Why Bitcoin-, Ethereum- And Litecoin-Related Stock BIT Mining Is Down Over 40% Today

BIT Mining Ltd – ADR BTCM shares are buying and selling decrease by 41.18% to $0.70 after the corporate introduced a $16 million registered direct providing.

BIT Mining says the corporate intends to make use of the online proceeds of the registered direct providing to spend money on mining machines, construct new information facilities, broaden infrastructure and enhance working capital place.

BIT Mining says the providing is anticipated to shut on or about June 27, 2022, topic to satisfaction of customary closing situations.

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BIT Mining is a cryptocurrency mining firm, with a long-term technique to embody the entire cryptocurrency worth chain.

In keeping with information from Benzinga Pro, BIT Mining has a 52-week excessive of $14.65 and a 52-week low of $0.62.