Xổ số trực tuyến Trung Quốc 500.com đổi tên thành BIT Mining Limited
The management of the Chinese online lottery service made a responsible decision to change the company's name from 500.com to BIT Mining Limited.
This was announced today by representatives of the company in their official twitter account. During the board meeting, the proposed rebranding of BIT Mining Limited was approved.
In addition, 500.com decided to change its own ticker at the same time. Previously it was called WBAI, and now it will be BTCM.
According to her management, BIT Mining Limited is striving to take a leading position in the territory of China in the mining of cryptocurrency. Since the announcement that they have joined the cryptocurrency industry in December 2020, the company has managed to negotiate the acquisition of 5,900 digital currency mining machines for $8.5 million and a controlling stake in Loto Interactive Limited.
The company also managed to be on the rumor in connection with the buyout of the BTC.com mining pool in February 2021. Previously, this pool was wholly owned by Jihan Wu, the co-founder of Bitmain, being issued to him as an analogue of severance pay.
Such a giant mining pool cost 500.com 10% of their shares, with a capitalization of over $6 million!