{"id":46014,"date":"2021-07-13T16:08:11","date_gmt":"2021-07-13T13:08:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46014"},"modified":"2025-09-01T14:14:04","modified_gmt":"2025-09-01T11:14:04","slug":"bit-mining-limited-raises-50-million-for-overseas-expansion","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bit-mining-limited-raises-50-million-for-overseas-expansion\/","title":{"rendered":"BIT Mining Limited raises $50 million for overseas expansion"},"content":{"rendered":"<p>The New York Stock Exchange-listed mining company BIT Mining Limited announced a $50 million private placement. The funds will form the company&#8217;s reserves after winding down its operations in China.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">US$50 Million Private Placement! Ready for greater expansion!<\/p>\n<p>\u2014 BIT Mining Limited (@BITMining_BTCM) <a href=\"https:\/\/twitter.com\/BITMining_BTCM\/status\/1414848988574994432?ref_src=twsrc%5Etfw\">July 13, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The buyers of the shares issued in the secondary offering were institutional and accredited investors, according to <a href=\"https:\/\/www.theblockcrypto.com\/post\/111117\/china-bitcoin-miner-bit-mining-50-million-overseas\">The Block<\/a>.<\/p>\n<p>The company plans to use the raised funds for &#8220;purchasing mining equipment, building new data centres overseas and increasing working capital&#8221;.<\/p>\n<p>The Shenzhen-based BIT Mining Limited was among those affected by Chinese authorities\u2019 crackdowns.<\/p>\n<p>In June, the authorities in several Chinese provinces ordered miners to halt operations. These included: <a href=\"https:\/\/u1f987.com\/en\/news\/yunnan-authorities-to-ban-cryptocurrency-mining-reports-say\">Yunnan<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/sichuan-miners-ordered-to-halt-operations-by-june-20\">Sichuan<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/authorities-in-chinas-qinghai-province-order-miners-to-halt-operations\">Qinghai<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/xinjiang-residents-of-one-of-the-largest-mining-hubs-ordered-to-halt-operations\">Xinjiang<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/inner-mongolia-authorities-launch-crackdown-on-illegal-cryptocurrency-mining\">Inner Mongolia<\/a>.<\/p>\n<p>According to the report, BIT Mining Limited&#8217;s offline equipment consumed 400 MW.<\/p>\n<p>In May, the company <a href=\"https:\/\/u1f987.com\/en\/news\/bit-mining-limited-to-invest-over-9-million-in-mining-centre-in-kazakhstan\">invested more than $9 million<\/a> in building a mining centre in Kazakhstan.<\/p>\n<p>In June, BIT Mining Limited <a href=\"https:\/\/u1f987.com\/en\/news\/bit-mining-limited-reports-first-shipment-of-320-miners-to-kazakhstan\">reported<\/a> deliveries of 320 miners to this site. It was anticipated that the second and third batches (2,600 miners) would be delivered to Kazakhstan by July 1.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The New York Stock Exchange-listed mining company BIT Mining Limited announced a $50 million private placement. The funds will form the company&#8217;s reserves after winding down its operations in China.<\/p>\n","protected":false},"author":1,"featured_media":46015,"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":[1713,1137,1211],"class_list":["post-46014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bit-mining-limited","tag-cryptocurrency-mining","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46014","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=46014"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46014\/revisions"}],"predecessor-version":[{"id":46016,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46014\/revisions\/46016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46015"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}