BIT Mining (NYSE: BTCM), a leading technology-driven cryptocurrency mining company, has successfully completed the first closing of its previously announced share exchange agreement dated April 5, 2021, (as amended and restated in April 2022), entered into by the company and the shareholders of Bee Computing (HK) Limited. At the first closing of the agreement, which followed the satisfaction or waiver of certain required closing conditions, the company issued 16,038,930 of its Class A ordinary shares to the selling shareholders. “We are pleased to announce the first closing of our Bee Computing acquisition and are excited about the progress Bee Computing has made in developing and manufacturing cryptocurrency mining chips and machines,” said Xianfeng Yang, CEO of BIT Mining. “Bee Computing has a unique R&D team, which continues to achieve remarkable milestones. Going forward, we plan to devote additional resources to assist Bee Computing in its development and manufacture of more mainstream cryptocurrency mining chips and machines with increasingly cost-effective performance advantages. We believe its capabilities will optimize our product offerings and further enhance our position along the blockchain industry value chain.”

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About BIT Mining Limited

BIT Mining is a leading technology-driven cryptocurrency mining company with a long-term strategy to create value across the cryptocurrency industry. Its business covers cryptocurrency mining, mining pool and data center operation. The company owns the world’s top blockchain browser BTC.com and the comprehensive mining pool business operated under BTC.com that provides multi-currency mining services including BTC, ETH and LTC. The company also owns a 7-nanometer cryptocurrency mining machine manufacturer, Bee Computing, completing the company’s vertical integration with its supply chain, increasing its self-sufficiency and strengthening its competitive position. For more information about the company, visit www.BTCM.Group.

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