BIT Mining Limited Completes Sale of its Mining Pool Business
BIT Mining Limited ADS (BTCM)
Company Research
Source: PR Newswire
AKRON, Ohio, March 4, 2024 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining," "the Company," "we," "us," or "our company"), a leading technology-driven cryptocurrency mining company, today announced the closing and completion of its previously announced sale of its entire mining pool business operated under BTC.com (the "Business") to Esport – Win Limited, a Hong Kong limited liability company, for a total consideration of US$5 million (the "Consideration"). The Business has been transferred to Esport – Win Limited. While the closing of the transaction occurred on February 29, 2024, for accounting purposes the Business was deemed to be disposed of on January 31, 2024 when the Company relinquished control and received the first payment of the Consideration by retaining 71.37 bitcoins of the Business for compliance and safety purposes when transferring the Business to Esport – Win Limited. The retained bitcoins have a fair value of US$3 million as determined using US$42,034.
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BTCM
News
- BIT Mining Limited Announces Unaudited Financial Results for the Fourth Quarter and Full Year ended December 31, 2023 [Yahoo! Finance]Yahoo! Finance
- BIT Mining Limited Announces Unaudited Financial Results for the Fourth Quarter and Full Year ended December 31, 2023PR Newswire
- BIT Mining Limited to Report Fourth Quarter and Full Year 2023 Financial Results on February 23, 2024PR Newswire
BTCM
Earnings
- 2/23/24 - Miss
BTCM
Sec Filings
- 4/30/24 - Form 6-K
- 4/30/24 - Form NT
- 3/4/24 - Form 6-K
- BTCM's page on the SEC website