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.
A company held by Suncity Group Executive Director Alvin Chau is in negotiations to purchase cryptocurrency mining hardware, usually used to mine Bitcoin.
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.
Chinese lottery company 500.com said it agreed to buy bitcoin mining company BTC.com in a all-stock transaction.
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.
Online casinos and illegal bookmakers are feeling the squeeze after the Russian central bank has made it very difficult for punters to get paid.
Bitcoin’s meteoric rise in the last three months has recaptured the news headlines and the imagination of speculators the world over, especially as it continues to set new highs almost daily.
500 com has announced that it has entered into a purchase agreement for approximately US$14.4 million worth of its Class A ordinary shares in order to acquire bitcoin mining machines from an unnamed seller.
There should only be one massive blockchain platform as the multiple possibilities in the market at the moment are creating confusion and hindering uptake by the gaming industry, Jimmy Nguyen, founder of the Bitcoin Association said.
Since it was created more than a decade ago, bitcoin has found itself caught in the unenviable nexus between exciting innovation on the one hand, and controversial disruptor on the other.