BIT Mining to implement ADS ratio change

BIT Mining ( NYSE: BTCM ) said Monday it plans to change the ratio of its American depositary shares to its class A ordinary shares from 1:10 to 1:100. The company expects the ADS ratio change will be effective on or about December 23. The ratio change will have the same effect as a 1-for-10 reverse share split. Shares of BIT Mining ( BTCM ) gained 5% after hours.