BIT Mining discloses NYSE notice on continued listing criteria

BIT Mining “announced that it received a letter from the NYSE dated June 9, 2023, notifying the Company that it was not in compliance with applicable market capitalization and equity criteria in the NYSE’s continued listing standards because, as of June 8, 2023, the Company’s (i) average total market capitalization was less than $50 million over a consecutive 30 trading-day period, and (ii) last reported stockholders’ equity as of March 31, 2023 was less than $50 million. In accordance with procedures in the NYSE’s Listed Company Manual, the Company has 90 days following its receipt of the notice to submit a business plan to the NYSE that demonstrates how the Company intends to regain compliance with the Market Cap and Equity Criteria within 18 months of receipt of the notice. The Company intends to develop and submit such a business plan to the NYSE. The business plan will then be reviewed for final disposition by the NYSE.”