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BIT Mining Announces Changes to its Board of Directors – PRNewswire

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HONG KONG, Nov. 30, 2021 /PRNewswire/ — BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or the "Company"), a leading technology-driven cryptocurrency mining company, today announced that Mr. Shengwu Wu, the chairman of the Company’s board of directors ("the Board"), and Mr. Yu Wei, independent director and member of the Board, have resigned from their positions, effective November 30, 2021. Their resignations follow the Company’s pivot away from mainland China, and focus on global deployment.
Prior to their resignations, Mr. Wu was the chairman of the Company’s strategic planning committee and a member of its compensation committee, and Mr. Wei was a member of the Company’s audit committee and a member of its nominating and corporate governance committee. As a result of their resignations, the number of directors on the Board reduced to five from seven. The Company intends to fill these committee vacancies in due course.
"On behalf of the Company, I would like to express our sincerest gratitude to Mr. Shengwu Wu and Mr. Yu Wei, for their outstanding contributions over the past few years, " commented Mr. Xianfeng Yang, CEO of BIT Mining. "We wish them the best of success in their future endeavors."
Mr. Shengwu Wu and Mr. Yu Wei, said "It has been a great honor and experience working with the Company, and we are expecting to continuously support the Company going forward. "
About BIT Mining
BIT Mining (NYSE: BTCM) 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, providing multi-currency mining services including BTC, ETH and LTC. The Company has also entered into a definitive agreement to acquire a 7-nanometer cryptocurrency mining machine manufacturer, Bee Computing, to complete the Company’s vertical integration with its supply chain, increase its self-sufficiency and strengthen its competitive position.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Important factors that could cause BIT Mining’s actual results to differ materially from those indicated in the forward-looking statements include, among others: the formation of the JV, the joint development and operation of the Ohio Mining Site, and the execution and anticipated benefits of BIT Mining’s growth strategy, including the transactions contemplated under the Agreements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
For further information:
BIT Mining Limited
[email protected]
Ir.btc.com
The Piacente Group, Inc.
Brandi Piacente
Tel: +1 (212) 481-2050
Email: [email protected]
SOURCE BIT Mining Limited
http://ir.btc.com/

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Explained: India's first crypto index and what it means for investors in India – Times of India

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Intel, Block Supporting Mining a Positive for Bitcoin’s Price: Analyst – CoinDesk

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Large tech companies such as Intel and Block (previously Square) delving into making mining more efficient and accessible is likely to help the price of bitcoin by encouraging mass adoption, said an analyst for U.K-based digital asset broker GlobalBlock.
Intel, one of the world’s largest chip makers, said on Jan. 18 it will unveil an “ultra low-voltage bitcoin mining ASIC” which will be a more efficient specialized mining computer, competing with current miners that are in the market. “The fact that a $200+ billion tech firm is providing solutions for Bitcoin mining is more confirmation of big players entering the crypto space,” said GlobalBlock’s analyst Marcus Sotiriou.
The chipmaker said its new miner will reduce power consumption by about 15%, Sotiriou said, adding that such an increase in efficiency will help more institutional investors to enter the sector as ESG (environmental, social and governance) is one of their key investment priorities. If such a scenario plays out, it will likely help support bitcoin’s price.
Read more: How Bitcoin Mining Works
Crypto miner Griid Infrastructure, which is going public via a merger with special purpose acquisition company Adit EdTech Acquisition Corp., has already signed a supply agreement with Intel to potentially buy the chip maker’s new ASIC miners, according to a filing.
Meanwhile, payments giant Block said on Jan. 13 that it’s going ahead with its plan to build an open-source bitcoin mining system to make “mining more distributed and efficient.” If this feature is integrated with Cash App, it might increase the use of bitcoin to pay for goods and services by its users, furthering bitcoin adoption by the masses, Sotiriou noted.
“If successful, this will dramatically increase bitcoin’s use case as a means of exchange, rather than just a store of value – this would result in significantly more adoption and hence help bitcoin reach price figures of over $100,000,” he said.
Bitcoin is now trading near $42,000 since reaching its all-time high of just under $69,000 in November. The stocks of some miners, which are highly leveraged to the price of the crypto currency they mine, have tumbled more than 50% since their peak.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Aoyon Ashraf
Aoyon Ashraf is crypto mining reporter with more than a decade of experience in covering equity markets
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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
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Dogecoin value 2022: Why did Elon Musk make the cryptocurrency's value rise? – Marca English

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Dogecoin’s value increased by 5,859% over the past 12 months
Dogecoin rose to $0.20 – a 15% increase in value – after billionaire Elon Musk announced Tesla would accept the cryptocurrency for purchasing merchandise.
The cryptocoin with the shiba inu dog meme originally started as a joke, but Musk’s various tweets about it have helped Dogecoin increase by 5,859% over the past 12 months, according to Coinbase. Tesla’s website started accepting Dogecoin soon after, with items such as an electric quad bike for kids priced at 12,020 doge ($2,368), the “Giga Texas Belt Buckle” for 835 doge ($156), and a whistle for 300 doge ($57).
This is just one of many tweets by Musk regarding Dogecoin, the first one coming December 20, 2020 when he tweeted, “One Word: Doge.” Shortly after his tweet, the value of Dogecoin rose by 20%.
Musk followed that post with a barrage of Dogecoin-related tweets in February 2021, including, “Dogecoin is the people’s crypto,” and “no highs, no lows, only Doge”. After these tweets, Dogecoin’s value soared by roughly 40%.
After a full year of showing support for Dogecoin, on December 14 Musk said Tesla would accept the cryptocoin to pay for merch. Dogecoin spiked more than 20% after his tweet.
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