The company, which made just $ 1.4 million last quarter, has a market capitalization of $ 1 billion.

500.com, a Chinese gambling company, is acquiring Blockchain Alliance Technologies Holding Company, the company announced today.

Blockchain Alliance owns the valuable domain name BTC.com. The deal includes:

the transfer to the Company of all Bitdeer Technologies Holding Company (“BitDeer”) mining pool business at BTC.com, including the BTC.com domain name and BTC.com’s cryptocurrency wallet (collectively the “BTC.com”) pool -Companies “).

500.com is publicly traded on the NYSE with a market cap of approximately $ 1 billion, and its share price soared today.

Seems like a healthy valuation for a company that only had $ 1.4 million in revenue last quarter? Well, stocks have been trading for about 1/10 of their current price up to this year. At this point, the company began to deal with cryptocurrency. To the moon!

Like many Chinese corporate domains, 500.com only resolves when you add the WWW. in front.