#United States #Akron #BIT Mining #Cryptocurrency Mining #NYSE Compliance

BIT Mining Limited Regains NYSE Compliance

On December 18, 2024, BIT Mining Limited (NYSE: BTCM), a prominent player in the cryptocurrency mining sector, confirmed its return to compliance with the New York Stock Exchange’s (NYSE) continued listing standards. This announcement came after the company received a letter from the NYSE, dated December 17, 2024, affirming that BIT Mining has met the necessary quantitative standards, specifically concerning minimum market capitalization and shareholders' equity requirements.

Background

The compliance journey began on June 9, 2023, when the NYSE notified BIT Mining that it fell below the required standards as outlined in Section 802.01B of the NYSE Listed Company Manual. The company's average total market capitalization, along with its most recent reported shareholders' equity, dipped below $50 million. This was a significant hurdle for BIT Mining, as meeting the NYSE's requirements is critical for maintaining investor confidence and ensuring the company can continue its operations within a reputable trading environment.

Achievement of Compliance

The recent letter from the NYSE indicates that BIT Mining's proactive measures have yielded results, and as of December 17, 2024, the company successfully achieved compliance. Consequently, the .BC compliance indicator will be removed from BIT Mining's stock on the NYSE platform effective from December 18, 2024. Furthermore, BIT Mining will no longer be listed as non-compliant on the NYSE's website, thereby marking a new chapter for the firm.

Future Considerations

While achieving compliance is a noteworthy achievement, the NYSE has stipulated that BIT Mining will enter a 12-month follow-up period. This will involve regular reviews to ensure that the company maintains its compliance with all continued listing standards. The period will be crucial for BIT Mining as it prepares to navigate future market fluctuations and operational challenges.

About BIT Mining

Founded with a vision to lead in the technology-driven cryptocurrency mining industry, BIT Mining combines innovative mining practices with robust data center operations. The company's strategy revolves around creating sustained value through its integrated cryptocurrency ecosystem. BIT Mining operates highly efficient data centers that allow for profitability and consistent cash flow. In addition to these operations, BIT Mining also engages in self-mining activities and continues to develop advanced mining technologies, including its proprietary 7-nanometer BTC chips, thus strengthening its presence in the ever-evolving cryptocurrency landscape.

BIT Mining's adaptability in adjusting to variable cryptocurrency prices through self-developed and purchased mining machines is a significant advantage that helps sustain resilience in the marketplace. As it moves forward, BIT Mining remains committed to its mission of innovation and growth within the cryptocurrency industry, poised to capitalize on new opportunities while adhering to stringent listing standards.

For more insights into BIT Mining Limited and its latest developments, visit BIT Mining's official website or contact Piacente Financial Communications for investor relations inquiries.