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Exhibit 99.1 BIT Mining Limited Announces Unaudited Financial Results For the First Quarter ended March 31 , 2021 SHENZHEN , China , May 10 , 2021 / PRNewswire / -BIT Mining Limited ( NYSE : BTCM ) ( “ BIT Mining , ” “ the Company , ” “ we , ” “ us , ” “ our company , " or " our " ) , a leading cryptocurrency mining enterprise , today reported its unaudited financial results for the first quarter ended March 31 , 2021 . Cryptocurrency Business Progress BIT Mining Limited has completed the transition of its business to an enterprise that covers cryptocurrency mining , mining pool and data center operation . As of today , we have deployed 50,113 mining machines . The theoretical maximum total hash rate capacity of such mining machines is about 1,031.5 PH / s , and we currently produce approximately 4 bitcoins each day . As of April 30 , 2021 , we have produced approximately 110 bitcoins , equivalent to revenue of approximately RMB40.6 million ( US $ 6.2 million ) . As of today , we have produced approximately 147 bitcoins , equivalent to revenue of approximately RMB54.4 million ( US $ 8.3 million ) . We currently own approximately 489 bitcoins , including the 356.04342 bitcoins that we received from the private placement of our Class A ordinary shares to Good Luck Information Technology Co. , Limited . On March 31 , 2021 , we completed our subscription for shares of Loto Interactive Limited ( HKEX : 08198 ) ( “ Loto Interactive " ) , which we refer to as our data center business , our ownership of Loto Interactive thereby increased to 54.2 % , and Loto Interactive became a subsidiary of our company . As a result , the Company consolidated Loto Interactive on March 31 , 2021. The three hydroelectric cryptocurrency data centers owned by Loto Interactive have an aggregate gross area of over 18,000 square meters and a total power capacity of 435WM . Such data centers could provide data analysis and storage services for up to 225,000 data processors at the same time . From April 1 , 2021 to April 30 , 2021 , revenue generated from our data center business was RMB28.3 million ( US $ 4.3 million ) . We also completed our acquisition of the entire mining pool business of Bitdeer Technologies Holding Company operated under BTC.com , including the domain name BTC.com and the cryptocurrency wallet of BTC.com ( collectively , the " BTC.com Pool Businesses " ) . From April 1 , 2021 to April 30 , 2021 , the gross profit of the BTC.com Pool Businesses was RMB 55.3 million ( US $ 8.4 million ) . All of the BTC and ETH mining machines that we have purchased are expected to be deployed by the end of 2021. Assuming full delivery , our theoretical maximum total BTC hash rate capacity will increase to approximately 2,000 PH / s , and our theoretical maximum total ETH hash rate capacity will increase to approximately 4,800 GH / s . We also have entered into a definitive agreement to acquire a 7 - nanometer cryptocurrency mining machine manufacturer , Bee Computing ( HK ) Limited , to complete our vertical integration with our supply chain , increase our self - sufficiency while also strengthening our competitive position . First Quarter 2021 Highlights . Net revenues were RMB19.6 million ( US $ 3.0 million ) in the first quarter of 2021 , representing a significant increase of RMB10.6 million or 117.8 % from RMB9.0 million for the fourth quarter of 2020 , and a sharp increase of RMB16.5 million or 532.3 % from RMB3.1 million for the first quarter of 2020. Net revenues during the first quarter of 2021 primarily consisted of RMB11.8 million ( US $ 1.8 million ) in revenue contribution from our cryptocurrency mining business that we initiated on February 27 , 2021 , which accounted for 60.2 % of total net revenues . 1