WBAI - 500.com Limited inks two agreements to acquire bitcoin mining machines

February, 02 2021 05:13 AM 500.com Limited American Depositary Shares each representing 10 Class A shares

500.com Limited (WBAI) has signed a purchase agreement to acquire 5,900 bitcoin mining machines for ~RMB55.2M.All of the bitcoin mining machines are expected to be delivered in 2Q21. Concurrentlt, the company also entered into a framework agreement to purchase up to 10,000 bitcoin mining machines in 2021. The company is required to pay a performance bond of RMB2,000 per machine for the first 5,000 machines, or RMB10M in aggregate. Assuming full delivery of the 15,900 bitcoin mining machines, the company's total hash rate will be increased by approximately 1,000 petahashes per second (PH/S).

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500.com Limited inks two agreements to acquire bitcoin mining machines

Company Name:	500.com Limited American Depositary Shares each representing 10 Class A shares
Stock Symbol:	WBAI
Market:	NYSE

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