SHENZHEN, China, June 21, 2021 /PRNewswire/ -- BIT Mining Limited
(NYSE: BTCM) ("BIT Mining" or "the Company"), a leading
cryptocurrency mining enterprise, announced today that it had
successfully delivered its first batch of mining machines to
Kazakhstan. This first batch
consisting of 320 mining machines with a theoretical maximum total
hash rate capacity of 18.2 PH/s is expected to be deployed and in
operation by June 27, 2021. A second and third batch, totaling
2,600 mining machines with a theoretical maximum total hash rate
capacity of 102.3 PH/s, are expected to be delivered to
Kazakhstan before July 1, 2021. In execution of its overseas
deployment strategy, the Company expects to ship its remaining
mining machines to overseas data centers over the coming
quarters.
On June 19, 2021, the Company's
indirectly held subsidiary, Ganzi Changhe Hydropower Consumption
Service Co. Ltd ("Ganzi Changhe Data Center"), received notice (the
"Notice") from State Grid Sichuan Ganzi Electric Power Co., Ltd.
(the "Power Supplier"), informing Ganzi Changhe Data Center, that
its power supply would be
suspended, effective 9:00pm
Beijing time, June 19, 2021. Ganzi Changhe Data Center has
since suspended its operations. Data centers in Sichuan, including the Ganzi Changhe Data
Center, contributed approximately 3% of the Company's total
revenues in the month of May
2021.
Mr. Xianfeng Yang, CEO of BIT Mining, commented, "We are
committed to protecting the environment and lowering our carbon
footprint. We have been strategically expanding our operations
overseas as part of our growth strategy. Following our investments
in cryptocurrency mining data centers in Texas and Kazakhstan, we are accelerating our overseas
development for alternative high-quality mining resources. We
believe our vision and early-mover advantage will enable us to be
agile in responding to the globally evolving regulatory
environment, which will ultimately contribute to our long-term
growth."
About BIT Mining
BIT Mining (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
and owns the entire mining pool business operated under
BTC.com, including the domain name BTC.com. The Company has also
entered into a definitive agreement to acquire a 7-nanometer
cryptocurrency mining machine manufacturer, Bee Computing, 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
Ir.btc.com (The Investor Relations website has moved to
http://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
View original
content:http://www.prnewswire.com/news-releases/bit-mining-successfully-delivers-mining-machines-to-kazakhstan-301316280.html
SOURCE BIT Mining Limited