Bgin Blockchain Ltd.

Our Corporate History In March 2019, we commenced our operations in the cryptocurrency mining business through Bgin Tech Limited, our subsidiary in Hong Kong, which was co-founded by Mr. Qiuhua Li, our director and executive chairman of the board of directors, and Mr. Qingfeng Wu, our director and chief executive officer. In September 2021, we decided to expand our operations to the North American market. On September 10, 2021, Bgin Infrastructure US and Bgin Management were formed in the State of Delaware, through which we conducted our mining business in the State of Nebraska. On March 23, 2022, BGIN BLOCKCHAIN LIMITED was incorporated under the laws of the Cayman Islands as our offshore holding company. From January 2022 to July 2022, in anticipation of our initial public offering, we completed a series of reorganizational steps. In April 2023, we started selling self-designed mining machines to customers under our ICERIVER brand. Such business is conducted in the U.S. through Bgin Mining, in Hong Kong through Bgin Trading and Bgin Trade HK, and in Singapore through Bgin SG. Since September 2023, we have been providing mining pool services, which currently support the mining of KAS. Our mining pool services are mainly conducted through Bgin HK. Since November 2023, we have been offering miner hosting services as an elective, value-added service to customers who purchase selected models of our self-designed mining machines. Hosting services are operated in the U.S. by Bgin Management and Bgin Infrastructure US.