U.S.-listed Chinese language sports activities lottery agency 500.com (NYSE: WBAI) stated Tuesday it’s inked a share-swap deal to amass the cryptoc
U.S.-listed Chinese language sports activities lottery agency 500.com (NYSE: WBAI) stated Tuesday it’s inked a share-swap deal to amass the cryptocurrency mining pool enterprise of Bitdeer Applied sciences, together with BTC.com.
Based on an announcement, the settlement will see 500.com buy all of the shares of Bitdeer-owned Blockchain Alliance, which relies within the Cayman Islands, with 10% of its personal shares.
A cryptocurrency cloud mining agency, Bitdeer Applied sciences is majority owned by its charman, Jihan Wu, who just lately resigned because the CEO and chairman of mining big Bitmain following a prolonged dispute with a co-founder. BTC.com’s pool mines numerous cryptocurrencies together with bitcoin, bitcoin money, ether and litecoin.
The inventory swap introduced by 500.com will embrace the switch of all the mining pool enterprise of Bitdeer Applied sciences, together with the area identify BTC.com and the cryptocurrency pockets of BTC.com and is anticipated to happen round April.
This 12 months, 500.com has been busy making strikes to amass batches of bitcoin mining machines after it introduced a pivot to the cryptocurrency house in January.