Bithumb Relaunches Spin-off to Boost Competitiveness via Business Split

Virtual asset exchange Bithumb is re-pursuing a spin-off to strengthen business competitiveness and accelerate new business initiatives. Although this spin-off was once postponed last year, it is a strategic decision to respond more agilely to market changes and maximize the specialization of each business unit. Bithumb officially submitted a securities registration statement on the 21st, formalizing the establishment of a new corporation with a spin-off date of July 31st. The final confirmation is scheduled to take place at an extraordinary general meeting of shareholders on June 13th. Through this spin-off, the surviving corporation, Bithumb, plans to focus on core exchange operations, further enhancing its inherent competitiveness. On the other hand, the newly established corporation is expected to actively engage in new business discovery and investment, diversifying its revenue structure and securing future growth engines. Asset allocation is clear. Investment-related assets will be transferred to the new corporation, and some affiliate shares will be transferred after meeting the requirements for a qualified spin-off under tax law. Assets related to exchange operations will remain with the surviving corporation, Bithumb. The spin-off ratio is approximately 56% for the surviving corporation Bithumb and approximately 44% for the new corporation. According to the spin-off method, existing shareholders will be allocated new shares of the new corporation in proportion to their shareholding. A Bithumb official emphasized that this spin-off, in addition to stable progression, will establish Bithumb as a more trustworthy exchange through strengthened IT investment and continuous efforts toward user protection. They also stressed that by securing the independence and specialization of each business, it will drive the company's quantitative and qualitative growth. This demonstrates Bithumb's strong will to secure core drivers for sustained growth in the rapidly changing virtual asset market.