SHENZHEN, China, Feb. 2, 2021 /PRNewswire/ — 500.com Restricted (NYSE: WBAI) (“500.com” or the “Firm”), at this time introduced that it has entered right into a definitive buy settlement (the “Buy Settlement”) for five,900 bitcoin mining machines for a complete consideration of roughly RMB55.2 million (roughly US$8.5 million). All of the bitcoin mining machines are anticipated to be delivered within the second quarter of 2021.
Concurrently with the Buy Settlement, the Firm at this time introduced that it has entered right into a framework settlement (the “Framework Settlement”), pursuant to which the Firm has agreed in precept to buy as much as 10,000 bitcoin mining machines in 2021, topic to availability and sure different circumstances. The Firm is required to pay a efficiency bond of RMB2,000 per machine for the primary 5,000 machines, or RMB10 million (roughly US$1.5 million) in combination.
Assuming full supply of the 15,900 bitcoin mining machines, the Firm’s whole hash charge can be elevated by roughly 1,000 petahashes per second (PH/S).
About 500.com Restricted
500.com Restricted (NYSE: WBAI) is a web based sports activities lottery service supplier in China. The Firm gives a complete and built-in suite of on-line lottery providers, info, consumer instruments and digital group venues to its customers. Most not too long ago, 500.com is actively growing its blockchain-related enterprise.
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SOURCE 500.com Restricted