BIT Mining Limited, a company listed on the New York Stock Exchange, announced the sale of its mining pool BTC.com. The transaction was completed with the Hong Kong-based company Esport – Win Limited for $5 million. This sale does not affect other areas of BIT Mining's operations and is subject to regulatory approval.

The company noted that the net operating loss for this segment in 2022 was $2.6 million. BIT Mining's CEO, Yan Xianfen, commented on the sale, stating that it would allow the company to focus on the development and research of its core enterprises, making them more resilient.

In the wake of this news, BIT Mining's stock showed a negative trend, with a current price of $5.12.

Earlier, in January 2021, BIT Mining, then known as 500.com Limited and specializing in online lotteries, acquired its first batch of mining equipment for $14.4 million. A month later, the company expanded its assets by acquiring an additional 5900 devices for bitcoin mining and becoming the owner of the BTC.com pool. In March, 500.com underwent a rebranding to become BIT Mining Limited.

For the second quarter of 2023, the company's revenue was $74.1 million, with the mining pool contributing significantly — $65.9 million.