Bithumb Resumes Spin-Off Plans: "Two-Track Growth for Exchange and New Businesses"

Bithumb is once again pursuing a spin-off. The company aims to enhance the competitiveness of its exchange business, while simultaneously accelerating new business initiatives through a more agile and independent structure.

On April 22, Bithumb announced that it had filed a securities registration statement for the spin-off on April 21, and that it would establish a new corporation with the spin-off date set for July 31. Bithumb had postponed the spin-off once last year. However, the plan is being revived to strengthen business focus and growth strategies for each division.

Through this spin-off, the surviving entity, Bithumb, will focus on its core business such as exchange operations to further enhance its competitiveness. The newly established corporation is expected to actively pursue new business ventures and investments, thereby diversifying revenue streams.

Shares of companies related to Bithumb's investment business will be transferred to the new entity, while shares of certain investment affiliates will be transferred after meeting the requirements for a tax-qualified spin-off. Shares of companies related to the exchange business will remain with the surviving entity, Bithumb.

The split ratio between the surviving entity, Bithumb, and the new corporation will be approximately 56 to 44. The spin-off date is July 31. As this is a spin-off, shareholders will receive shares in the new corporation in proportion to their existing holdings. The final decision on the spin-off will be confirmed at an extraordinary shareholders' meeting on June 13.

A Bithumb representative stated, "We will pursue the spin-off more stably than last year, while continuing to actively invest in IT, protect users, and ensure stability, so that we can become a more trusted virtual asset exchange. By ensuring independence and expertise for both the exchange and new businesses, we expect to drive both quantitative and qualitative growth for the company."

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