Home Bitcoin News Bitcoin Mining 500.com Limited Completes Acquisition of Bitcoin Mining Machines with Total Hash Rate Capacity of Approximately 918.5 PH/s – PRNewswire

500.com Limited Completes Acquisition of Bitcoin Mining Machines with Total Hash Rate Capacity of Approximately 918.5 PH/s – PRNewswire

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SHENZHEN, China, March 15, 2021 /PRNewswire/ — 500.com Restricted (NYSE: WBAI) (“500.com” or the “Firm”), a cryptocurrency mining enterprise in China, right now introduced that it has accomplished its acquisition of bitcoin mining machines owned by sure non-U.S. individuals in change for an mixture of 11,882,860 newly-issued Class A atypical shares valued at US$1.21 per share, similar to US$12.10 per American Depositary Share (“ADS”) (based mostly on the ratio of ten atypical shares per ADS), the closing buying and selling value of the Firm’s ADSs on January 8, 2021. This transaction was beforehand introduced on January 11, 2021.

The bitcoin mining machines acquired on this transaction (the “Bitcoin Mining Machines”) embrace such fashions because the S17, T17, M20s and S9. The theoretical most whole hash price capability of the  Bitcoin Mining Machines is estimated to be roughly 918.5 PH/s. As soon as absolutely deployed, the Firm estimates that each one of its bitcoin mining machines, together with the Bitcoin Mining Machines, can have a complete hash price capability of as much as roughly 1000 PH/s in mixture.

About 500.com Restricted

500.com Restricted (NYSE: WBAI) is dedicated to changing into a number one cryptocurrency mining enterprise. Since asserting its entry into the cryptocurrency trade in December 2020, the Firm has entered into definitive agreements to (i) buy cryptocurrency mining machines, (ii) purchase a controlling stake in Loto Interactive Restricted (HKEX: 08198), and (iii) purchase the whole mining pool enterprise of Bitdeer Applied sciences Holding Firm (“BitDeer”) operated beneath BTC.com, together with the area title BTC.com and the cryptocurrency pockets of BTC.com (collectively, the “BTC.com Pool Companies”), to unfurl a complete strategy to cryptocurrency mining. 500.com Restricted additionally was the primary firm in China to supply on-line lottery gross sales agent providers, and was considered one of two enterprises permitted by China’s Ministry of Finance to interact within the on-line sports activities lottery gross sales agent enterprise on a trial foundation.

Secure Harbor Statements

This information launch incorporates forward-looking statements throughout the which means of Part 21E of the Securities Alternate Act of 1934, as amended, and as outlined within the U.S. Non-public Securities Litigation Reform Act of 1995. These forward-looking statements may be recognized by terminology resembling “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “goal,” “going ahead,” “outlook” and comparable statements. Such statements are based mostly upon administration’s present expectations and present market and working circumstances, and relate to occasions that contain recognized or unknown dangers, uncertainties and different components, all of that are troublesome to foretell and plenty of of that are past the Firm’s management, which can trigger the Firm’s precise outcomes, efficiency or achievements to vary materially from these within the forward-looking statements. Additional data relating to these and different dangers, uncertainties or components is included within the Firm’s filings with the U.S. Securities and Alternate Fee. The Firm doesn’t undertake any obligation to replace any forward-looking assertion on account of new data, future occasions or in any other case, besides as required beneath regulation.

For additional data:

500.com Restricted
[email protected]

Ms. Danni Zheng
Cellphone: +86 755 8633 8005

The Piacente Group, Inc.
Helen Wu
Tel: +86 (10) 6508-0677
Electronic mail: [email protected]

In the USA:

The Piacente Group, Inc.
Brandi Piacente
Tel: +1 (212) 481-2050
Electronic mail: [email protected]

SOURCE 500.com Restricted

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