BIT Mining Limited Completes Sale of its Mining Pool Business

Core Viewpoint - BIT Mining Limited has successfully completed the sale of its entire mining pool business, BTC.com, to Esport – Win Limited for a total consideration of US$5 million, which is expected to enhance the company's financial position and focus on remaining business units [1][2]. Group 1: Transaction Details - The sale of the mining pool business was finalized on February 29, 2024, but for accounting purposes, it was deemed disposed of on January 31, 2024 [1]. - The company retained 71.37 bitcoins valued at US$3 million during the transfer for compliance and safety purposes [1]. - The transferred business had approximately US$17 million in net liability as of January 31, 2024, leading to an increase of approximately US$19 million in total shareholders' equity for BIT Mining [2]. Group 2: Company Strategy and Operations - BIT Mining is a technology-driven cryptocurrency mining company involved in cryptocurrency mining, data center operations, and mining machine manufacturing [3]. - The company aims to create long-term value across the cryptocurrency ecosystem through cost-efficient data centers and self-mining operations [3]. - BIT Mining possesses 7-nanometer BTC chips and has strong capabilities in developing LTC/DOGE miners and ETC miners [3].