BIT Mining

company

About

BIT Mining is a cryptocurrency mining enterprise that acquires cryptocurrency mining machines to mine for both Bitcoin and Ethereum.

Details

Last Funding Type
Post-IPO Equity
Last Funding Money Raised
$9.30M
Industries
Bitcoin,Cryptocurrency,Enterprise Software,Ethereum,Gambling
Founded date
Oct 1, 2001
Number Of Employee
251 - 500
Operating Status
Active
Stock Symbol
nyse:BTCM
Legal Name
BIT Mining Limited
Also Known As
500彩票,500wan.com,500.com Ltd,比特矿业

BIT Mining is a cryptocurrency mining enterprise that acquires cryptocurrency mining machines to mine for both Bitcoin and Ethereum.

The company was originally an online sports lottery service provider that aggregates and processes lottery purchase orders. It derives nearly all of its revenue from service fees paid by local sports lottery administration centers for the purchase orders of sports lottery products directed to such centers.

BIT Mining Limited was founded in October 2001 in Shenzhen as 500wan.com Ltd., with a registered capital of RMB 50 million. The company secured venture capital investments of several million U.S. dollars from IDG Capital Partners, Sequoia Capital, and SIG Capital in September 2007. It changed its name to 500.com in October 2013 and went public on the New York Stock Exchange (NYSE) under the symbol WBAI on November 22, 2013.

Funding Rounds

Number of Funding Rounds
Total Funding Amount
6
$95.30M
BIT Mining has raised a total of $95.30M in funding over 2 rounds. Their latest funding was raised on Aug 16, 2022 from a Post-IPO Equity round.
Announced Date Round Money Raised Number of Investors Lead Investors Post Valuation
Aug 16, 2022 Post-IPO Equity $9.30M Detail
Jun 23, 2022 Post-IPO Equity $16M Detail
Jul 12, 2021 Post-IPO Equity $50M Detail
Nov 25, 2013 IPO Detail
Oct 21, 2013 Convertable Note $20M 1 Sequoia Capital China Detail

Investors

Number of Lead Investors
Number of Investors
1
2
BIT Mining is funded by 2 investors. Sequoia Capital China and IDG Capital are the most recent investors.
Investor Name Lead Investor Funding Round
Sequoia Capital China Yes Convertable Note
IDG Capital Series A

Employee Profiles

Number of Employee Profiles
1
BIT Mining has 1 current employee profiles, including Executive Zhaoxing Luo
Executive

Exits

BIT Mining has had 1 exits. BIT Mining most notable exits include Loto Interactive

Date Company Name Exit Type Industry
May 24, 2002 Loto Interactive IPO Information Technology Detail

Acquisition

BIT Mining has acquired 3 organizations. Their most recent acquisition was Tong Tong Pay on Dec 24, 2015. They acquired Tong Tong Pay for $5.08M.

Date Company Name
Industry Acquisition Type Price
Dec 24, 2015 Tong Tong Pay
Finance $ 5.08M Detail
Feb 16, 2021 BTC.com
Bitcoin acquisition Detail
Apr 5, 2021 Bee Computing
Bitcoin acquisition $ 100M Detail