AKRON,
Ohio, Dec. 12, 2022 /PRNewswire/ -- BIT Mining
Limited (NYSE: BTCM) ("BIT Mining," "the Company," "we," "us," or
"our company"), a leading technology-driven
cryptocurrency mining company, today announced that it
plans to change the ratio of its American Depositary Shares
("ADSs") to its Class A ordinary shares (the "ADS Ratio"), par
value US$0.00005 per share, from the
current ADS Ratio of one (1) ADS to ten (10) Class A ordinary
shares, to a new ADS Ratio of one (1) ADS to one hundred (100)
Class A ordinary shares (the "ADS Ratio Change"). The Company
anticipates that the ADS Ratio Change will be effective on or about
December 23, 2022.
For BIT Mining's ADS holders, the ADS Ratio Change will have the
same effect as a one-for-ten reverse share split. BIT Mining's ADSs
will continue to be traded on the New York Stock Exchange under the
ticker symbol "BTCM".
No fractional new ADSs will be issued in connection with the ADS
Ratio Change. The ADS Ratio Change will have no impact on BIT
Mining's underlying Class A ordinary shares, and no Class A
ordinary shares will be issued or cancelled in connection with the
ADS Ratio Change.
As a result of the ADS Ratio Change, BIT Mining's ADS trading
price is expected to increase proportionally; however, there can be
no assurance that the ADS trading price after the ADS Ratio Change
will be equal to or greater than ten (10) times the ADS trading
price before the change.
About BIT Mining Limited
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, data center operation and mining machine
manufacturing. The Company owns the world's top blockchain browser
BTC.com and the comprehensive mining pool business operated under
BTC.com, providing multi-currency mining services including BTC,
ETC and LTC. The Company also owns a 7-nanometer
cryptocurrency mining machine manufacturer, Bee
Computing, enabling the Company's self-efficiency through vertical
integration with its supply chain.
Safe Harbor Statements
This press 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. Statements that are not historical facts are
forward-looking statements. Such statements are based upon
management's current beliefs and expectations, as well as current
market and operating conditions. Forward-looking statements involve
inherent risks and uncertainties, all of which are difficult to
predict and many of which are beyond the Company's control. A
number of factors could cause actual results, performance or
achievements to differ materially from those contained in any
forward-looking statement, including but not limited to: the
Company's ADS trading price, and whether it will increase after the
ADS Ratio Change; and assumptions underlying or related to the
foregoing. 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. All information
provided in this press release and in the attachments is as of the
date of this press release, and 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 applicable law.
For more information:
BIT Mining Limited
ir@btcm.group
ir.btcm.group
www.btcm.group
The Piacente Group, Inc.
Brandi Piacente
Tel: +1 (212) 481-2050
Email: BITMining@thepiacentegroup.com
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SOURCE BIT Mining Limited