Official statement from Bitmain Beijing

Beijing Bitmain Technology Co., Ltd. (hereinafter referred to as "Beijing Bit") is a wholly foreign-owned enterprise, and its sole shareholder is Bitmain Technologies Limited (hereinafter referred to as "Hong Kong Bit") registered in Hong Kong, China.

On October 28, 2019, Hong Kong Bit, the sole shareholder of Beijing Bit, made a shareholder decision to remove Zhan Ketuan from his position as executive director and legal representative. Subsequently, Beijing Bit terminated the labor contract with Zhan Ketuan.

At present, Zhan Ketuan no longer holds any position in "Beijing Bit". The public registration of the market supervision department shows that Zhan Ketuan is the legal representative of our country, which is a registration error and seriously violates the provisions of the "Company Law". Liu Luyao is the current legal and valid legal representative of "Beijing Bit".

During this period, our company does not recognize any illegal actions carried out by Zhan Ketuan impersonating the legal representative of "Beijing Bit" and reserves the right to pursue legal liability against Zhan Ketuan and related parties.

This is to declare.

Beijing Bitmain Technology Co., Ltd.

May 8, 2020