500.com Reports Revenue Growth and Explores Blockchain Technology
500.com, an internet-based sports gambling company from China, witnessed revenue growth in the final quarter of 2020. The firm generated 9 million yuan (approximately $1.4 million), a 5% climb relative to the corresponding timeframe in 2019, and a substantial 48% surge from the preceding quarter.
Although the enterprise still encountered an operational deficit, it was markedly lower than the prior year. This implies that 500.com is progressing towards financial success.
Intriguingly, 500.com has opted to venture into the realm of distributed ledger technology and digital currency. They’ve executed a tactical investment in Lotto Interactive, an organization engaged in Bitcoin extraction, and have even procured a considerable quantity of Bitcoin mining equipment. This action signifies that 500.com is looking past conventional online lottery and investigating novel and potentially profitable technological domains.
