AKRON, Ohio, May 1, 2023 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining," "the Company," "we," "us," or "our company"), a leading technology-driven cryptocurrency mining company, today announced the launch of the latest generation of its popular Dogecoin ("DOGE") / Litecoin ("LTC") mining machine, model LD4 ("LD4"). The LD series of ASIC mining machines developed by BTCM are specifically designed for mining on the DOGE and LTC blockchains with peak hashrate and energy efficiency. LD4's extensive testing and trials provided important feedback that have paved the way to its superior hardware. LD4 is the third ASIC mining machine developed by the Company since its acquisition of mining hardware manufacturer Bee Computing in 2022.

LD4's new record in power efficiency of 0.71 W/MH represents an improvement over 0.73 W/MH for model LD3. By harnessing recent advancements in technology, LD4's peak output can reach 5GH/s, far higher than the 4800 MH/s achieved by LD3. This breakthrough in mining efficiency makes LD4 the best machine available on the market for both Litecoin and Dogecoin. LD4's reliable design features excellent heat dissipation, which enables its computing chip to frequently work at lower temperatures during long-term, consistent operations, and in turn extends LD4's lifecycle. The security features of LD4 have been further enhanced and refined over the previous generation. Every LD4 is built with not only hardware-level security protection but also high-level security software incorporating the latest Common Vulnerabilities & Exposures (CVE) vulnerability patches to guard against known weaknesses.

LD4 has an aluminum Printed Circuit Board ("PCB") and a single airflow channel mining machine design, which has demonstrated significant advantages in various aspects over LD3. LD3 used an FR4 Copper Clad Laminate ("FR4") PCB and a dual airflow channel mining machine design.

Aluminum PCBs tend to have excellent thermal conductivity, lightweight construction, reduced production costs, and environmentally friendly features. For high-power electronic devices that generate substantial heat, aluminum PCBs help maintain optimal operating temperatures and avoid overheating. Moreover, their higher mechanical strength and rigidity make aluminum PCBs more durable, thus extending device lifespans.

The single airflow channel mining machine design excels in structural compactness, ease of installation and maintenance, thermal performance, as well as cost-effectiveness compared to the dual airflow channel design. The single airflow channel design facilitates the deployment of more mining machines within limited spaces as well as simplifies assembly and maintenance processes, ultimately reducing operational costs. The single airflow channel still ensures the device operates at optimal temperatures.

Considering the numerous advantages of aluminum PCBs and its single airflow channel mining machine design, LD4 represents a significant step forward from LD3, whether in terms of durability, portability, cost-effectiveness or environmental friendliness. LD4 thereby allows for further optimization and greater efficiency in mining operations. BTCM is one of a few companies globally that have successfully implemented high-performance mining machine designs with single airflow channels and aluminum PCBs, highlighting the Company's leading technical position in its industry.

"With each new model of mining machine that BTCM develops, we further calibrate our expertise, gaining additional experience with manufacturing products that help contribute to essential blockchain networks. The sophistication of our new model LD4 mining machine is currently unmatched in our industry. As one of the world's top cryptocurrency mining machine brands, we remain committed to continuing to develop new mining machines with the latest technology and promoting improved efficiency across the industry," said Mr. Xianfeng Yang, CEO of BIT Mining.

About BIT Mining Limited

BIT Mining (NYSE: BTCM) is a leading technology-driven cryptocurrency mining company, with a long-term strategy to create value across the cryptocurrency industry. Its business covers cryptocurrency mining, mining pool, data center operation and mining machine manufacturing. The Company owns the world's top blockchain browser BTC.com and the comprehensive mining pool business operated under BTC.com, providing multi-currency mining services including BTC, ETC and LTC. The Company also owns a 7-nanometer cryptocurrency mining machine manufacturer, Bee Computing, enabling the Company's self-efficiency through vertical integration with its supply chain.

Safe Harbor Statements

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

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BIT Mining Limited
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Piacente Financial Communications
Brandi Piacente
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