500.com to rename itself BIT Mining Limited

NYSE-listed online-lottery services provider in China, 500.com Limited, announced its decision to change its name and ticker.

https://t.co/dvleuvSofC https://t.co/W2DEWTapcv Limited Announces Board Approval of Changes to Company Names and Ticker Symbol, as well as Calling of Extraordinary General Meeting

— 500.com (@500lottery) March 8, 2021

On March 8, the board approved the new name — “BIT Mining Limited”. The stock ticker on the exchange will change from “WBAI” to “BTCM”.

Under the company’s charter, the English-language name change must be approved by a special resolution at a general meeting of shareholders. Details for the latter provider will be published soon.

500.com Limited said it aims to become “a leading cryptocurrency mining enterprise in China”. The company has already signed agreements to purchase miners for 55.2 million yuan (~$8.5 million).

Earlier in February 2021, the online-lottery service provider bought the BTC.com mining pool, which had previously been ceded as compensation to Bitmain co-founder Jihan Wu.

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