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 Limited (NYSE: BTCM) announced it received a notice from the NYSE for non-compliance with the minimum share price requirement, as its ADSs closed below $1.00 over a 30-day trading period ending July 28, 2022. The Company has a Cure Period of six months to achieve compliance. If compliance is not reached by the end of this period, delisting procedures will begin. BIT Mining has confirmed its intent to address this deficiency and remains compliant with other NYSE standards, with no impact on its business operations or SEC reporting obligations.
BIT Mining Limited (NYSE: BTCM) announced the completion of the sale of 279,673,200 shares of Loto Interactive Limited for HK$0.28 per share, totaling HK$78,308,496. This sale reduced BIT Mining's stake in Loto Interactive to 8.79%. The transaction was initially disclosed on July 12, 2022. BIT Mining continues to operate as a significant player in the cryptocurrency mining sector, with services including mining pool operations and ownership of BTC.com. The company is also pursuing vertical integration through the acquisition of a 7-nanometer mining machine manufacturer.
BIT Mining Limited (NYSE: BTCM) announced the sale of approximately 51% of its shares in Loto Interactive Limited for HK$78,308,496, at HK$0.28 per share. This transaction will reduce BIT Mining's ownership in Loto Interactive to 8.79%. The company aims to focus on the North American market, reallocating resources towards technology and mining innovation. The transaction is subject to regulatory approval and aligns with BIT Mining's strategy to enhance operational efficiency as it expands within the cryptocurrency ecosystem.
BIT Mining Limited (NYSE: BTCM) has successfully completed a spin-off with Viking Data Centers, focusing on the Ohio cryptocurrency mining site. Following the spin-off, BIT Mining gains exclusive access to 82.5MW of power capacity, with 50MW already operational. The company expects to complete an additional 32.5MW by the second half of 2022. The spin-off aims to enhance operational efficiency and accelerate construction at the site. BIT Mining continues to leverage its extensive experience in cryptocurrency mining and renewable resources for growth.
BIT Mining Limited (NYSE: BTCM) has successfully closed a registered direct offering, raising approximately US$16 million from institutional investors. The offering included the sale of 16,000,000 American Depositary Shares (ADSs) at US$1.00 per ADS, along with Series A and B Warrants. Proceeds will be directed towards investing in mining machines, building new data centers, and enhancing working capital. H.C. Wainwright & Co., LLC acted as the exclusive placement agent. This strategic move aims to bolster BIT Mining's infrastructure and market position in the cryptocurrency sector.
BIT Mining Limited (NYSE: BTCM) announced a registered direct offering for the sale of 16,000,000 American Depositary Shares (ADSs) at a price of US$1.00 each, which is expected to generate approximately US$16 million in gross proceeds. The offering includes Series A and B Warrants for additional ADSs, aimed to enhance the Company's capacity for cryptocurrency mining. Proceeds will be used for mining machines, data center expansion, and improving working capital. The offering is set to close on June 27, 2022, pending customary conditions.
BIT Mining Limited (NYSE: BTCM) announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2021, with the SEC on April 7, 2022. The report, containing audited financial statements, is accessible on the SEC's website and the company's investor relations site. BIT Mining, a leader in cryptocurrency mining, operates mining pools and data centers, and owns top blockchain browser BTC.com. The company also holds a 7-nanometer mining machine manufacturer, Bee Computing, enhancing its competitive edge through vertical integration.
BIT Mining Limited (NYSE: BTCM) has completed the first closing of its share exchange agreement with Bee Computing, issuing 16,038,930 Class A ordinary shares to the Selling Shareholders. The agreement, amended in April 2022, allows for the issuance of up to 18,330,210 additional shares based on performance milestones in developing new Bitcoin, Ethereum, and LTC mining machines utilizing advanced 7-nanometer ASIC technology. This acquisition aims to enhance BIT Mining's product offerings and strengthen its competitive position in the cryptocurrency market.
BIT Mining Limited (NYSE: BTCM) reported first quarter 2022 revenues of US$296.7 million, down 40.4% from the previous quarter but up 11,292% year-over-year. The company produced 5,420 Ethereum and 166 Bitcoins, generating US$16.0 million and US$6.9 million respectively. Despite a US$3.1 million net loss, improvements were noted in non-GAAP metrics, with a net income of US$1.2 million. Operating costs increased sharply year-over-year due to mining pool expenses. The firm continues to expand its North American operations, particularly in Ohio.
BIT Mining Limited (NYSE: BTCM) has announced it will release its unaudited financial results for Q1 2022 on May 27, 2022, before U.S. market opening. The company, focused on cryptocurrency mining, operates BTC.com for multi-currency services, including BTC, ETH, and LTC. Recently, BIT Mining acquired Bee Computing, a 7-nanometer mining machine manufacturer, enhancing its vertical integration and competitive market position.
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