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Complete financial analysis of BIT Mining Limited (BTCM) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of BIT Mining Limited, a leading company in the Information Technology Services industry within the Technology sector.
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BIT Mining Limited (BTCM)
About BIT Mining Limited
BIT Mining Limited operates as a cryptocurrency mining company. The company operates through three segments: Mining Pool, Data Center, and Cryptocurrency Mining. It operates a cryptocurrency mining data center in Ohio with power capacity of 150 megawatts; and mining pool business, including the domain name and the cryptocurrency wallet of BTC.com, as well as purchases and deploys bitcoin mining machines. The company was formerly known as 500.com Limited and changed its name to BIT Mining Limited in April 2021. BIT Mining Limited was founded in 2001 and is headquartered in Hong Kong.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 43.10M | 650.23M | 1.33B | 3.34M | 5.67M | 18.33M | 19.76M | 1.57M | 15.33M | 93.46M | 42.83M | 27.48M | 36.97M | 23.73M |
| Cost of Revenue | 40.06M | 669.72M | 1.33B | 2.57M | 8.49M | 11.63M | 8.13M | 2.04M | 3.75M | 8.69M | 4.59M | 2.96M | 3.89M | 3.32M |
| Gross Profit | 3.05M | -19.49M | 1.61M | 771.59K | -2.82M | 6.70M | 11.62M | -462.71K | 11.58M | 84.77M | 38.24M | 24.52M | 33.08M | 20.40M |
| Gross Profit Ratio | 7.07% | -3.00% | 0.12% | 23.11% | -49.69% | 36.54% | 58.84% | -29.40% | 75.54% | 90.70% | 89.28% | 89.23% | 89.49% | 85.99% |
| Research & Development | 874.00K | 3.67M | 3.16M | 30.20M | 48.61M | 61.91M | 68.34M | 71.60M | 63.30M | 59.40M | 28.69M | 26.57M | 19.57M | 9.30M |
| General & Administrative | 18.47M | 22.79M | 25.76M | 27.97M | 37.73M | 45.54M | 49.84M | 45.50M | 45.52M | 34.77M | 16.81M | 13.51M | 19.34M | 6.57M |
| Selling & Marketing | 153.00K | 633.00K | 951.00K | 2.56M | 6.07M | 13.44M | 11.79M | 6.47M | 13.40M | 28.03M | 13.96M | 7.34M | 8.35M | 2.15M |
| SG&A | 18.62M | 23.42M | 26.71M | 30.53M | 43.80M | 58.99M | 61.64M | 51.97M | 58.93M | 62.81M | 30.77M | 20.85M | 27.69M | 8.72M |
| Other Expenses | 8.75M | 4.86M | 12.65M | -30.76M | -49.09M | -6.25K | 125.75K | -82.43M | -69.25M | -75.93M | -43.36M | -31.19M | -27.50M | -13.43M |
| Operating Expenses | 28.24M | 31.94M | 42.51M | 29.97M | 43.32M | 56.78M | 65.37M | 51.85M | 58.01M | 60.14M | 28.35M | 20.11M | 26.43M | 8.09M |
| Cost & Expenses | 68.29M | 701.66M | 1.37B | 32.54M | 51.81M | 68.41M | 73.50M | 53.88M | 61.76M | 68.83M | 32.94M | 23.07M | 30.31M | 11.42M |
| Interest Income | 242.00K | 150.00K | 56.00K | 1.39M | 1.92M | 2.23M | 3.15M | 3.44M | 3.17M | 2.74M | 339.59K | 181.36K | 38.66K | 15.38K |
| Interest Expense | 0.00 | 218.00K | 775.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 329.34K | 57.39K | 892.21K | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 12.57M | 34.77M | 21.55M | 7.75M | 11.30M | 9.30M | 6.05M | 2.84M | 1.78M | 1.66M | 1.40M | 165.34K | 607.80K | 518.95K |
| EBITDA | -12.82M | 590.00K | 300.00K | -15.60M | -64.49M | 12.64M | 1.20M | 2.73M | 6.91M | 28.32M | 14.56M | 5.60M | 7.30M | 12.83M |
| EBITDA Ratio | -29.74% | -6.47% | -2.71% | -723.31% | 2.89% | -156.55% | -257.07% | -3,109.29% | -282.49% | 29.28% | 23.88% | 20.38% | 19.75% | 54.07% |
| Operating Income | -25.19M | -182.86M | -40.91M | -29.20M | -11.13M | -71.87M | -53.74M | -52.31M | -46.43M | 24.10M | 9.89M | 3.38M | 6.65M | 12.31M |
| Operating Income Ratio | -58.45% | -28.12% | -3.08% | -874.59% | -196.30% | -392.09% | -272.01% | -3,323.90% | -302.76% | 25.79% | 23.09% | 12.31% | 18.00% | 51.88% |
| Total Other Income/Expenses | -191.00K | -159.02M | -64.23M | -6.37M | -1.98M | -84.06M | -54.12M | -32.66M | -50.39M | 9.19M | -9.65M | 181.36K | 38.66K | 15.38K |
| Income Before Tax | -25.38M | -172.64M | -61.75M | -34.40M | -92.48M | -71.43M | -50.32M | -29.22M | -43.48M | 26.61M | 4.91M | 3.56M | 6.69M | 12.33M |
| Income Before Tax Ratio | -58.89% | -26.55% | -4.65% | -1,030.25% | -1,630.34% | -389.68% | -254.67% | -1,856.41% | -283.51% | 28.47% | 11.47% | 12.97% | 18.10% | 51.95% |
| Income Tax Expense | 0.00 | 8.56M | -242.00K | -559.29K | -1.09M | -2.85M | -1.89M | 440.25K | 6.46M | 1.29M | -12.59M | 2.88M | 4.53M | 6.55M |
| Net Income | -28.71M | -181.20M | -61.51M | -33.84M | -91.39M | -65.66M | -48.57M | -28.75M | -49.89M | 25.32M | 17.50M | 679.77K | 2.16M | 5.77M |
| Net Income Ratio | -66.61% | -27.87% | -4.64% | -1,013.50% | -1,611.09% | -358.22% | -245.83% | -1,826.86% | -325.35% | 27.09% | 40.86% | 2.47% | 5.84% | 24.33% |
| EPS | -2.60 | -20.80 | -9.88 | -7.87 | -21.32 | -15.67 | -11.97 | -6.93 | -12.94 | 7.42 | 7.43 | 0.28 | 0.90 | 3.92 |
| EPS Diluted | -2.60 | -20.80 | -9.88 | -7.87 | -21.32 | -15.67 | -11.90 | -6.93 | -12.94 | 7.09 | 6.77 | 0.26 | 0.84 | 3.85 |
| Weighted Avg Shares Out | 11.02M | 8.71M | 6.22M | 4.30M | 4.29M | 4.19M | 4.06M | 4.15M | 3.86M | 3.40M | 2.38M | 2.40M | 2.40M | 2.40M |
| Weighted Avg Shares Out (Dil) | 11.02M | 8.71M | 6.22M | 4.30M | 4.29M | 4.19M | 4.08M | 4.15M | 3.86M | 3.58M | 2.60M | 2.57M | 2.57M | 2.44M |
BIT Mining Announces Removal of VIE Structure and Disposal of Chinese Lottery Business
HONGKONG, China, July 23, 2021 /PRNewswire/— BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or "the Company"), a leading cryptocurrency mining enterprise, today announced its decision to eliminate its variable interest entity ("VIE") structure and to dispose of its Chinese lottery...
BIT Mining Announces Closing of US$50.0 Million Private Placement
SHENZHEN, China, July 16, 2021 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or the "Company") today announced the closing of its previously announced private placement of 100,000,000 Class A ordinary shares and warrants to purchase up to an...
BIT Mining Announces US$50 Million Private Placement
SHENZHEN, China, July 12, 2021 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or the "Company"), today announced that it has entered into securities purchase agreements with certain institutional and accredited investors ("the Investors") to raise US$50 million in...
Markets Flatten as Bitcoin Dips Below 30K
The Dow had been up nearly 50 points in today's pre-market, but those have evaporated -- on zero economic news this morning other than Bitcoin.
BIT Mining Successfully Delivers Mining Machines to Kazakhstan
SHENZHEN, China, June 21, 2021 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or "the Company"), a leading cryptocurrency mining enterprise, announced today that it had successfully delivered its first batch of mining machines to Kazakhstan. This first batch...
BIT Mining Completes Cash Offer for Shares of Loto Interactive
SHENZHEN, China, June 18, 2021 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or "the Company"), a leading cryptocurrency mining enterprise, today announced that it has completed its cash offer previously announced on March 31, 2021 to acquire at HK$0.75 per...
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BIT Mining Limited Announces to Invest in a Cryptocurrency Mining Data Center in Texas
SHENZHEN, China, May 19, 2021 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or the "Company"), a leading cryptocurrency mining enterprise, today announced that it has entered into a binding investment term sheet (the "Term Sheet") with Dory Creek,...
BIT Mining Limited Announces Unaudited Financial Results For the First Quarter ended March 31, 2021
SHENZHEN, China, May 10, 2021 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining," "the Company," "we," "us," "our company," or "our"), a leading cryptocurrency mining enterprise, today reported its unaudited financial results for the first quarter ended March 31, 2021....
BIT Mining Limited Announces Trading of ADSs under New English Name and New Ticker Symbol
SHENZHEN, China, April 20, 2021 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining Limited" or the "Company"), a leading cryptocurrency mining enterprise, formerly known as 500.com Limited (NYSE: WBAI), today announced that its American Depositary Shares ("ADSs"), each representing the...
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