{"id":35740,"date":"2021-02-02T16:44:29","date_gmt":"2021-02-02T14:44:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35740"},"modified":"2025-08-29T02:47:37","modified_gmt":"2025-08-28T23:47:37","slug":"500-com-to-buy-bitcoin-miners-for-8-5-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/500-com-to-buy-bitcoin-miners-for-8-5-million\/","title":{"rendered":"500.com to buy bitcoin miners for $8.5 million"},"content":{"rendered":"<p>The NYSE-listed Chinese online-lottery services provider 500.com Limited has signed a contract to purchase 5,900 bitcoin mining devices.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\"><a href=\\\"https:\/\/t.co\/W2DEWTapcv\\\">https:\/\/t.co\/W2DEWTapcv<\/a> Limited Entered into Two Agreements to Acquire Bitcoin Mining Machines <a href=\\\"https:\/\/t.co\/0RHfftR7qb\\\">https:\/\/t.co\/0RHfftR7qb<\/a><\/p>\n<p>\u2014 500.com (@500lottery) <a href=\\\"https:\/\/twitter.com\/500lottery\/status\/1356557240119881729?ref_src=twsrc%5Etfw\\\">February 2, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The deal was worth 55.2 million yuan (~$8.5 million). Delivery is expected in the second quarter of 2021.<\/p>\n<p>Under the second agreement, 500.com will purchase up to 10,000 miners in the current year under certain conditions. The company is required to post a deposit of 2,000 yuan (~$310) per device, or 10 million yuan (~$1.5 million) in aggregate.<\/p>\n<p>If all 15,900 miners are delivered, the online-lottery services provider expects its hashrate to increase by about 1,000 PH\/s.<\/p>\n<p>In January 2021, the company <a href=\"https:\/\/u1f987.com\/en\/news\/chinese-online-lottery-provider-500-com-to-buy-bitcoin-miners-for-14-4-million\">reported the purchase of devices<\/a> S17, T17, S9 and M20s for $14.4 million. Under the terms of the agreement with unnamed partners, 500.com will issue 11.9 million shares at $1.21 per share.<\/p>\n<p>Earlier, Blockstream purchased WhatsMiner mining devices from MicroBT <a href=\"https:\/\/u1f987.com\/en\/news\/chinese-online-lottery-provider-500-com-to-buy-bitcoin-miners-for-14-4-million\">for $25 million<\/a>.<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-miners-revenues-in-january-surpassed-1-billion\">In January, bitcoin miners&#8217; revenues<\/a> reached their maximum since December 2017 \u2014 $1.09 billion.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\\\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NYSE-listed Chinese online-lottery services provider 500.com Limited has signed a contract to purchase 5,900 bitcoin mining devices.<\/p>\n","protected":false},"author":1,"featured_media":35741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[133,1137],"class_list":["post-35740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-china","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35740"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35740\/revisions"}],"predecessor-version":[{"id":35742,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35740\/revisions\/35742"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35741"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}