Ohio, Feb. 2, 2023 /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
has received a letter from the New York Stock Exchange (the
"NYSE"), dated January 31, 2023,
notifying the Company that it has regained compliance with the
NYSE's continued listing standards.
On July 29, 2022, the NYSE
notified the Company that it was not in compliance with the NYSE's
continued listing standards because, as of July 28, 2022, the average closing price of the
Company's American Depositary Shares (the "ADSs") was less than
US$1.00 per ADS over a consecutive 30
On December 23, 2022, the Company
effected a change to a new ratio of one (1) ADS to one hundred
(100) Class A ordinary shares, par value US$0.00005 per share, which had the same effect
as a one-for-ten reverse share split.
In its letter dated January 31,
2023, the NYSE confirmed that a calculation of the Company's
average stock price for the 30-trading days ended January 30, 2023, indicated that the Company's
stock price was above the NYSE's minimum requirement of
$1 based on a 30-trading day average.
Accordingly, the Company is no longer considered below the
$1 continued listing criterion.
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 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 more information:
BIT Mining Limited
The Piacente Group, Inc.
Tel: +1 (212) 481-2050
SOURCE BIT Mining Limited