WBAI - 500.com purchases Bitcoin and Ethereum mining machines

February, 26 2021 05:33 AM 500.com Limited American Depositary Shares each representing 10 Class A shares

500.com (WBAI) inks agreement with a subsidiary of BitDeer to purchase 1,923 S17 Bitcoin mining machines for a total consideration of RMB31.3M (~$4.9M).The Company has officially begun generating revenue from cryptocurrency mining operations. On January 11, the Company purchased mining machines for ~$14.4M worth shares. On February 2, WBAI purchased 5,900 new mining machines which are expected to be deployed by May end. At the same time, the Company has made a deal to purchase 2,000 new ETH mining machines for a total consideration of RMB195M (~$30.2M).A total of 100 ETH mining machines are to be delivered during May - June, 300 machines during July - August, and the remaining 1,600 machines during September - December 2021. These ETH mining machines' total computing power is of 4,800 GH/s and is expected to yield a maximum of 330 ETH/day.Shares down 5% premarket.

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500.com purchases Bitcoin and Ethereum 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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