In advance of yesterday’s annual general meeting, BIT Mining Limited’s (NYSE: BTCM) shares were up 3.27% to trade at $1.58 at the time of our last check. BIT Mining is the top technology-driven cryptocurrency mining business.
What plans does BTCM have?
On December 26, 2022, at 11:00 a.m., New York Time, BIT Mining (BTCM) was scheduled to have its annual general meeting of shareholders at 800 N High St #03-102, Columbus, Ohio, US. The annual general meeting or any adjournment thereof was open to all holders of record of ordinary shares of BIT Mining as of the close of business on November 25, 2022, US Eastern time (the “Record Date”).
These shareholders also had the right to notice of, attendance at, and vote at the meeting. The depositary of the Company’s ADS program, Deutsche Bank Trust Company Americas, was used by holders of BTCM’s American Depositary Shares (“ADSs”) who desired to exercise their voting rights for the underlying common shares.
A cyberattack was launched against a BTCM subsidiary:
BTCM revealed yesterday that its subsidiary, BTC.com, was subjected to a cyberattack on December 3, 2022. Some digital assets, including those worth around US$700,000 that belonged to BTC.com’s clients and roughly US$2.3 million that belonged to the company, were taken during the incident.
Officials in Shenzhen, China were informed about this event by BTCM. Some of BTC.com’s digital assets were already safeguarded thanks to local and internal collaboration. The authorities started an investigation, started gathering information, and asked the appropriate agencies for help and coordination on December 23rd, 2022.
How did BTCM progress?
BIT Mining (BTCM) promised to make a significant effort to retrieve the digital assets that were stolen. After learning about this intrusion, a BTCM subsidiary put technologies in place to better prevent and detect hackers. With the exception of its services related to digital assets, BTC.com is now conducting business as normal.