastructure, including Solana treasury and staking operations, stablecoin and payment infrastructure, and digital-asset ecosystem initiatives.
Updates also address operating and financial results, cryptocurrency mining and data center activities, ADS shareholder voting matters, governance actions, and participation in real-world-asset tokenization efforts tied to green energy assets.
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BIT Mining Limited (NYSE: BTCM) announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2022, with the SEC on April 17, 2023. The report is available on the SEC website and the Company’s investor relations site. Shareholders can request a hard copy of the audited financial statements free of charge. BIT Mining is a leading cryptocurrency mining company engaged in mining, a mining pool, data center operations, and manufacturing mining machines. The Company operates BTC.com, a premier blockchain browser and mining pool, and owns a 7-nanometer mining machine manufacturer, Bee Computing, optimizing its supply chain efficiency.
BIT Mining Limited (NYSE: BTCM) announced the resignation of Ms. Angel Yan Ki Wong from its Board of Directors, effective April 17, 2023, due to personal reasons, without any disagreement with the Board. Concurrently, Dr. Heng Henry Lu has been appointed as an independent director and Chairman of the Audit Committee. Dr. Lu brings extensive experience from his roles at Nimbus 2020 LLC and China Merchants Capital, among others, and is considered an 'audit committee financial expert.' The Board believes his expertise will significantly enhance BIT Mining's focus on the U.S. market and drive long-term growth.
BIT Mining Limited (NYSE: BTCM) announced on April 10, 2023, that its Audit Committee identified an immaterial error in the accounting policy for cryptocurrency assets, which failed to comply with FASB ASC 350 standards. The mistake was due to the improper impairment calculation method previously utilized. The Company plans to correct this in its forthcoming Annual Report on Form 20-F for the year ended December 31, 2022. The Audit Committee concluded that the error was not material to previously issued financial statements, specifically for the year ended December 31, 2021. The Company will provide revised accounting policies and the impact of the error in its upcoming report.
BIT Mining Limited (NYSE: BTCM) has entered into a share sale agreement to sell its remaining 48,195,605 shares (8.79% ownership) in Crypto Flow Technology Limited for HK$0.38 per share, totaling HK$18,314,330. This follows a previous sale where it reduced its stake in Crypto Flow by 51%. The transaction is subject to regulatory conditions and, upon completion, BIT Mining will hold no shares in Crypto Flow. CEO Xianfeng Yang emphasized a focus on mining operations for improved cost control and operational efficiency.
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