Former Senior Vice-Minister of the Cabinet Office Tsukasa Akimoto, charged with accepting bribes from 500 .com and other matters, is set to have his trial begin on March 29.
IR汚職 秋元司被告の初公判29日に (NNN)
500.com, which has been transforming from a Chinese online lottery company into a cryptocurrency mining enterprise, says it has completed the acquisition of a stake in Loto Interactive for HK$105 million ($13.5 million).
Today begins the trial of former Senior Vice Minister of the Cabinet Office Tsukasa Akimoto on charges of receiving bribes from agents of 500 .com and attempting to induce witnesses to perjure themselves.
500 .com, the troubled sports lottery company that is transforming into a bitcoin firm, announced its decision to relocate its headquarters from Shenzhen to Singapore.
500 .com Limited, now describing itself as “a cryptocurrency mining enterprise in China,” has announced that it has completed its acquisition of bitcoin mining machines originally announced on January 11. The bitcoin mining machines acquired in this transaction (the "Bitcoin Mining Machines") include such models as the S17, T17, M20s and S9.
500.com, formerly a Chinese online lottery company, has approved a change of name to Bit Mining Ltd. to reflect the new focus of its business.
500.com closed its previously announced private placement transaction with Good Luck Information Technology and has received 356.04342 Bitcoins and US$11.5 million in cash. The company has issued 85,572,963 newly issued Class A ordinary shares to Good Luck Information.
China sports lottery company 500.com has continued its transformation into the bitcoin space with the all-stock acquisition of bitcoin mining company BTC.com and investors appear to approve.
500 com has announced its fourth quarter and full year financial results. As for the full year 2020, net revenues were RMB21.8 million (US$3.3 million) and operating losses were RMB190.8 million (US$29.2 million).
A Chinese national and former employee of 500 com has been handed a suspended prison sentence for his part in the casino bribery scandal. Zheng Xi, a former executive of the company’s Japan unit, had argued that he had only served as a translator.
500 com has announced that it has entered into a definitive purchase agreement for 5,900 bitcoin additional mining machines for a total consideration of approximately RMB55.2 million US$8.5 million). All of the bitcoin mining machines are expected to be delivered in the second quarter of 2021.