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BIT Mining: Ethiopia

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Cryptoasset technology company Bit Mining has finished the second phase of its acquisition of data centers in Ethiopia.

Bit Mining first announced its plan to buy the data centers in December 2024, finalizing the deal later that same month. To fund the final purchase and the deployment of Bitcoin mining machines, the company issued an additional 45,278,600 Class A ordinary shares.

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BIT Mining (NYSE: BTCM) is a technology-driven cryptocurrency mining company focused on creating value in the crypto industry. Its operations span cryptocurrency mining, mining pools, and data center management. BIT Mining owns BTC.com, a leading blockchain browser, and operates a comprehensive mining pool under the same brand, offering multi-currency mining services for BTC, ETH, and LTC. The company has also entered an agreement to acquire Bee Computing, a 7-nanometer crypto mining machine manufacturer, to enhance its supply chain integration, boost self-sufficiency, and strengthen its competitive edge.

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