Document:

Exhibit 4.3

 

SERIES B WARRANT TO PURCHASE CLASS A SHARES

REPRESENTED BY AMERICAN DEPOSITARY SHARES

 

BIT
MINING Limited

 

	Warrant Shares: _______	Issue Date: _____________
	 	 
	Warrant ADSs: ________	Initial Exercise Date: _____________

 

THIS
SERIES B WARRANT TO PURCHASE CLASS A SHARES REPRESENTED BY AMERICAN DEPOSITARY SHARES (this “Warrant”) certifies
that, for value received, _____________ or its assigns (the “Holder”) is entitled, upon the terms and subject to the
limitations on exercise and the conditions hereinafter set forth, at any time on or after the date set forth above (the “Initial
Exercise Date”) and on or prior to 5:00 p.m. (New York City time) on _____________ 1 (the “Termination
Date”), but not thereafter, to subscribe for and purchase from BIT Mining Limited, a company established and existing
under the laws of the Cayman Islands (the “Company”), up to ______ Class A Shares
(the “Warrant Shares”) represented by ___ ADSs (such ADSs issuable upon exercise of this Warrant, the “Warrant
ADSs”), as subject to adjustment hereunder. The purchase price of one Warrant ADS shall be equal to the Exercise Price, as
defined in Section 2(b).

 

Section 1.     Definitions.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement
(the “Purchase Agreement”), dated June 23, 2022, among the Company and the purchasers signatory thereto.

 

Section 2.     Exercise.

 

a)            Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on
or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile copy
or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice of
Exercise”). Within the two (2) Trading Days following the date of exercise as aforesaid, the Holder shall deliver the
aggregate Exercise Price for the Warrant ADSs specified in the applicable Notice of Exercise by wire transfer or cashier’s check
drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable
Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee
or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the Holder shall not be required
to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant ADSs available hereunder and the
Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three
(3) Trading Days of the date on which the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant
resulting in purchases of a portion of the total number of Warrant ADSs available hereunder shall have the effect of lowering the outstanding
number of Warrant ADSs purchasable hereunder in an amount equal to the applicable number of Warrant ADSs purchased. The Holder and the
Company shall maintain records showing the number of Warrant ADSs purchased and the date of such purchases. The Company shall deliver
any objection to any Notice of Exercise within one (1) Trading Day of receipt of such notice. The Holder and any assignee, by
acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion
of the Warrant ADSs hereunder, the number of Warrant ADSs available for purchase hereunder at any given time may be less than the amount
stated on the face hereof.

 

 

1
Insert the date that is the 2.5-year anniversary of the Initial Exercise Date, provided that, if such date is not a Trading
Day, insert the immediately following Trading Day.

 

     

     

    

 

b)            Exercise
Price. The exercise price per Warrant ADS under this Warrant shall be $1.00, subject to adjustment hereunder (the “Exercise
Price”).

 

c)            Cashless
Exercise. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained
therein is not available for the issuance of the Warrant ADSs by the Holder, then this Warrant may also be exercised, in whole or in
part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant
ADSs equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A)   =  
as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice
of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both
executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours”
(as defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at
the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise
or (z) the Bid Price of the ADSs on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s
execution of the applicable Notice of Exercise if such Notice of Exercise is executed during “regular trading hours” on a
Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of “regular
trading hours” on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable
Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered
pursuant to Section 2(a) hereof after the close of “regular trading hours” on such Trading Day;

 

(B)   =  
the Exercise Price of this Warrant, as adjusted hereunder; and

 

     

     

    

 

(X)   =  
the number of Warrant ADSs that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such
exercise were by means of a cash exercise rather than a cashless exercise.

 

If Warrant ADSs
are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities
Act, the Warrant ADSs shall take on the registered characteristics of the Warrants being exercised.  The Company agrees not
to take any position contrary to this Section 2(c).

 

“Bid Price”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the ADSs are then listed or
quoted on a Trading Market, the bid price of the ADSs for the time in question (or the nearest preceding date) on the Trading Market
on which the ADSs are then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City
time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average price
of the ADSs for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the ADSs are not then listed or
quoted for trading on OTCQB or OTCQX and if prices for the ADSs are then reported on The Pink Open Market (or a similar organization
or agency succeeding to its functions of reporting prices), the most recent bid price per ADS so reported, or (d) in all other cases,
the fair market value of an ADS as determined by an independent appraiser selected in good faith by the Holders of a majority in interest
of the Securities then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the ADSs are then listed or
quoted on a Trading Market, the daily volume weighted average price of the ADSs for such date (or the nearest preceding date) on the
Trading Market on which the ADSs are then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New
York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average
price of the ADSs for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the ADSs are not then listed
or quoted for trading on OTCQB or OTCQX and if prices for the ADSs are then reported on The Pink Open Market (or a similar organization
or agency succeeding to its functions of reporting prices), the most recent bid price per ADS so reported, or (d) in all other cases,
the fair market value of an ADS as determined by an independent appraiser selected in good faith by the Holders of a majority in interest
of the Securities then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

     

     

    

 

		d)	Mechanics of Exercise.

 

		i.	Delivery
                                            of Warrant ADSs Upon Exercise. Pursuant to Section 2(a), upon receipt by the Company
                                            of the Notice of Exercise, the Company shall cause its registrar to deposit the Warrant Shares
                                            subject to such exercise with the Depositary, and provide instructions to the Depositary
                                            to issue the Warrant ADSs in the form agreed between the Depositary and the Company (the
                                            “Depositary Instructions”). In accordance with the Depositary Instructions
                                            and following receipt by the Depositary of the Warrant Shares and any other documentation
                                            required by the Depositary and the Company’s share registrar to effect the conversion
                                            of Warrant ADSs (including, without limitation, the original share certificate of the Warrant
                                            Shares underlying the Warrant ADSs subject to the exercise and opinions of counsel), the
                                            Company shall cause the Depositary to credit the account of the Holder’s or its designee’s
                                            balance account with The Depository Trust Company through its Deposit or Withdrawal At Custodian
                                            system (“DWAC”) if the Depositary is then a participant in such system
                                            and either (A) there is an effective registration statement permitting the issuance
                                            of the Warrant ADSs to or resale of the Warrant ADSs by the Holder or (B) this Warrant
                                            is being exercised via cashless exercise, and otherwise by physical delivery of a certificate,
                                            registered in the name of the Holder or its designee, for the number of Warrant ADSs to which
                                            the Holder is entitled pursuant to such exercise to the address specified by the Holder in
                                            the Notice of Exercise by the date that is two (2) Trading Days after the delivery to
                                            the Company of the Notice of Exercise (such date, the “Warrant ADS Delivery Date”),
                                            provided, that the Company shall not be obligated to cause the Depositary to deliver the
                                            Warrant ADSs hereunder unless the Company has received the aggregate Exercise Price (other
                                            than in the case of a cashless exercise) on or before the Warrant ADS Delivery Date. The
                                            Warrant Shares represented by the Warrant ADSs shall be deemed to have been issued, and Holder
                                            or any other person so designated to be named therein shall be deemed to have become the
                                            holder of record of such Warrant Shares represented by the Warrant ADSs for all purposes,
                                            as of the date the Warrant has been exercised, irrespective of the date of delivery of the
                                            Warrant Shares, provided that payment of the aggregate Exercise Price (other than in the
                                            case of a cashless exercise) is received by the Warrant ADS Delivery Date. Subject to the
                                            timely delivery by the Holder of any documentation required by the Depositary or the Company’s
                                            share register, if the Company fails for any reason to cause the Depositary to issue and
                                            deliver to the Holder the Warrant ADSs subject to a Notice of Exercise by the Warrant ADS
                                            Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not
                                            as a penalty, for each $1,000 of Warrant ADSs subject to such exercise (based on the highest
                                            VWAP of the ADSs during the period commencing on the date of the applicable Notice of Exercise
                                            until the date that the Warrant ADSs are delivered to the Holder), $10 per Trading Day (increasing
                                            to $20 per Trading Day after the fifth Trading Day after such liquidated damages begin to
                                            accrue) for each Trading Day after the Warrant ADS Delivery Date until such Warrant ADSs
                                            are delivered or Holder rescinds such exercise. The Company agrees to maintain a depositary
                                            and transfer agent that is a participant in the FAST program so long as this Warrant remains
                                            outstanding and exercisable, if applicable.

 

     

     

    

 

		ii.	Delivery
                                            of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the
                                            Company shall, at the request of a Holder and upon surrender of this Warrant certificate,
                                            at the time of delivery of the Warrant ADSs, deliver to the Holder a new Warrant evidencing
                                            the rights of the Holder to purchase the unpurchased Warrant ADSs called for by this Warrant,
                                            which new Warrant shall in all other respects be identical with this Warrant.

 

		iii.	Rescission
                                            Rights. If the Company fails to cause the Depositary to transmit to the Holder the Warrant
                                            ADSs pursuant to Section 2(d)(i) by the Warrant ADS Delivery Date, then the Holder
                                            will have the right to rescind such exercise.

 

		iv.	Compensation
                                            for Buy-In on Failure to Timely Deliver Warrant ADSs Upon Exercise. In addition to any
                                            other rights available to the Holder, subject to the timely delivery by the Holder of any
                                            documentation required by the Depositary or the Company’s share registrar, if the Company
                                            fails to cause the Depositary to transmit to the Holder the Warrant ADSs in accordance with
                                            the provisions of Section 2(d)(i) above pursuant to an exercise on or before the
                                            first (1st) Trading Day following the Warrant ADS Delivery Date, and if after
                                            such date the Holder is required by its broker to purchase (in an open market transaction
                                            or otherwise) or the Holder’s brokerage firm otherwise purchases, ADSs to deliver in
                                            satisfaction of a sale by the Holder of the Warrant ADSs which the Holder anticipated receiving
                                            upon such exercise (a “Buy-In”), then the Company shall (A) pay in
                                            cash to the Holder the amount, if any, by which (x) the Holder’s total purchase
                                            price (including brokerage commissions, if any) for the ADSs so purchased exceeds (y) the
                                            amount obtained by multiplying (1) the number of Warrant ADSs that the Company was required
                                            to deliver to the Holder in connection with the exercise at issue times (2) the price
                                            at which the sell order giving rise to such purchase obligation was executed, and (B) at
                                            the option of the Holder, either reinstate the portion of the Warrant and equivalent number
                                            of Warrant ADSs for which such exercise was not honored (in which case such exercise shall
                                            be deemed rescinded) or deliver to the Holder the number of ADSs that would have been issued
                                            had the Company timely complied with its exercise and delivery obligations hereunder. For
                                            example, if the Holder purchases ADSs having a total purchase price of $11,000 to cover a
                                            Buy-In with respect to an attempted exercise of ADSs with an aggregate sale price giving
                                            rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding
                                            sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide
                                            the Company written notice indicating the amounts payable to the Holder in respect of the
                                            Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein
                                            shall limit a Holder’s right to pursue any other remedies available to it hereunder,
                                            at law or in equity including, without limitation, a decree of specific performance and/or
                                            injunctive relief with respect to the Company’s failure to timely deliver ADSs upon
                                            exercise of the Warrant as required pursuant to the terms hereof.

 

     

     

    

 

		v.	No
                                            Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares
                                            shall be issued upon the exercise of this Warrant. As to any fraction of a share which the
                                            Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at
                                            its election, either pay a cash adjustment in respect of such final fraction in an amount
                                            equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

 

		vi.	Charges,
                                            Taxes and Expenses. Issuance of Warrant ADSs shall be made without charge to the Holder
                                            for any issue or transfer tax, stamp and similar tax or other incidental costs and expenses
                                            (including, without limitation, fees and expenses of the Depositary) in respect of the issuance
                                            of such Warrant ADSs, all of which taxes and expenses shall be paid by the Company, and such
                                            Warrant ADSs shall be issued in the name of the Holder or in such name or names as may be
                                            directed by the Holder; provided, however, that, in the event that Warrant
                                            ADSs are to be issued in a name other than the name of the Holder, this Warrant when surrendered
                                            for exercise shall be accompanied by the Assignment Form attached hereto duly executed
                                            by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient
                                            to reimburse it for any transfer tax incidental thereto. The Company shall pay all fees of
                                            the Depositary required for same-day processing of any Notice of Exercise and all fees to
                                            the Depository Trust Company (or another established clearing corporation performing similar
                                            functions) required for same-day electronic delivery of the Warrant ADSs.

 

		vii.	Closing
                                            of Books. The Company will not close its stockholder books or records in any manner which
                                            prevents the timely exercise of this Warrant, pursuant to the terms hereof.

 

     

     

    

 

e)            Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise
any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise
as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting
as a group together with the Holder or any of the Holder’s Affiliates (such Persons, the “Attribution Parties”)),
would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence,
the number of Class A Shares beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number
of Class A Shares issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude
the number of Class A Shares which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant
beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised
or nonconverted portion of any other securities of the Company (including, without limitation, any other Ordinary Share Equivalents)
subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any
of its Affiliates or Attribution Parties.  Except as set forth in the preceding sentence, for purposes of this Section 2(e),
beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation
is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to
be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e) applies, the determination
of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution
Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice
of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation to other securities
owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable, in each
case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such
determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of
the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(e), in determining the
number of outstanding Class A Shares, a Holder may rely on the number of outstanding Class A Shares as reflected in (A) the
Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public announcement
by the Company or (C) a more recent written notice by the Company setting forth the number of Class A Shares outstanding. 
Upon the written or oral request of a Holder, the Company shall within one (1) Trading Day confirm orally and in writing to the
Holder the number of Class A Shares then outstanding.  In any case, the number of outstanding Class A Shares shall be
determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its
Affiliates or Attribution Parties since the date as of which such number of outstanding Class A Shares was reported. The “Beneficial
Ownership Limitation” shall be [4.99%/9.99%] of the number of Class A Shares outstanding immediately after giving effect
to the issuance of Class A Shares issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or
decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation
in no event exceeds 9.99% of the number of Class A Shares outstanding immediately after giving effect to the issuance of Class A
Shares upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any
increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to
the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with
the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with
the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give
effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

     

     

    

 

f)            Intentionally
Omitted

 

Section 3.     Certain
Adjustments.

 

a)            Share
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a share dividend or otherwise
makes a distribution or distributions on its Class A Shares or ADSs or any other equity or equity equivalent securities payable
in Class A Shares or ADSs (which, for avoidance of doubt, shall not include any ADSs issued by the Company upon exercise of this
Warrant), as applicable, (ii) subdivides outstanding Class A Shares or ADSs into a larger number of shares or ADSs, as applicable,
(iii) combines (including by way of reverse share split) outstanding Class A Shares or ADSs into a smaller number of shares
or ADSs, as applicable, or (iv) issues by reclassification of Class A Shares, ADSs or any capital share of the Company, as
applicable, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of Class A
Shares or ADSs, as applicable, (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator
shall be the number of Class A Shares or ADSs, as applicable, outstanding immediately after such event, and the number of shares
issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall
remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date
for the determination of shareholders entitled to receive such dividend or distribution and shall become effective immediately after
the effective date in the case of a subdivision, combination or re-classification.

 

b)            [RESERVED]

 

c)            Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues
or sells any Ordinary Share Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders
of any class of Class A Shares or ADSs (the “Purchase Rights”), then the Holder will be entitled to acquire,
upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had
held the number of Class A Shares or ADSs acquirable upon complete exercise of this Warrant (without regard to any limitations on
exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is
taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders
of Class A Shares or ADSs are to be determined for the grant, issue or sale of such Purchase Rights (provided, however,
that, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the
Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial
ownership of such Class A Shares or ADSs as a result of such Purchase Right to such extent) and such Purchase Right to such extent
shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the
Beneficial Ownership Limitation).

 

     

     

    

 

d)            Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution
of its assets (or rights to acquire its assets) to holders of Class A Shares or ADSs, by way of return of capital or otherwise (including,
without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification,
corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after
the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent
that the Holder would have participated therein if the Holder had held the number of Class A Shares or ADSs acquirable upon complete
exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership
Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as
of which the record holders of Class A Shares or ADSs are to be determined for the participation in such Distribution (provided,
however, that, to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding
the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in
the beneficial ownership of any Class A Shares or ADSs as a result of such Distribution to such extent) and the portion of such
Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result
in the Holder exceeding the Beneficial Ownership Limitation).

 

     

     

    

 

e)            Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in
one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which holders of Class A Shares (including Class A Shares underlying
ADSs) are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders
of 50% or more of the outstanding Class A Shares (including Class A Shares underlying ADSs) or 50% or more of the voting power
of the common equity of the Company, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification,
reorganization or recapitalization of the Class A Shares (including Class A Shares underlying ADSs) or any compulsory share
exchange pursuant to which the Class A Shares (including Class A Shares underlying ADSs) is effectively converted into or exchanged
for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates
a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization,
spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than
50% of the outstanding Class A Shares (including Class A Shares underlying ADSs) or 50% or more of the voting power of the
common equity of the Company (not including any Class A Shares (including Class A Shares underlying ADSs) held by the other
Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share
purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent exercise
of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise
immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in
Section 2(e) on the exercise of this Warrant), the number of Class A Shares (including Class A Shares underlying
ADSs) of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration
(the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of Class A
Shares (including Class A Shares underlying ADSs) for which this Warrant is exercisable immediately prior to such Fundamental Transaction
(without regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise, the
determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate
Consideration issuable in respect of one Class A Share (including Class A Shares underlying ADSs) in such Fundamental Transaction,
and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value
of any different components of the Alternate Consideration. If holders of Class A Shares (including Class A Shares underlying
ADSs) are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall
be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction.
Notwithstanding anything to the contrary, in the event of a Fundamental Transaction, the Company or any Successor Entity (as defined
below) shall, at the Holder’s option, exercisable at any time concurrently with, or within 30 days after, the consummation of the
Fundamental Transaction (or, if later, the date of the public announcement of the applicable Fundamental Transaction), purchase this
Warrant from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value (as defined below) of the remaining
unexercised portion of this Warrant on the date of the consummation of such Fundamental Transaction; provided, however,
that, if the Fundamental Transaction is not within the Company’s control, including not approved by the Company’s Board of
Directors, Holder shall only be entitled to receive from the Company or any Successor Entity the same type or form of consideration (and
in the same proportion), at the Black Scholes Value of the unexercised portion of this Warrant, that is being offered and paid to the
holders of Class A Shares (including Class A Shares underlying ADSs) in connection with the Fundamental Transaction, whether
that consideration be in the form of cash, stock or any combination thereof, or whether the holders of Class A Shares (including
Class A Shares underlying ADSs) are given the choice to receive from among alternative forms of consideration in connection with
the Fundamental Transaction; provided, further, that if holders of Class A Shares (including Class A Shares underlying
ADSs) are not offered or paid any consideration in such Fundamental Transaction, such holders of Class A Shares (including Class A
Shares underlying ADSs) will be deemed to have received common stock of the Successor Entity (which Entity may be the Company following
such Fundamental Transaction) in such Fundamental Transaction. “Black Scholes Value” means the value of this Warrant
based on the Black-Scholes Option Pricing Model obtained from the “OV” function on Bloomberg determined as of the day of
consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding
to the U.S. Treasury rate for a period equal to the time between the date of the public announcement of the applicable Fundamental Transaction
and the Termination Date, (B) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT
function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading Day immediately following the public announcement
of the applicable Fundamental Transaction, (C) the underlying price per share used in such calculation shall be the greater of (i) the
sum of the price per share being offered in cash, if any, plus the value of any non-cash consideration, if any, being offered in such
Fundamental Transaction and (ii) the highest VWAP during the period beginning on the Trading Day immediately preceding the announcement
of the applicable Fundamental Transaction (or the consummation of the applicable Fundamental Transaction, if earlier) and ending on the
Trading Day of the Holder’s request pursuant to this Section 3(e) and (D) a remaining option time equal to the time
between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date and (E) a zero cost
of borrow. The payment of the Black Scholes Value will be made by wire transfer of immediately available funds (or such other consideration)
within the later of (i) five Business Days of the Holder’s election and (ii) the date of consummation of the Fundamental
Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the
 “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant and the other Transaction
Documents in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance reasonably
satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at
the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written
instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital
stock of such Successor Entity (or its parent entity) equivalent to the Class A Shares (including Class A Shares underlying
ADSs) acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior
to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock
(but taking into account the relative value of the Class A Shares (including Class A Shares underlying ADSs) pursuant to such
Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price
being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction),
and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the
Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions
of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity),
and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the
other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein.

 

     

     

    

 

f)            Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of an ADS, as the case may be. For
purposes of this Section 3, the number of Class A Shares or ADSs, as applicable deemed to be issued and outstanding as of a
given date shall be the sum of the number of Class A Shares or ADSs, as applicable (excluding treasury shares, if any) issued and
outstanding.

 

g)            Notice
to Holder.

 

i.            Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment
to the number of Warrant ADSs and setting forth a brief statement of the facts requiring such adjustment.

 

ii.            Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Class A Shares or ADSs, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Class A
Shares or ADSs, (C) the Company shall authorize the granting to all holders of the Class A Shares or ADSs rights or warrants
to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any shareholders of
the Company shall be required in connection with any reclassification of the Class A Shares or ADSs, any consolidation or merger
to which the Company (or any of its Subsidiaries) is a party, any sale or transfer of all or substantially all of the assets of the Company,
or any compulsory share exchange whereby the Class A Shares or ADSs are converted into other securities, cash or property, or (E) the
Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each
case, the Company shall cause to be delivered by facsimile or email to the Holder at its last facsimile number or email address as it
shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter
specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption,
rights or warrants, or if a record is not to be taken, the date as of which the holders of the Class A Shares or ADSs of record
to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such
reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of
which it is expected that holders of the Class A Shares or ADSs of record shall be entitled to exchange their Class A Shares
or ADSs for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share
exchange; provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity
of the corporate action required to be specified in such notice. To the extent that any notice provided in this Warrant constitutes,
or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file
such notice with the Commission pursuant to a Report on Form 6-K. The Holder shall remain entitled to exercise this Warrant during
the period commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be
expressly set forth herein

 

     

     

    

 

h)            Voluntary
Adjustment By Company. Subject to the rules and regulations of the Trading Market, the Company may at any time during the term
of this Warrant, subject to the prior written consent of the Holder, reduce the then current Exercise Price to any amount and for any
period of time deemed appropriate by the Board of Directors of the Company.

 

Section 4.     Transfer
of Warrant.

 

a)            Transferability.
Subject to compliance with any applicable securities laws and to the provisions of Section 4.1 of the Purchase Agreement, this Warrant
and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender
of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially
in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable
upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant
or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument
of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant
shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender
this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant
to the Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning
this Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of
Warrant ADSs without having a new Warrant issued.

 

b)            New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company,
together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or
its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination,
the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in
accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Issue Date of this Warrant and shall be
identical with this Warrant except as to the number of Warrant ADSs issuable pursuant thereto.

 

c)            Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder
of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other
purposes, absent actual notice to the contrary.

 

     

     

    

 

Section 5.     Miscellaneous.

 

a)            No
Rights as Shareholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights, dividends
or other rights as a shareholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly
set forth in Section 3. Without limiting any rights of a Holder to receive Warrant ADSs on a “cashless exercise” pursuant
to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in
no event shall the Company be required to net cash settle an exercise of this Warrant.

 

b)            Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory
to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant ADSs, and in case
of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include
the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make
and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

c)            Saturdays,
Sundays, Holidays, etc. Other than with respect to a day that is specifically referred to herein as a Trading Day, if the last
or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day,
then such action may be taken or such right may be exercised on the next succeeding Business Day.

 

d)            Authorized
Shares.

 

The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Class A Shares a sufficient
number of shares to provide for the issuance of the Warrant ADSs and underlying Class A Shares upon the exercise of any purchase
rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of issuing the necessary Warrant ADSs upon the exercise of the purchase rights under this Warrant. The
Company will take all such reasonable action as may be necessary to assure that such Warrant ADSs may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the ADSs may be listed. The Company
covenants that all Warrant Shares underlying the Warrant ADSs which may be issued upon the exercise of the purchase rights represented
by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant ADSs in accordance
herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the
Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).

 

     

     

    

 

Except and to the
extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its articles
of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or
any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all
times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate
to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the
Company will (i) not increase the par value of any Warrant Shares underlying the Warrant ADSs above the amount payable therefor
upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares underlying the Warrant ADSs upon
the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents
from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under
this Warrant.

 

Before taking any
action which would result in an adjustment in the number of Warrant ADSs for which this Warrant is exercisable or in the Exercise Price,
the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory
body or bodies having jurisdiction thereof.

 

e)            Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the provisions of the Purchase Agreement.

 

f)            Restrictions.
The Holder acknowledges that the Warrant ADSs acquired upon the exercise of this Warrant, if not registered, and the Holder does not
utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g)            Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as
a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision of
this Warrant or the Purchase Agreement, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which
results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs
and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the
Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

h)            Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
in accordance with the notice provisions of the Purchase Agreement.

 

     

     

    

 

i)            Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant
ADSs, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase
price of any Class A Shares or ADS or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors
of the Company.

 

j)            Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific
performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss
incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any
action for specific performance that a remedy at law would be adequate.

 

k)            Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the
benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder.
The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable
by the Holder or holder of Warrant ADSs.

 

l)            Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

m)            Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the
extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

 

n)            Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this
Warrant.

 

********************

 

(Signature Page Follows)

 

     

     

    

 

IN WITNESS WHEREOF, the Company
has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

	 	BIT Mining
    limited
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

     

     

    

 

NOTICE OF EXERCISE

 

To:     bit
mining ltd.

 

(1)            The
undersigned hereby elects to purchase ________ Warrant ADSs of the Company pursuant to the terms of the attached Warrant (only if exercised
in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2)            Payment
shall take the form of (check applicable box):

 

 ̈
in lawful money of the United States; or

 

 ̈
if permitted the cancellation of such number of Warrant ADSs as is necessary, in accordance with the formula set forth in subsection
2(c), to exercise this Warrant with respect to the maximum number of Warrant ADSs purchasable pursuant to the cashless exercise procedure
set forth in subsection 2(c).

 

(3)            Please
register and issue said Warrant ADSs in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

The Warrant ADSs shall be delivered to the following
DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

	Name of Investing Entity:	 

 

	Signature of Authorized Signatory of Investing Entity:	 

 

	Name of Authorized Signatory:	 

 

	Title of Authorized Signatory:	 

 

	Date:	 

 

     

     

    

 

EXHIBIT B

 

ASSIGNMENT FORM

 

(To assign the foregoing Warrant, execute
this form and supply required information. Do not use this form to exercise the Warrant to purchase Warrant ADSs.)

 

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced
thereby are hereby assigned to

 

	Name:	 
	 	(Please Print)
	 	 
	Address:	 
	 	(Please Print)

	 	 
	Phone Number:	 
	 	 
	Email Address:	 
	 	 
	Dated: ____________________
    _, ______	 
	 	 
	Holder’s Signature: _____________________	 
	 	 
	Holder’s Address: ______________________Exhibit 4.4

 

Placement
Agent WARRANT TO PURCHASE CLASS A SHARES

REPRESENTED BY AMERICAN DEPOSITARY SHARES

 

BIT
MINING Limited

 

	Warrant Shares: _______	Issue Date: _______
	 	 
	Warrant ADSs: _______	Initial Exercise Date: _______

 

THIS
Placement Agent WARRANT TO PURCHASE CLASS A SHARES REPRESENTED BY AMERICAN DEPOSITARY
SHARES (this “Warrant”) certifies that, for value received, _______or its assigns (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after
the date set forth above (the “Initial Exercise Date”) and on or prior to 5:00 p.m. (New York City time) on _______(the “Termination Date”), but not thereafter, to subscribe for and purchase from BIT Mining Limited, a company
established and existing under the laws of the Cayman Islands (the “Company”), up to
_______Class A Shares (the “Warrant Shares”) represented by _______ADSs (such ADSs issuable upon exercise of
this Warrant, the “Warrant ADSs”), as subject to adjustment hereunder. The purchase price of one Warrant ADS shall
be equal to the Exercise Price, as defined in Section 2(b). This Warrant is being issued pursuant to that certain engagement letter,
dated as of June 10, 2022, by and between the Company and H.C. Wainwright & Co., LLC.

 

Section 1.     Definitions.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement
(the “Purchase Agreement”), dated June 23, 2022, among the Company and the purchasers signatory thereto.

 

Section 2.     Exercise.

 

a)            Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on
or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile copy
or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice of
Exercise”). Within the two (2) Trading Days following the date of exercise as aforesaid, the Holder shall deliver the
aggregate Exercise Price for the Warrant ADSs specified in the applicable Notice of Exercise by wire transfer or cashier’s check
drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable
Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee
or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the Holder shall not be required
to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant ADSs available hereunder and the
Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three
(3) Trading Days of the date on which the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant
resulting in purchases of a portion of the total number of Warrant ADSs available hereunder shall have the effect of lowering the outstanding
number of Warrant ADSs purchasable hereunder in an amount equal to the applicable number of Warrant ADSs purchased. The Holder and the
Company shall maintain records showing the number of Warrant ADSs purchased and the date of such purchases. The Company shall deliver
any objection to any Notice of Exercise within one (1) Trading Day of receipt of such notice. The Holder and any assignee, by
acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion
of the Warrant ADSs hereunder, the number of Warrant ADSs available for purchase hereunder at any given time may be less than the amount
stated on the face hereof.

 

     

     

    

 

b)            Exercise
Price. The exercise price per Warrant ADS under this Warrant shall be $1.25, subject to adjustment hereunder (the “Exercise
Price”).

 

c)            Cashless
Exercise. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained
therein is not available for the issuance of the Warrant ADSs by the Holder, then this Warrant may also be exercised, in whole or in
part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant
ADSs equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A)   =  
as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such
Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading
Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of
 “regular trading hours” (as defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal securities
laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding
the date of the applicable Notice of Exercise or (z) the Bid Price of the ADSs on the principal Trading Market as reported by
Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise if such Notice of Exercise is
executed during “regular trading hours” on a Trading Day and is delivered within two (2) hours thereafter
(including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant to
Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of
Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after
the close of “regular trading hours” on such Trading Day;

 

(B)   =  
the Exercise Price of this Warrant, as adjusted hereunder; and

 

     

     

    

 

(X)   =  
the number of Warrant ADSs that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such
exercise were by means of a cash exercise rather than a cashless exercise.

 

If
Warrant ADSs are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of
the Securities Act, the Warrant ADSs shall take on the registered characteristics of the Warrants being exercised.  The Company
agrees not to take any position contrary to this Section 2(c).

 

“Bid Price”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the ADSs are then listed or
quoted on a Trading Market, the bid price of the ADSs for the time in question (or the nearest preceding date) on the Trading Market
on which the ADSs are then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City
time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average price
of the ADSs for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the ADSs are not then listed or
quoted for trading on OTCQB or OTCQX and if prices for the ADSs are then reported on The Pink Open Market (or a similar organization
or agency succeeding to its functions of reporting prices), the most recent bid price per ADS so reported, or (d) in all other cases,
the fair market value of an ADS as determined by an independent appraiser selected in good faith by the Holders of a majority in interest
of the Securities then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the ADSs are then listed or
quoted on a Trading Market, the daily volume weighted average price of the ADSs for such date (or the nearest preceding date) on the
Trading Market on which the ADSs are then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New
York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average
price of the ADSs for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the ADSs are not then listed
or quoted for trading on OTCQB or OTCQX and if prices for the ADSs are then reported on The Pink Open Market (or a similar organization
or agency succeeding to its functions of reporting prices), the most recent bid price per ADS so reported, or (d) in all other cases,
the fair market value of an ADS as determined by an independent appraiser selected in good faith by the Holders of a majority in interest
of the Securities then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

     

     

    

 

		d)	Mechanics of Exercise.

 

		i.	Delivery
                                            of Warrant ADSs Upon Exercise. Pursuant to Section 2(a), upon receipt by the Company
                                            of the Notice of Exercise, the Company shall cause its registrar to deposit the Warrant Shares
                                            subject to such exercise with the Depositary, and provide instructions to the Depositary
                                            to issue the Warrant ADSs in the form agreed between the Depositary and the Company (the
                                            “Depositary Instructions”). In accordance with the Depositary Instructions
                                            and following receipt by the Depositary of the Warrant Shares and any other documentation
                                            required by the Depositary and the Company’s share registrar to effect the conversion
                                            of Warrant ADSs (including, without limitation, the original share certificate of the Warrant
                                            Shares underlying the Warrant ADSs subject to the exercise and opinions of counsel), the
                                            Company shall cause the Depositary to credit the account of the Holder’s or its designee’s
                                            balance account with The Depository Trust Company through its Deposit or Withdrawal At Custodian
                                            system (“DWAC”) if the Depositary is then a participant in such system
                                            and either (A) there is an effective registration statement permitting the issuance
                                            of the Warrant ADSs to or resale of the Warrant ADSs by the Holder or (B) this Warrant
                                            is being exercised via cashless exercise, and otherwise by physical delivery of a certificate,
                                            registered in the name of the Holder or its designee, for the number of Warrant ADSs to which
                                            the Holder is entitled pursuant to such exercise to the address specified by the Holder in
                                            the Notice of Exercise by the date that is two (2) Trading Days after the delivery to
                                            the Company of the Notice of Exercise (such date, the “Warrant ADS Delivery Date”),
                                            provided, that the Company shall not be obligated to cause the Depositary to deliver the
                                            Warrant ADSs hereunder unless the Company has received the aggregate Exercise Price (other
                                            than in the case of a cashless exercise) on or before the Warrant ADS Delivery Date. The
                                            Warrant Shares represented by the Warrant ADSs shall be deemed to have been issued, and Holder
                                            or any other person so designated to be named therein shall be deemed to have become the
                                            holder of record of such Warrant Shares represented by the Warrant ADSs for all purposes,
                                            as of the date the Warrant has been exercised, irrespective of the date of delivery of the
                                            Warrant Shares, provided that payment of the aggregate Exercise Price (other than in the
                                            case of a cashless exercise) is received by the Warrant ADS Delivery Date. Subject to the
                                            timely delivery by the Holder of any documentation required by the Depositary or the Company’s
                                            share register, if the Company fails for any reason to cause the Depositary to issue and
                                            deliver to the Holder the Warrant ADSs subject to a Notice of Exercise by the Warrant ADS
                                            Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not
                                            as a penalty, for each $1,000 of Warrant ADSs subject to such exercise (based on the highest
                                            VWAP of the ADSs during the period commencing on the date of the applicable Notice of Exercise
                                            until the date that the Warrant ADSs are delivered to the Holder), $10 per Trading Day (increasing
                                            to $20 per Trading Day after the fifth Trading Day after such liquidated damages begin to
                                            accrue) for each Trading Day after the Warrant ADS Delivery Date until such Warrant ADSs
                                            are delivered or Holder rescinds such exercise. The Company agrees to maintain a depositary
                                            and transfer agent that is a participant in the FAST program so long as this Warrant remains
                                            outstanding and exercisable, if applicable.

 

		ii.	Delivery
                                            of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the
                                            Company shall, at the request of a Holder and upon surrender of this Warrant certificate,
                                            at the time of delivery of the Warrant ADSs, deliver to the Holder a new Warrant evidencing
                                            the rights of the Holder to purchase the unpurchased Warrant ADSs called for by this Warrant,
                                            which new Warrant shall in all other respects be identical with this Warrant.

 

     

     

    

 

		iii.	Rescission
                                            Rights. If the Company fails to cause the Depositary to transmit to the Holder the Warrant
                                            ADSs pursuant to Section 2(d)(i) by the Warrant ADS Delivery Date, then the Holder
                                            will have the right to rescind such exercise.

 

		iv.	Compensation for Buy-In on Failure
                                            to Timely Deliver Warrant ADSs Upon Exercise. In addition to any other rights available
                                            to the Holder, subject to the timely delivery by the Holder of any documentation required
                                            by the Depositary or the Company’s share registrar, if the Company fails to cause the
                                            Depositary to transmit to the Holder the Warrant ADSs in accordance with the provisions of
                                            Section 2(d)(i) above pursuant to an exercise on or before the first (1st)
                                            Trading Day following the Warrant ADS Delivery Date, and if after such date the Holder is
                                            required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s
                                            brokerage firm otherwise purchases, ADSs to deliver in satisfaction of a sale by the Holder
                                            of the Warrant ADSs which the Holder anticipated receiving upon such exercise (a “Buy-In”),
                                            then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the
                                            Holder’s total purchase price (including brokerage commissions, if any) for the ADSs
                                            so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant
                                            ADSs that the Company was required to deliver to the Holder in connection with the exercise
                                            at issue times (2) the price at which the sell order giving rise to such purchase obligation
                                            was executed, and (B) at the option of the Holder, either reinstate the portion of the
                                            Warrant and equivalent number of Warrant ADSs for which such exercise was not honored (in
                                            which case such exercise shall be deemed rescinded) or deliver to the Holder the number of
                                            ADSs that would have been issued had the Company timely complied with its exercise and delivery
                                            obligations hereunder. For example, if the Holder purchases ADSs having a total purchase
                                            price of $11,000 to cover a Buy-In with respect to an attempted exercise of ADSs with an
                                            aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of
                                            the immediately preceding sentence the Company shall be required to pay the Holder $1,000.
                                            The Holder shall provide the Company written notice indicating the amounts payable to the
                                            Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount
                                            of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies
                                            available to it hereunder, at law or in equity including, without limitation, a decree of
                                            specific performance and/or injunctive relief with respect to the Company’s failure
                                            to timely deliver ADSs upon exercise of the Warrant as required pursuant to the terms hereof.

 

     

     

    

 

		v.	No
                                            Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares
                                            shall be issued upon the exercise of this Warrant. As to any fraction of a share which the
                                            Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at
                                            its election, either pay a cash adjustment in respect of such final fraction in an amount
                                            equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

 

		vi.	Charges,
                                            Taxes and Expenses. Issuance of Warrant ADSs shall be made without charge to the Holder
                                            for any issue or transfer tax, stamp and similar tax or other incidental costs and expenses
                                            (including, without limitation, fees and expenses of the Depositary) in respect of the issuance
                                            of such Warrant ADSs, all of which taxes and expenses shall be paid by the Company, and such
                                            Warrant ADSs shall be issued in the name of the Holder or in such name or names as may be
                                            directed by the Holder; provided, however, that, in the event that Warrant
                                            ADSs are to be issued in a name other than the name of the Holder, this Warrant when surrendered
                                            for exercise shall be accompanied by the Assignment Form attached hereto duly executed
                                            by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient
                                            to reimburse it for any transfer tax incidental thereto. The Company shall pay all fees of
                                            the Depositary required for same-day processing of any Notice of Exercise and all fees to
                                            the Depository Trust Company (or another established clearing corporation performing similar
                                            functions) required for same-day electronic delivery of the Warrant ADSs.

 

		vii.	Closing
                                            of Books. The Company will not close its stockholder books or records in any manner which
                                            prevents the timely exercise of this Warrant, pursuant to the terms hereof.

 

     

     

    

 

e)            Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise
any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise
as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting
as a group together with the Holder or any of the Holder’s Affiliates (such Persons, the “Attribution Parties”)),
would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence,
the number of Class A Shares beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number
of Class A Shares issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude
the number of Class A Shares which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant
beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised
or nonconverted portion of any other securities of the Company (including, without limitation, any other Ordinary Share Equivalents)
subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any
of its Affiliates or Attribution Parties.  Except as set forth in the preceding sentence, for purposes of this Section 2(e),
beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation
is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to
be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e) applies, the determination
of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution
Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice
of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation to other securities
owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable, in each
case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such
determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of
the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(e), in determining the
number of outstanding Class A Shares, a Holder may rely on the number of outstanding Class A Shares as reflected in (A) the
Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public announcement
by the Company or (C) a more recent written notice by the Company setting forth the number of Class A Shares outstanding. 
Upon the written or oral request of a Holder, the Company shall within one (1) Trading Day confirm orally and in writing to the
Holder the number of Class A Shares then outstanding.  In any case, the number of outstanding Class A Shares shall be
determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its
Affiliates or Attribution Parties since the date as of which such number of outstanding Class A Shares was reported. The “Beneficial
Ownership Limitation” shall be 4.99% of the number of Class A Shares outstanding immediately after giving effect to the
issuance of Class A Shares issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease
the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event
exceeds 9.99% of the number of Class A Shares outstanding immediately after giving effect to the issuance of Class A Shares
upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any increase
in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company.
The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of
this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended
Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to
such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

     

     

    

 

f)            Intentionally
Omitted

 

Section 3.     Certain
Adjustments.

 

a)            Share
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a share dividend or otherwise
makes a distribution or distributions on its Class A Shares or ADSs or any other equity or equity equivalent securities payable
in Class A Shares or ADSs (which, for avoidance of doubt, shall not include any ADSs issued by the Company upon exercise of this
Warrant), as applicable, (ii) subdivides outstanding Class A Shares or ADSs into a larger number of shares or ADSs, as applicable,
(iii) combines (including by way of reverse share split) outstanding Class A Shares or ADSs into a smaller number of shares
or ADSs, as applicable, or (iv) issues by reclassification of Class A Shares, ADSs or any capital share of the Company, as
applicable, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of Class A
Shares or ADSs, as applicable, (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator
shall be the number of Class A Shares or ADSs, as applicable, outstanding immediately after such event, and the number of shares
issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall
remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date
for the determination of shareholders entitled to receive such dividend or distribution and shall become effective immediately after
the effective date in the case of a subdivision, combination or re-classification.

 

b)            [RESERVED]

 

c)            Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues
or sells any Ordinary Share Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders
of any class of Class A Shares or ADSs (the “Purchase Rights”), then the Holder will be entitled to acquire,
upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had
held the number of Class A Shares or ADSs acquirable upon complete exercise of this Warrant (without regard to any limitations on
exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is
taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders
of Class A Shares or ADSs are to be determined for the grant, issue or sale of such Purchase Rights (provided, however,
that, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the
Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial
ownership of such Class A Shares or ADSs as a result of such Purchase Right to such extent) and such Purchase Right to such extent
shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the
Beneficial Ownership Limitation).

 

     

     

    

 

d)            Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend (other than
cash) or other distribution of its assets (or rights to acquire its assets) to holders of Class A Shares or ADSs, by way of return
of capital or otherwise (including, without limitation, any distribution of stock or other securities, property or options by way of
a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of Class A Shares or ADSs acquirable
upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial
Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the
date as of which the record holders of Class A Shares or ADSs are to be determined for the participation in such Distribution (provided,
however, that, to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding
the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in
the beneficial ownership of any Class A Shares or ADSs as a result of such Distribution to such extent) and the portion of such
Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result
in the Holder exceeding the Beneficial Ownership Limitation).

 

     

     

    

 

e)            Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in
one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which holders of Class A Shares (including Class A Shares underlying
ADSs) are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders
of 50% or more of the outstanding Class A Shares (including Class A Shares underlying ADSs) or 50% or more of the voting power
of the common equity of the Company, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification,
reorganization or recapitalization of the Class A Shares (including Class A Shares underlying ADSs) or any compulsory share
exchange pursuant to which the Class A Shares (including Class A Shares underlying ADSs) is effectively converted into or exchanged
for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates
a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization,
spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than
50% of the outstanding Class A Shares (including Class A Shares underlying ADSs) or 50% or more of the voting power of the
common equity of the Company (not including any Class A Shares (including Class A Shares underlying ADSs) held by the other
Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share
purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent exercise
of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise
immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in
Section 2(e) on the exercise of this Warrant), the number of Class A Shares (including Class A Shares underlying
ADSs) of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration
(the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of Class A
Shares (including Class A Shares underlying ADSs) for which this Warrant is exercisable immediately prior to such Fundamental Transaction
(without regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise, the
determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate
Consideration issuable in respect of one Class A Share (including Class A Shares underlying ADSs) in such Fundamental Transaction,
and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value
of any different components of the Alternate Consideration. If holders of Class A Shares (including Class A Shares underlying
ADSs) are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall
be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction.
Notwithstanding anything to the contrary, in the event of a Fundamental Transaction, the Company or any Successor Entity (as defined
below) shall, at the Holder’s option, exercisable at any time concurrently with, or within 30 days after, the consummation of the
Fundamental Transaction (or, if later, the date of the public announcement of the applicable Fundamental Transaction), purchase this
Warrant from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value (as defined below) of the remaining
unexercised portion of this Warrant on the date of the consummation of such Fundamental Transaction; provided, however,
that, if the Fundamental Transaction is not within the Company’s control, including not approved by the Company’s Board of
Directors, Holder shall only be entitled to receive from the Company or any Successor Entity the same type or form of consideration (and
in the same proportion), at the Black Scholes Value of the unexercised portion of this Warrant, that is being offered and paid to the
holders of Class A Shares (including Class A Shares underlying ADSs) in connection with the Fundamental Transaction, whether
that consideration be in the form of cash, stock or any combination thereof, or whether the holders of Class A Shares (including
Class A Shares underlying ADSs) are given the choice to receive from among alternative forms of consideration in connection with
the Fundamental Transaction; provided, further, that if holders of Class A Shares (including Class A Shares underlying
ADSs) are not offered or paid any consideration in such Fundamental Transaction, such holders of Class A Shares (including Class A
Shares underlying ADSs) will be deemed to have received common stock of the Successor Entity (which Entity may be the Company following
such Fundamental Transaction) in such Fundamental Transaction. “Black Scholes Value” means the value of this Warrant
based on the Black-Scholes Option Pricing Model obtained from the “OV” function on Bloomberg determined as of the day of
consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding
to the U.S. Treasury rate for a period equal to the time between the date of the public announcement of the applicable Fundamental Transaction
and the Termination Date, (B) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT
function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading Day immediately following the public announcement
of the applicable Fundamental Transaction, (C) the underlying price per share used in such calculation shall be the greater of (i) the
sum of the price per share being offered in cash, if any, plus the value of any non-cash consideration, if any, being offered in such
Fundamental Transaction and (ii) the highest VWAP during the period beginning on the Trading Day immediately preceding the announcement
of the applicable Fundamental Transaction (or the consummation of the applicable Fundamental Transaction, if earlier) and ending on the
Trading Day of the Holder’s request pursuant to this Section 3(e) and (D) a remaining option time equal to the time
between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date and (E) a zero cost
of borrow. The payment of the Black Scholes Value will be made by wire transfer of immediately available funds (or such other consideration)
within the later of (i) five Business Days of the Holder’s election and (ii) the date of consummation of the Fundamental
Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the
 “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant and the other Transaction
Documents in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance reasonably
satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at
the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written
instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital
stock of such Successor Entity (or its parent entity) equivalent to the Class A Shares (including Class A Shares underlying
ADSs) acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior
to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock
(but taking into account the relative value of the Class A Shares (including Class A Shares underlying ADSs) pursuant to such
Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price
being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction),
and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the
Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions
of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity),
and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the
other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein.

 

     

     

    

 

f)            Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of an ADS, as the case may be. For
purposes of this Section 3, the number of Class A Shares or ADSs, as applicable deemed to be issued and outstanding as of a
given date shall be the sum of the number of Class A Shares or ADSs, as applicable (excluding treasury shares, if any) issued and
outstanding.

 

     

     

    

 

g)            Notice
to Holder.

 

i.            Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment
to the number of Warrant ADSs and setting forth a brief statement of the facts requiring such adjustment.

 

ii.            Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Class A Shares or ADSs, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Class A
Shares or ADSs, (C) the Company shall authorize the granting to all holders of the Class A Shares or ADSs rights or warrants
to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any shareholders of
the Company shall be required in connection with any reclassification of the Class A Shares or ADSs, any consolidation or merger
to which the Company (or any of its Subsidiaries) is a party, any sale or transfer of all or substantially all of the assets of the Company,
or any compulsory share exchange whereby the Class A Shares or ADSs are converted into other securities, cash or property, or (E) the
Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each
case, the Company shall cause to be delivered by facsimile or email to the Holder at its last facsimile number or email address as it
shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter
specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption,
rights or warrants, or if a record is not to be taken, the date as of which the holders of the Class A Shares or ADSs of record
to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such
reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of
which it is expected that holders of the Class A Shares or ADSs of record shall be entitled to exchange their Class A Shares
or ADSs for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share
exchange; provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity
of the corporate action required to be specified in such notice. To the extent that any notice provided in this Warrant constitutes,
or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file
such notice with the Commission pursuant to a Report on Form 6-K. The Holder shall remain entitled to exercise this Warrant during
the period commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be
expressly set forth herein

 

     

     

    

 

h)            Voluntary
Adjustment By Company. Subject to the rules and regulations of the Trading Market, the Company may at any time during the term
of this Warrant, subject to the prior written consent of the Holder, reduce the then current Exercise Price to any amount and for any
period of time deemed appropriate by the Board of Directors of the Company.

 

Section 4.     Transfer
of Warrant.

 

a)            Transferability.
Subject to compliance with any applicable securities laws and to the provisions of Section 4.1 of the Purchase Agreement, this Warrant
and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender
of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially
in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable
upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant
or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument
of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant
shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender
this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant
to the Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning
this Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of
Warrant ADSs without having a new Warrant issued.

 

b)            New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company,
together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or
its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination,
the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in
accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Issue Date of this Warrant and shall be
identical with this Warrant except as to the number of Warrant ADSs issuable pursuant thereto.

 

c)            Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder
of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other
purposes, absent actual notice to the contrary.

 

     

     

    

 

Section 5.     Miscellaneous.

 

a)            No
Rights as Shareholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights, dividends
or other rights as a shareholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly
set forth in Section 3. Without limiting any rights of a Holder to receive Warrant ADSs on a “cashless exercise” pursuant
to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in
no event shall the Company be required to net cash settle an exercise of this Warrant.

 

b)            Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory
to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant ADSs, and in case
of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include
the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make
and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

c)            Saturdays,
Sundays, Holidays, etc. Other than with respect to a day that is specifically referred to herein as a Trading Day, if the last
or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day,
then such action may be taken or such right may be exercised on the next succeeding Business Day.

 

d)            Authorized
Shares.

 

The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Class A Shares a sufficient
number of shares to provide for the issuance of the Warrant ADSs and underlying Class A Shares upon the exercise of any purchase
rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of issuing the necessary Warrant ADSs upon the exercise of the purchase rights under this Warrant. The
Company will take all such reasonable action as may be necessary to assure that such Warrant ADSs may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the ADSs may be listed. The Company
covenants that all Warrant Shares underlying the Warrant ADSs which may be issued upon the exercise of the purchase rights represented
by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant ADSs in accordance
herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the
Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).

 

     

     

    

 

Except and to the
extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its articles
of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or
any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all
times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate
to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the
Company will (i) not increase the par value of any Warrant Shares underlying the Warrant ADSs above the amount payable therefor
upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares underlying the Warrant ADSs upon
the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents
from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under
this Warrant.

 

Before taking any
action which would result in an adjustment in the number of Warrant ADSs for which this Warrant is exercisable or in the Exercise Price,
the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory
body or bodies having jurisdiction thereof.

 

e)            Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the provisions of the Purchase Agreement.

 

f)            Restrictions.
The Holder acknowledges that the Warrant ADSs acquired upon the exercise of this Warrant, if not registered, and the Holder does not
utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g)            Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as
a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision of
this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material
damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including,
but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting
any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

h)            Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
to the address for the Holder in the Warrant Register.

 

     

     

    

 

i)            Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant
ADSs, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase
price of any Class A Shares or ADS or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors
of the Company.

 

j)            Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific
performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss
incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any
action for specific performance that a remedy at law would be adequate.

 

k)            Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the
benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder.
The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable
by the Holder or holder of Warrant ADSs.

 

l)            Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

m)            Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the
extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

 

n)            Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this
Warrant.

 

********************

 

(Signature Page Follows)

 

     

     

    

 

IN WITNESS WHEREOF, the Company
has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

	 	BIT
    Mining limited
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:  

 

     

     

    

 

NOTICE OF EXERCISE

 

To:     bit
mining ltd.

 

(1)
The undersigned hereby elects to purchase ________ Warrant ADSs of the Company pursuant to the terms of the attached Warrant (only
if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2)
Payment shall take the form of (check applicable box):

 

 ̈ in
lawful money of the United States; or

 

 ̈ if
permitted the cancellation of such number of Warrant ADSs as is necessary, in accordance with the formula set forth in subsection 2(c),
to exercise this Warrant with respect to the maximum number of Warrant ADSs purchasable pursuant to the cashless exercise procedure set
forth in subsection 2(c).

 

(3)
Please register and issue said Warrant ADSs in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

The Warrant ADSs shall be delivered to the following
DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 
	Name of Investing Entity:	 

	Signature of Authorized Signatory of Investing Entity:	 

	Name of Authorized Signatory:	 

	Title of Authorized Signatory:	 

	Date:	 

 

     

     

    

 

EXHIBIT B

 

ASSIGNMENT FORM

 

(To assign the foregoing Warrant, execute
this form and supply required information. Do not use this form to exercise the Warrant to purchase Warrant ADSs.)

 

FOR VALUE RECEIVED, the foregoing Warrant and
all rights evidenced thereby are hereby assigned to

 

	Name:	
	 	(Please Print)
	 	 
	Address:	
		(Please Print) 
	 	 
	Phone Number:	 
	 	 
	 	 
	Email Address:	 
	 	 
	Dated:
_______________ __, ______	 
	 	 
	Holder’s
Signature:	 	 
	 	 	 
	Holder’s
Address:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00346-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00346-of-00352.parquet"}]]