The online sports lottery hub, 500.com, based in China, experienced a minor revenue bump of 5% during the final quarter of 2020, totaling 9 million yuan (approximately $1.4 million USD). This modest win follows a challenging period for the firm, as their overall earnings for 2020 dwindled substantially in comparison to 2019.
Despite this, a beacon of optimism emerges. 500.com is undertaking a strategic shift, aiming to prioritize blockchain technology and digital currencies. They are pouring significant resources into this new venture, including a sizable acquisition of Bitcoin mining equipment. Furthermore, they have augmented their ownership in Loto Interactive Limited, an enterprise already generating buzz within the Bitcoin mining sector. This maneuver signifies a daring endeavor by 500.com to reshape their identity and exploit the flourishing cryptocurrency market.
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