AKRON, Ohio, Oct. 14, 2021 /PRNewswire/ -- BIT Mining
Limited (NYSE: BTCM) ("BIT Mining" or the "Company"), a leading
technology-driven cryptocurrency mining company, today announced
that its mining pool subsidiary, BTC.com will exit the mainland
China market. To comply with local
regulations, BTC.com will cease registering new users from mainland
China and expects to start
retiring the accounts of existing users in mainland China in an orderly manner starting on
October 15, 2021.
BTC.com's discontinuation of service to users in mainland
China may adversely impact the
consolidated financial statements of the Company. However, the
Company believes that its growth in global markets will help offset
the loss of business in mainland China. Going forward, the Company plans to
intensify its business expansion efforts and accelerate its global
development.
About BIT Mining
BIT Mining (NYSE: BTCM) is a leading technology-driven
cryptocurrency mining company, with a long-term strategy to create
value across the cryptocurrency industry. Its business covers
cryptocurrency mining, mining pool, and data center operation. The
Company owns the blockchain browser BTC.com and the comprehensive
mining pool business operated under BTC.com, providing
multi-currency mining services including BTC, BCH, ETH and LTC. The
Company has also entered into a definitive agreement to acquire a
7-nanometer cryptocurrency mining machine manufacturer, Bee
Computing, to complete the Company's vertical integration with its
supply chain, increase its self-sufficiency and strengthen its
competitive position.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"going forward," "outlook" and similar statements. Such statements
are based upon management's current expectations and current market
and operating conditions and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control, which may cause the Company's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Important factors that could cause BIT
Mining's actual results to differ materially from those indicated
in the forward-looking statements include, among others: the
development and operation of BTC.com, and the execution and
anticipated benefits of BIT Mining's growth strategy. Further
information regarding these and other risks, uncertainties or
factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. The Company does not undertake
any obligation to update any forward-looking statement as a result
of new information, future events or otherwise, except as required
under law.
For further information:
BIT Mining Limited
ir@btc.com
Ir.btc.com
The Piacente Group, Inc.
Brandi Piacente
Tel: +1 (212) 481-2050
Email: BITMining@thepiacentegroup.com
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SOURCE BIT Mining Limited