SHENZHEN, China, April 12, 2021 /PRNewswire/ -- BIT Mining Limited
(500.com Limited, NYSE: WBAI) ("BIT Mining Limited" or the
"Company"), a leading cryptocurrency mining enterprise, today
announced that at its extraordinary general meeting, held on
April 8, 2021, the Company's
shareholders passed both (i) the special resolution to change the
English name of the Company to "BIT Mining Limited", effective as
of April 8, 2021 and (ii) the
ordinary resolution to increase the authorized share capital
of the Company by US$50,000 through the addition of
900,000,000 Class A Ordinary Shares of a nominal or par value of
US$0.00005 each and 100,000,000 Class
B Ordinary Shares of a nominal or par value of US$0.00005 each. Together with the previously
authorised share capital, the company's total share capital is now
US$100,000, which is divided
into 1,599,935,000 Class A Ordinary Shares of a nominal or par
value of US$0.00005 each, 65,000
Class A Preference Shares of a nominal or par value of US$0.00005 each, issued in accordance to the
Board Minutes dated April 5,
2021 and 400,000,000 Class B Ordinary Shares of a nominal or
par value of US$0.00005 each.
As previously announced by the Company on March 8, 2021, a majority of its Board of
Directors (the "Board") resolved to change (i) the Company's
English name to "BIT Mining Limited" (the "English Name Change"),
subject to shareholder approval being received for the English Name
Change, (ii) the Company's Chinese business name to "比特矿业", and (iii) the Company's ticker
symbol to "BTCM".
The Company's American Depositary Shares ("ADSs"), each
representing the right to receive 10 Class A ordinary shares with
par value of US$0.00005 per share, of
the Company, are listed on the NYSE under the ticker symbol "WBAI".
The Company's ADSs are expected to begin trading under the
Company's new English name, "BIT Mining Limited", and its new
ticker symbol, "BTCM", effective at the opening of trading on
Tuesday, April 20, 2021.
New Agent for Service of Process
The Company previously appointed Law Debenture Corporate
Services Inc. as its agent for the service of process in respect of
the Company's Registration Statement on Form F-1 (File No.
333-191844), as amended, initially filed with the SEC on
October 22, 2013 (the "Form F-1
Registration Statement"), this appointment has now expired. The
Company also announced today that it has appointed Cogency Global
Inc., currently located at 122 East 42nd Street, 18th Floor,
New York, New York 10168, as its
successor agent for the service of process in respect of the Form
F-1 Registration Statement, effective as of and after April 9, 2021.
About BIT Mining Limited
BIT Mining Limited (NYSE: WBAI) is committed to becoming a
leading cryptocurrency mining enterprise. Since announcing its
entry into the cryptocurrency industry in December 2020, the Company has entered into
definitive agreements to (i) purchase cryptocurrency mining
machines, (ii) increase holdings of Loto Interactive Limited
(HKEX: 08198), a subsidiary of the Company that owns big data
centers, (iii) acquire the entire mining pool business of Bitdeer
Technologies Holding Company, operated under BTC.com, including the
domain name BTC.com and the cryptocurrency wallet of BTC.com,
and (iv) acquire Bee Computing (HK) Limited, a 7-nanometer mining
machine manufacturer, to unfurl an approach to the full
industry chain of cryptocurrency mining. BIT Mining was also
an online sports lottery service provider in China.The Company
offers a comprehensive and integrated suite of online lottery
services, information, user tools and virtual community venues to
its users.
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.com Limited
ir@500wan.com
Ms. Danni Zheng
Phone: +86 755 8633 8005
The Piacente Group, Inc.
Helen Wu
Tel: +86 (10) 6508-0677
Email: 500@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1 (212) 481-2050
Email: 500@tpg-ir.com
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SOURCE 500.com Limited
