LightInTheBox establishes experimental digital currency mining business in North America

Beijing time, March 15 evening news, LightInTheBox (NYSE:LITB) announced today that it has established an experimental digital cryptocurrency mining operation in North America. Lantingjieshi rose 18% in pre-market trading.

LightInTheBox said that this mining operation consists of a group of powerful GPU-based dedicated computers that participate in the decentralized digital cryptocurrency system and support the system by calculating algorithm results, ultimately obtaining revenue in the form of corresponding digital cryptocurrency.

Quji Guo, Chairman and CEO of LightInTheBox, said: "Establishing an experimental digital cryptocurrency mining business in North America is a step in our strategy to understand and explore blockchain-related technologies and various practical applications. This business will enable us to gain more first-hand experience and better understand the digital cryptocurrency ecosystem and its potential new technologies."

On January 8 this year, LightInTheBox announced that its website LightInTheBox.com and its electronics website miniinthebox.com began accepting Bitcoin payments on January 5, 2018.

On January 18, LightInTheBox announced that it had established a blockchain technology research laboratory to explore and develop blockchain technology platforms and applications for cross-border e-commerce.

Lightinthebox is an online B2C (internal name: L2C, LightInTheBox 2 Customer) that integrates supply chain services in China. The company has a series of suppliers, its own data warehouse and long-term logistics partners. As of 2010, Lightinthebox is the leader of China's cross-border e-commerce platform. In June 2010, Lightinthebox completed the acquisition of 3C e-commerce Oku.com.