BIT Mining
Financials
Estimates*
| CNY | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Revenues | 133m | 5.7m | 3.3m | 9.6b | 4.7b | 2.2b | 412m |
| % growth | 67 % | (96 %) | (41 %) | 288901 % | (51 %) | (54 %) | (81 %) |
| EBITDA | (297m) | <1m | (24.2m) | (261m) | (306m) | (121m) | - |
| % EBITDA margin | (222 %) | 3 % | (723 %) | (3 %) | (6 %) | (6 %) | - |
| Profit | (478m) | (91.0m) | (34.2m) | (424m) | (1.2b) | (209m) | 22.5m |
| % profit margin | (358 %) | (1603 %) | (1023 %) | (4 %) | (26 %) | (10 %) | 5 % |
| EV / revenue | - | - | - | 0.3x | 0.0x | 0.2x | 0.5x |
| EV / EBITDA | - | - | - | -12.1x | -0.4x | -3.4x | - |
| R&D budget | 26.7m | 48.6m | 30.2m | 22.9m | 26.7m | 6.4m | - |
| R&D % of revenue | 20 % | 857 % | 904 % | - | 1 % | - | - |
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | N/A | - | |
N/A | Series A | ||
$20.0m | Convertible | ||
| N/A | N/A | IPO | |
| N/A | $50.0m | Post IPO Equity | |
* | N/A | $16.0m | Post IPO Equity |
* | N/A | $9.3m | Post IPO Equity |
* | N/A | $50.0m | Private Placement VC |
| Total Funding | AUD108m | ||
Recent News about BIT Mining
EditBIT Mining (NYSE: BTCM) is a prominent player in the cryptocurrency mining industry, aiming to create long-term value across the cryptocurrency ecosystem. The company operates in several key areas: cryptocurrency mining, mining pool services, and data center operations. BIT Mining owns BTC.com, one of the world's top blockchain browsers, and runs a comprehensive mining pool business under the same brand, offering multi-currency mining services including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).
BIT Mining serves a diverse range of clients, from individual miners to large-scale institutional investors, providing them with robust and efficient mining solutions. The company operates in the highly competitive and rapidly evolving cryptocurrency market, where technological advancements and market dynamics play crucial roles.
The business model of BIT Mining revolves around generating revenue through mining operations, transaction fees from its mining pool services, and data center hosting fees. By leveraging its advanced technology and strategic acquisitions, the company aims to enhance its mining efficiency and expand its market presence.
Keywords: Cryptocurrency, Mining, Blockchain, BTC.com, Data Center, Multi-currency, Bitcoin, Ethereum, Litecoin, Mining Pool.
