BIT Mining Completes First Closing of Bee Computing Acquisition

BIT Mining Limited, a Hong Kong-based cryptocurrency mining company, announced on Tuesday that it had completed the first closing of its share exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term agreement entered into by the company and the shareholders of Bee Computing Limited.

According to the press release, today, the firm issued 16,038,930 of its Class A ordinary shares to the Selling Shareholders under the Amended and Restated Share Exchange Agreement. As a result of the first closing, certain closing conditions were satisfied, among them Bee Computing’s completion of certain reorganization steps and other customary conditions.

Pursuant to the Amended and Restated Share Exchange Agreement, BIT Mining Limited is subject to the achievement of certain milestones, such as the development and mass-production of a new generation of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term mining machines incorporating 7-nanometer application-specific integrated circuits and the successful development of high-performance and mass-producible Ethereum ASIC mining machines, with certain power consumption and cost control targets.

Machines Developed

“We are pleased to announce the first closing of our Bee Computing acquisition and are excited about the progress Bee Computing has made in developing and manufacturing cryptocurrency mining chips and machines. Bee Computing has a unique R&D team which continues to achieve remarkable milestones. Going forward, we plan to devote additional resources to assist Bee Computing in its development and manufacture of more mainstream cryptocurrency mining chips and machines with increasingly cost-effective performance advantages. We believe its capabilities will optimize our product offerings and further enhance our position along the blockchain industry value chain,” Xianfeng Yang, the CEO of BIT Mining, commented.

In addition to developing new Bitcoin mining machines, Bee Computing is developing mining chips and machines for ETC and LTC. Moreover, Bitcoin mining machines of the new generation will come with 7-nanometer chips and offer a theoretical computing power of 110 TH/s while consuming 3,300W of power. A successful IC design has been completed by the ETC mining machines using 3-D wafer-over-wafer packaging (WoW).