BIT Mining Limited (BTCM)

BIT Mining Limited (BTCM) ("BIT Mining" or the "Company"), a leading technology-driven cryptocurrency mining company, today announced its continued commitment to self-mining Litecoin (LTC) and Dogecoin (DOGE) alongside Bitcoin (BTC) mining and its data center hosting businesses.

As other crypto miners look to diversify revenue streams in a post-halving environment, BIT Mining's expansion into Litecoin (LTC) and Dogecoin (DOGE) has proven to be nearly three times more profitable than mining BTC alone.

> "At BIT Mining, we believe our cutting-edge technology and forward-thinking strategy uniquely position us to adapt to market shifts and seize new opportunities," commented Xianfeng Yang, CEO of BIT Mining. "By combining innovation with agility, we are enhancing our competitive edge and creating value for our stakeholders. As the cryptocurrency market continues to evolve, we are ready to grow alongside it, leveraging our strengths for long-term success."

As of November 27, 2024, the Company has mined 84,485.42 LTC and 227,908,250.38 DOGE since it started the LTC and DOGE self-mining business. With over 5,552 active LTC/DOGE/BEL mining machines (capable of mining three coins simultaneously; BEL coin is newer and relatively more volatile) delivering a combined hash rate of 18.94 TH/s, the Company currently represents 1.32% of the total global network hash rate in LTC/DOGE/BEL, making it one of the largest participants.

BIT Mining's commitment to Litecoin (LTC) and Dogecoin (DOGE) is a major strategic action following its 2021 acquisition of Bee Computing, a semiconductor company dedicated to blockchain hardware design and development. Since the acquisition, the Company has launched power-efficient LD3 miners, among the few cutting-edge machines that deliver highly cost-effective performance and the shortest payback period for LTC/DOGE/BEL mining, thus increasing profitability and solidifying its position as a market leader. The success of LD3 highlights BIT Mining's forward planning and long-term commitment to blockchain technology, where miners provide foundational support for the ecosystem.

> "The recent rally in Litecoin and Dogecoin, fueled in part by Elon Musk's influence and the changing regulatory landscape in the US after the Trump win, has had a major impact on mining profitability," noted Dr. Youwei Yang, Chief Economist and VP of Mining at BIT Mining. "Ongoing advancements in blockchain technology, particularly in network interoperability, are fueling optimism in the crypto market, with Dogecoin and Litecoin gaining significant momentum. Many analysts predict this upward trend will continue through 2025, reflecting confidence in DOGE's potential and the broader growth of the cryptocurrency industry."

Having recently announced an expansion into Ethiopia, the Company continues to lead in industry and technology innovation, securing premium mining and data center resources while building strong international partnerships. With a renewed focus on mining machine development, self-operated mining, and data center operations, the Company is well-positioned to thrive in the rapidly evolving crypto environment.

To learn more about BIT Mining, visit www.btcm.group.