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China's 500.com To Enter The Bitcoin Mining Space With $14.4 Million Value Acquisition Of Miners

Mary Liu

Summary: 500.com, the US-listed lottery company in China (NYSE: WBAI) announced today that it has signed a contract with an unnamed non-US company to purchase Bitcoin miners, including models of S17, T17, M20, and S9, with a total hash rate of about 918.5 PH/S. The acquisition will be made via approximately $14.4 million of WBAI's Class ...

500.com, the US-listed lottery company in China (NYSE: WBAI) announced today that it has signed a contract with an unnamed non-US company to purchase Bitcoin miners, including models of S17, T17, M20, and S9, with a total hash rate of about 918.5 PH/S. The acquisition will be made via approximately $14.4 million of WBAI's Class A common shares. According to the announcement, the transaction is expected to be completed in the first quarter of 2021, and WBAI is expected to start earning mining revenue in the first half of 2021. 

By Mary Liu

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Link: China's 500.com To Enter The Bitcoin Mining Space With $14.4 Million Value Acquisition Of Miners   [Copy]
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