CryptoNewsBreaks – BIT Mining Limited (NYSE: BTCM) Receives Notice Regarding NYSE Continued Listing Standards

August 8, 2022 12:18:45

BIT Mining (NYSE: BTCM), a leading technology-driven cryptocurrency mining company, today announced its receipt of a letter from the New York Stock Exchange (“NYSE”), dated July 29, 2022, notifying the company that it was not in compliance with applicable price criteria in the NYSE’s continued listing standards. This is because, as of July 28, 2022, the average closing price of BIT Mining’s American Depositary Shares (“ADSs”) was less than US$1.00 per ADS over a consecutive 30 trading-day period. Per Section 802.01C of the NYSE’s Listed Company Manual, BIT Mining has six months (the “Cure Period”) following receipt of the notice to regain compliance with the minimum share price requirement. The company can regain compliance at any time during the Cure Period if, on the last trading day of any calendar month during the Cure Period, BIT Mining has a closing share price of at least US$1.00 per ADS, and an average closing share price of at least US$1.00 per ADS over the 30 trading-day period ending on the last trading day of that month. In the event that BIT Mining is not in compliance with these requirements at the expiration of the Cure Period, the NYSE will commence suspension and delisting procedures. On August 4, 2022, the company notified the NYSE of its intent to cure the deficiency.

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About BIT Mining Limited

BIT Mining is a leading technology-driven cryptocurrency mining company with a long-term strategy to create value across the cryptocurrency industry. Its business covers cryptocurrency mining, mining pool and data center operation. The company owns the world’s top blockchain browser and the comprehensive mining pool business operated under, providing multi-currency mining services including BTC, ETH and LTC. The company also owns a 7-nanometer cryptocurrency mining machine manufacturer, Bee Computing, completing the company’s vertical integration with its supply chain, increasing its self-sufficiency and strengthening its competitive position.

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