Bit Mining Ltd., a cryptocurrency mining company headquartered in Akron, Ohio, intends to consolidate its shares listed on the New York Stock Exchange in order to increase their value. The change In the ratio of Bit Mining’s American depositary shares (ADS) to the Hong Kong company’s common shares would result in a 10-for-1 reverse stock split, the company said on Monday. The ratio change would take effect on or around December 23, 2022, and would initially have the effect of multiplying the price of each Bit Mining ADS by ten, according to the company.
