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Benzinga
Benzinga
Business
Henry Khederian

Why Bitcoin-, Ethereum- And Litecoin-Related Stock BIT Mining Is Down Over 40% Today

BIT Mining Mining

BIT Mining Ltd - ADR (NYSE:BTCM) shares are trading lower by 41.18% to $0.70 after the company announced a $16 million registered direct offering.

BIT Mining says the company intends to use the net proceeds of the registered direct offering to invest in mining machines, build new data centers, expand infrastructure and improve working capital position.

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