SHENZHEN, China, May 19, 2021 /PRNewswire/ -- BIT Mining Limited
(NYSE: BTCM) ("BIT Mining" or the "Company"), a leading
cryptocurrency mining enterprise, today announced that it has
entered into a binding investment term sheet (the "Term Sheet")
with Dory Creek, LLC ("Dory Creek"), a wholly-owned subsidiary of
Bitdeer, Inc. to invest in a cryptocurrency mining data center in
Texas (the "Texas Mining
Center").
Pursuant to the Term Sheet, the Company will invest a total
amount of US$25.74 million and
jointly construct and operate the Texas Mining Center with Dory
Creek. The total power capacity of the Texas Mining Center is
57.2MW, with more than 85% of its power generated by clean and
low-carbon energy. As the electricity supply is further optimized
in Texas, the Texas Mining Center
will use higher proportions of electricity generated by clean
energy.
BIT Mining is devoted to protecting the environment and lowering
its carbon footprint. The Company's hydroelectric cryptocurrency
data centers in Sichuan Province,
China run 100% on clean energy.
With the arrival of the rainy season in Sichuan Province, the company's hydroelectric
cryptocurrency data centers can now fully utilize the excessive
water flows once abandoned due to insufficient electricity demand.
Through its business operation, the Company can contribute to the
local economy and provide local employment opportunities. Upon
completion of the Texas Mining Center, over 98% of the Company's
total power capacity would be generated by clean and low-carbon
energy. Going forward, BIT Mining intends to do its part, fulfill
its obligations to achieving carbon neutrality and proactively seek
out additional high-quality mining resources overseas.
About BIT Mining Limited
BIT Mining Limited (NYSE: BTCM) is a leading 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 has
deployed bitcoin mining machines with a theoretical maximum total
hash rate capacity of approximately 1,031.5 PH/s, owns three
hydroelectric cryptocurrency data centers with a total power
capacity of 435MW and owns the entire mining pool business operated
under BTC.com, including the domain name BTC.com and the
cryptocurrency wallet of BTC.com. The Company has also entered into
a definitive agreement to acquire a 7-nanometer cryptocurrency
mining machine manufacturer, Bee Computing (HK) Limited, to
complete its vertical integration with its supply chain, increase
its self-sufficiency and strengthen its competitive
position.
Safe Harbor 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. 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
Ms. Danni Zheng
Phone: +86 755 8633 8005
The Piacente Group, Inc.
Helen Wu
Tel: +86 (10) 6508-0677
Email: BITMining@thepiacentegroup.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1 (212) 481-2050
Email: BITMining@thepiacentegroup.com
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SOURCE BIT Mining Limited