Akron, Ohio, July 14, 2025 /PRNewswire/ — BIT Mining Limited (NYSE: BTCM), a technology leader in the digital currency asset sector, today announced it has finalized the second stage of its previously announced purchase of digital currency mining data centers and Bitcoin mining equipment located in Ethiopia.
The original agreement, signed on December 3, 2024, outlined the acquisition of digital currency mining facilities situated in Ethiopia. Following the successful initial phase completed on December 9, 2024, the company has now issued 45,278,600 additional Class A ordinary shares. This issuance finalizes the exchange for the remaining data centers along with their associated Bitcoin mining machines. With the completion of this second phase, the total power capacity of the data centers now reaches 51 megawatts.
“As we continue to advance our digital currency mining operations, we are also strategically pivoting to explore potential opportunities within the Solana ecosystem,” stated Xianfeng Yang, Chief Executive Officer of BIT Mining. “This strategic move underscores our dedication to capitalizing on broader market opportunities and adapting to emerging trends that will foster sustained value and growth for our company.”
About BIT Mining Limited
BIT Mining Limited (NYSE: BTCM) is a technology-focused digital currency asset entity that is strategically shifting its core business toward Solana (“SOL”) treasury management. Leveraging its deep expertise in blockchain technology and infrastructure, the Company is actively constructing an integrated system focused on SOL staking initiatives and broader ecosystem development. BIT Mining’s well-established strengths, including 7nm ASIC design capabilities, data center operational expertise, and mining machine manufacturing capacity, are being re-purposed to enhance treasury efficiency and bolster its overall strategic transition towards long-term sustainable value creation.
Important Disclosures Regarding Forward-Looking Statements
This announcement contains predictions and projections that constitute “forward-looking statements” as defined by Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These statements are generally identifiable by the use of future-tense verbs and predictive terminology, such as “will,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “targets,” and similar expressions. Specifically, statements not based on historical facts, including those concerning the Company’s expansion into the Solana ecosystem and the projected benefits of such expansion, constitute forward-looking statements. These statements are rooted in management’s expectations, current market conditions, and operational realities. However, they are inherently subject to known and unknown risks, uncertainties, and a multitude of other factors. These factors are difficult to predict, many are beyond the Company’s control, and they could cause actual outcomes and achievements to substantially differ from the projections contained within these forward-looking statements. Detailed information regarding these risks and other influential factors is available in the Company’s filings submitted to the U.S. Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements due to new information, future developments, or any other reason, except where legally mandated.
Contact Information:
BIT Mining Limited
ir@btcm.group
ir.btcm.group
www.btcm.group
Media Inquiries:
Bitmining@mgroupsc.com
Piacente Financial Communications
Brandi Piacente
Tel: +1 (212) 481-2050
Email: BITMining@thepiacentegroup.com
See the original release at:https://www.prnewswire.com/news-releases/bit-mining-completes-second-phase-of-acquisition-in-ethiopia-302504196.html
SOURCE BIT Mining Limited
