Bit Mining completed a private placement of 50 million US dollars to accelerate the layout of the industrial chain

On July 16, Bit Mining ($Bit Mining (BTCM) $) announced that the previously disclosed preconditions for private placement of 100 million Class A ordinary shares have been reached, and the placement has been completed on July 16. The placement raised a total of 50 million US dollars (about 330 million RMB), and the company plans to use the proceeds from the placement for mining machine procurement, new data center construction and enterprise operation.

In addition, in this issue, investors can obtain a warrant for every Class A ordinary stock purchased. The warrant is valid for 3 years from the date of issuance, and can be exercised only 6 months from the date of issuance. Under certain conditions, every 10 Class A ordinary shares can be converted into 1 ADS.

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