ChainCatcher news, according to CoinDesk, BIT Mining has acquired a 51-megawatt power facility and nearly 18,000 Bitcoin mining machines in Ethiopia through a $14 million deal. With electricity costs in Ethiopia being about 70% lower than in the United States, the company is able to transfer old mining machines that were retired in the U.S. for local use, extending the lifespan of the machines by about two years.It is reported that Ethiopia's abundant hydroelectric resources (partly from China-funded projects, such as the Grand Ethiopian Renaissance Dam) and the government's support for Bitcoin mining provide BIT Mining with a unique opportunity.Currently, Ethiopia contributes 1.5% of the Bitcoin network's hash rate, comparable to Norway. Despite facing social unrest, BIT Mining chose to purchase existing facilities rather than build new ones to mitigate potential risks.

ChainCatcher news, according to market news: The cryptocurrency mining company BIT Mining has re-complied with the standards to continue listing on the New York Stock Exchange. (Jin Shi)

ChainCatcher news, mining company BIT Mining stated that its efforts in mining Dogecoin and Litecoin are significantly more profitable than just mining Bitcoin. BIT Mining previously only mined Bitcoin, and on December 4, the company announced its entry into the Dogecoin and Litecoin markets, proving that its profits are nearly three times higher than mining BTC alone.The company reported that as of November 27, it had mined 227 million DOGE, worth 94.8 million USD, and 84,485 LTC, worth 10.7 million USD.

ChainCatcher news, the listed Bitcoin mining company BIT Mining announced that it has signed a final agreement to acquire a 51-megawatt mining data center in Ethiopia and 17,869 Bitcoin mining machines, with a total consideration of $14.28 million, including a cash payment of $2.265 million and the issuance of Class A common stock with a par value of $0.00005 per share (totaling $12.015 million).

ChainCatcher news, according to Bloomberg, the U.S. SEC stated on Monday that the cryptocurrency mining company BIT Mining Ltd. (formerly known as 500.com Limited) has agreed to pay a $4 million fine to settle the agency's allegations of bribing Japanese officials.The SEC pointed out that BIT Mining paid $2.5 million in cash bribes and gifts to Japanese lawmakers and others between 2017 and 2019 in an attempt to win bids for opening casino resorts in Japan.In a separate action, the U.S. Department of Justice announced that it has reached an agreement with BIT Mining, where BIT Mining agrees to pay a $10 million criminal fine, of which $4 million will be paid to the U.S. SEC by the company.

ChainCatcher news, according to Chainwire, the decentralized protocol Prosper announced that its native project token PROS has received investment from the crypto mining company BIT Mining, with the specific amount not disclosed.It is reported that the Prosper protocol aims to connect institutional-grade Bitcoin mining capabilities to the blockchain, with the goal of unlocking the potential of Bitcoin through liquidity mining.

ChainCatcher news, cryptocurrency mining company BIT Mining has agreed to sell its entire mining pool business operated under BTC.com to the Hong Kong limited company Esport Win Limited, for a total consideration of $5 million.It is reported that the sale of the business is expected to result in an increase of approximately $16 million in total shareholder equity, as the business has about $11 million in net cryptocurrency liabilities. The sale does not include or affect any other business of BIT Mining. The sale of the business is subject to certain closing conditions and applicable regulatory approvals, and is expected to be completed once the closing conditions are met.

ChainCatcher news, cryptocurrency mining company BIT Mining released its unaudited financial report for the second quarter, as of June 30, 2023. BIT Mining produced 29.4 million DOGE and 16,027 LTC in the second quarter (with revenue of approximately $3.6 million), and the Bitcoin output was 22.6 BTC (with revenue of approximately $600,000).In addition, BIT Mining's revenue for the second quarter of 2023 was $74.1 million, a decrease of $121.4 million compared to the second quarter of 2022, representing a year-on-year decline of 62.1%, but an increase of 1.6% compared to the first quarter of this year.The operating loss for the second quarter of 2023 was $1.5 million, a decrease of $19 million compared to the second quarter of 2022, and a decrease of $4.5 million compared to the first quarter of 2023. BIT Mining's net loss for the second quarter of 2023 was $900,000, a year-on-year decrease of 95.1% and a quarter-on-quarter decrease of 81.6%.

ChainCatcher news, the cryptocurrency mining company BIT Mining announced that its subsidiary BTC.com suffered a cyberattack on December 3, 2022, resulting in the theft of some digital assets, including approximately $700,000 worth of BTC.com user assets and approximately $2.3 million worth of company assets.It is reported that the company has reported the incident to law enforcement in Shenzhen, China, and some of BTC.com’s digital assets have been protected. Local authorities began an investigation and evidence collection on December 23, 2022, and requested assistance from relevant departments. The company will make every effort to recover the stolen digital assets. BTC.com is currently operating normally, and customer fund services have not been affected, aside from digital asset services. (source link)