Category: 500.com

Chinese Lottery Firm Rebrands, Purchases Bitcoin Mining Rig Manufacturer for $100 Million

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 […]

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Chinese state-owned capital is now indirectly backing a major bitcoin mining business

Quick Take 500.com’s recently acquired major bitcoin mining pool BTC.com. The firm’s pivot to mining appears to have started as early as March 2019, as it struggled to cope with China’s 2015 crackdown on online lotteries. The new mining business is also indirectly backed by a Chinese state-owned enterprise. This feature story is available to […]

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Publicly-Listed Chinese Lottery Firm Acquires Bitcoin Mining Pool Btc.com

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 […]

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Breaking: 500.com Acquires Third-Largest Mining Pool BTC.com From Bitmain

500.com, a former Chinese lottery website that turned into a mining business announced the acquisition of BTC.com’s mining pool from Bitmain in a share exchange offer. The offer saw Bitmain acquire 10% of 500.com’s current 44,353,435 Class A ordinary shares of par value US$0.00005 per share. BTC.com was ranked third in terms of hash rate input […]

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Bitcoin mining pool BTC.com is getting acquired by Chinese sports-lottery company 500.com

Bitcoin mining pool BTC.com, operated by Jihan Wu’s BitDeer Technologies, is getting acquired by Chinese sports-lottery company 500.com. NYSE-listed 500.com announced the news on Tuesday, saying that it has entered into a share exchange agreement with Blockchain Alliance Technologies, the parent company of BitDeer, for the deal. As part of the deal, which is subject […]

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Breaking: 500.com Acquires Third-Largest Mining Pool BTC.com From Bitmain

500.com, a former Chinese lottery website that turned into a mining business announced the acquisition of BTC.com’s mining pool from Bitmain in a share exchange offer. The offer saw Bitmain acquire 10% of 500.com’s current 44,353,435 Class A ordinary shares of par value US$0.00005 per share. BTC.com was ranked third in terms of hash rate input […]

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