The NYSE-listed crypto mining firm, BIT Mining Limited announced several appointments to its Board today. According to the mining firm, Bo Yu, who is currently working as the Chief Operating Officer and General Counsel of the company, will take over the position of Chairman of its Board of Directors.
Moreover, BIT Mining Limited has appointed Qian Sun, an Independent Director of the mining firm, as a member of each of the Company's audit committees and its nominating and corporate governance committee.
Listed on the New York Stock Exchange (NYSE) under the symbol BTCM, BIT Mining Limited is one of the well-known crypto mining firms. With the growing market of digital assets, the company has expanded its mining capacity in the last few quarters. Through the latest appointments, BIT Mining is planning to strengthen its team to accelerate its global expansion.
“Man San Vincent Law, an executive director of the Company, has been appointed as the chairman of the Company's strategic planning committee and a member of its compensation committee, effective December 28, 2021. Mr Yu will remain the Chairman of each of the Company's compensation committee and its nominating and corporate governance committee, Mr Sun will remain a member of the Company's strategic planning committee, and Mr Law will remain a member of the Company's nominating and corporate governance committee,” the company mentioned.
BTC Mining
In 2021, operational BTC miners witnessed record profits, thanks to the rising price of the cryptocurrency. According to Glassnode’s latest on-chain analysis report, the BTC mining Hash Rate has spiked by almost 27% this year despite all the challenges. BIT Mining aims to utilize the growth in the crypto mining industry through the expansion of its capacity in 2022.
“The Company has also entered into a definitive agreement to acquire a 7-nanometer cryptocurrency mining machine manufacturer, Bee Computing, to complete the Company's vertical integration with its supply chain, increase its self-sufficiency and strengthen its competitive position,” BIT Mining concluded.
