Following the acquisition of the Chinese mining pool Btc.com, the China-based lottery company 500.com revealed the purchase of a bitcoin mining rig manufacturer Bee Computing. The Shenzhen firm purchased the semiconductor and mining device manufacturer for roughly $100 million in a share exchange agreement. 500.com Changes Name to Bit Mining Limited and Acquires Bee Computing […]
A U.S. publicly-listed Chinese sports lottery firm is extending its arms into the crypto industry by announcing another related maneuver. 500.com Ltd announced it has acquired Btc.com, the well known bitcoin mining pool. Jihan Wu Is the ‘ Biggest Beneficial Owner’ of the Mining Pool Per the announcement, the online lottery service provider bought the […]
BTC.com is currently owned by Bitdeer Technologies and former Bitmain CEO Jihan Wu.
The NYSE-listed lottery firm may also acquire another 10,000 miners this year.
Shares of the company traded up 11% on the news of the deal to purchase miners later this year.