Benzinga | Oct 14, 2021 05:26PM EDT

BIT Mining's Mining Pool Subsidiary To Exit Mainland China Market

BIT Mining Limited (NYSE:BTCM) ("BIT Mining" or the "Company"), a leading technology-driven cryptocurrency mining company, today announced that its mining pool subsidiary, BTC.com will exit the mainland China market. To comply with local regulations, BTC.com will cease registering new users from mainland China and expects to start retiring the accounts of existing users in mainland China in an orderly manner starting on October 15, 2021.

BTC.com's discontinuation of service to users in mainland China may adversely impact the consolidated financial statements of the Company. However, the Company believes that its growth in global markets will help offset the loss of business in mainland China. Going forward, the Company plans to intensify its business expansion efforts and accelerate its global development.