500 Lottery Network announced that it will purchase 5,900 Bitcoin mining machines

On February 2, 500 Lottery Network announced that the company has reached a final purchase agreement for 5,900 Bitcoin mining machines for a total amount of approximately RMB 55.2 million (approximately US$8.5 million), which is expected to be delivered in the second quarter of 2021. At the same time, 500 Lottery Network also announced that the company has signed a framework agreement, according to which 500 Lottery Network has agreed in principle to purchase up to 10,000 Bitcoin mining machines in 2021, subject to availability and certain other conditions. In addition, the company needs to pay a performance bond of RMB 2,000 per unit for the first 5,000 mining machines, totaling RMB 10 million (approximately US$1.5 million). (Sina Finance)