BIT Mining Names Bo Yu as Chairman of Its Board of Directors

NYSE-listed crypto mining firm BIT Mining Limited announced on Tuesday that it has appointed Bo Yu, the Chief Operating Officer and General Counsel of the company, as Chairman of its Board of Directors. 

According to the mining firm,  it appointed Qian Sun, an independent director of the company, as a member of each of the Company's audit committee and its nominating and corporate governance committee. It appointed Man San Vincent Law, an executive director of the Company, 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.

BIT Mining (NYSE: BTCM) is a leading technology-driven cryptocurrency mining company, with a long-term strategy to create value across the cryptocurrency industry. According to Glassnode's latest on-chain analysis report, BTC mining Hash Rate spiked by almost 27% despite all the challenges in 2021. Next year, the company aims to expand its capacity to utilize the growth of the crypto mining industry. This new appointment is targeted to strengthen its team to accelerate its global expansion.

​"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 said.