BIT Mining announces sale of remaining shares in Crypto Flow Technology Limited
AKRON, Ohio, March 15, 2023 /PRNewswire/ — BIT Mining Limited (NYSE: BTCM ) (“BIT Mining” or the “Company”), a leading technology-driven cryptocurrency mining company, announced today that the Company entered into a share sale and purchase agreement (the “Sale and Purchase Agreement”) with an unaffiliated third party (the “Buyer”), pursuant to which the Company agreed to sell, and the Buyer agreed to purchase, the entire company’s remaining share ownership i Crypto Flow Technology Limited (“Crypto Flow”), formerly known as Loto Interactive Limited, namely 48,195,605 shares of Crypto Flow, which represents approx. 8.79% of the total issued share capital of Crypto Flow, at the price of HK$0.38 per share (the “sale price”) for the total consideration for HK$18,314,330 (the “Transaction”).
The transaction and its terms are subject to the satisfaction of the conditions set out in the sale and purchase agreement, including by relevant regulatory authorities. After completion of the transaction, the company will not own any shares in Crypto Flow.
According to the transaction previously announced it 12 July 2022and completed on 26 July 2022the company sold approximately 51% of the total issued share capital at Crypto Flow, reduces the company’s share ownership i Crypto Float to 8.79%.
“We will remain focused and continue to devote resources to our mining operations in view of better cost control and improvement of operational efficiency,” commented Mr. Xianfeng Yang, CEO of the company.
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 cryptocurrency industry. The business covers cryptocurrency mining, mining pool, data center operation and production of mining machines. The company owns the world’s best blockchain browser BTC.com and the extensive mining pool business operated under BTC.com, offering mining services in multiple currencies including BTC, ETC and LTC. The company also owns a 7 nanometer cryptocurrency mining machine manufacturer, Bee Computing, enabling the company’s self-efficacy through vertical integration with the 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 US Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as such as “will”, “expect”, “anticipate”, “future”, “intend”, “plan”, “believe”, “estimate”, “goal”, “forward”, “outlook” and similar statements. Such statements are based on management’s current expectations and current market and operating conditions and relate to events involving 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 shall differ materially from those in the forward-looking statements. Additional information about these and other risks, uncertainties or factors is included in the company’s filings with the US Securities and Exchange Commission. The company undertakes no obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required by law.
For more information:
BIT Mining Limited
Piacente Financial Communications
Phone: +1 (212) 481-2050
Email: [email protected]
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SOURCE BIT Mining Limited