IPO - BIT Mining Ltd

Form Type: 424B5

Filing Date: 2025-05-30

Corporate Action: Ipo

Type: New

Accession Number: 000110465925054903

Filing Summary: BIT Mining Limited is conducting an at-the-market offering of American Depositary Shares (ADSs) represented by Class A Ordinary Shares with an aggregate offering price of up to US$7,200,000. This offering follows a previous offering caps of up to US$9.6 million, reduced by approximately US$2.4 million from prior sales under a separate registration statement. The ADSs are listed on the New York Stock Exchange (NYSE) under the symbol 'BTCM'. The planned offering is conducted through H.C. Wainwright & Co. The proposed maximum number of ADSs to be offered assumes a sale price of US$2.01 per ADS, translating to potentially 3,582,089 ADSs being offered. The company aims to focus on cryptocurrency mining operations primarily in the U.S. and holds significant equity interests in various subsidiaries globally. Legal and operational risks associated with regulatory compliance in China pose challenges to the company. The offering will terminate either upon the sale of all offered shares or by mutual agreement to terminate the sales agreement with the Manager. The company does not plan to pay cash dividends in the foreseeable future, focusing instead on reinvesting earnings into growth and expansion outside of China.