BIT Mining Secures Significant Expansion with Completion of Second Phase of Ethiopian Acquisition
New York, NY – July 14, 2025 – BIT Mining Limited (NYSE: BTCM), a prominent player in the cryptocurrency mining industry, announced today the successful completion of the second phase of its strategic acquisition in Ethiopia. This milestone marks a significant step forward in the company’s global expansion plans, bolstering its operational capacity and solidifying its presence in a promising emerging market.
The acquisition, which commenced with its initial phase, focuses on establishing a substantial and technologically advanced cryptocurrency mining operation within Ethiopia. The completion of the second phase signifies the integration of further key assets and infrastructure, paving the way for enhanced operational efficiency and increased mining output. While specific details regarding the scale of the second phase were not disclosed, the company has expressed considerable optimism about the strategic advantages this expansion will bring.
Ethiopia has been identified as a region with significant potential for renewable energy sources, a critical component for sustainable and cost-effective cryptocurrency mining. BIT Mining has consistently emphasized its commitment to leveraging green energy in its operations, aligning with global sustainability initiatives and aiming to reduce its environmental footprint. The successful integration of the second phase of this acquisition is expected to further this commitment by tapping into Ethiopia’s abundant clean energy resources.
Mr. Xianfeng Yang, Chief Executive Officer of BIT Mining, commented on the achievement, stating, “We are thrilled to announce the successful completion of the second phase of our acquisition in Ethiopia. This development is a testament to our strategic vision and our team’s dedication. Ethiopia presents a unique opportunity for growth, particularly given its burgeoning renewable energy sector. We are confident that this expansion will significantly contribute to our overall operational capacity and reinforce our position as a leading global cryptocurrency mining company.”
The company anticipates that the newly acquired and integrated assets will contribute positively to its mining revenue and overall financial performance in the coming periods. BIT Mining remains focused on prudent expansion strategies that capitalize on favorable market conditions and leverage technological advancements to drive value for its shareholders.
Further updates regarding the operational capacity and contributions of these Ethiopian assets are expected to be shared by BIT Mining in future financial disclosures. The company’s continued investment in international markets underscores its ambition to build a robust and diversified cryptocurrency mining network.
BIT Mining Completes Second Phase of Acquisition in Ethiopia
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