BIT Mining Acquires Ethiopian Data Centers and Mining Machines

BIT Mining (NYSE: BTCM) has agreed to acquire 51-megawatt crypto mining data centers and 17,869 bitcoin mining machines in Ethiopia for $14.28 million. The consideration comprises a cash payment of $2.265 million and the issuance of Class A ordinary shares of the Company with a par value of $0.00005 per share, amounting to an aggregate value of $12.015 million. This acquisition aligns with BIT Minings strategy of focusing on self-operated mining and data center operations. The transaction will be completed in two phases, with the first phase expected to close in the coming days.