500.com Ltd. (WBAI) Reports Two Agreements to Acquire Bitcoin Mining Machines

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500.com Limited Entered into Two Agreements to Acquire Bitcoin Mining Machines

February 2, 2021 5:00 AM EST

SHENZHEN, China, Feb. 2, 2021 /PRNewswire/ -- 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), today announced that it has entered into a definitive purchase agreement (the "Purchase Agreement") for 5,900 bitcoin mining machines for a total consideration of approximately RMB55.2 million (approximately US$8.5 million). All of the bitcoin mining machines are expected to be delivered in the second quarter of 2021.

Concurrently with the Purchase Agreement, the Company today announced that it has entered into a framework agreement (the "Framework... More