500.com, the largest online sports lottery provider in China, has announced the acquisition of the fourth in terms of hash rate mining pool BTC.com. According to a press release, 500.com will issue an aggregate of 44,353,435 shares (approximately 10% of the company's shares) of par value $0.00005 per share to Blockchain Alliance before April 15.
BTC.com is second only to F2Pool, Poolin and AntPool that have 15.33%, 14.39%, and 11.56% of the Bitcoin hash rate. In January this year, 500.com also announced it plans to issue $14.4 million worth of its Class A ordinary shares to purchase bitcoin (EXANTE: Bitcoin) mining rigs.
The unknown seller will reportedly supply Bitmain Antminer S17, Bitmain Antminer T17, MicroBT Whatsminer M20S, and Antminer S9. It is expected that all the mining rigs will be shipped by the end of Q1, 2021.
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