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BTCM

BIT MiningNYSE:BTCM Stock Report

Last Price

US$3.16

Market Cap

US$223.2m

7D

-35.6%

1Y

-76.3%

Updated

23 Jan, 2022

Data

Company Financials
BTCM fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance0/6
Financial Health4/6
Dividends0/6

BTCM Stock Overview

BIT Mining Limited operates as a cryptocurrency mining company.

Price History & Performance

Summary of all time highs, changes and price drops for BIT Mining
Historical stock prices
Current Share PriceUS$3.16
52 Week HighUS$35.00
52 Week LowUS$2.92
Beta1.82
1 Month Change-55.18%
3 Month Change-65.46%
1 Year Change-76.35%
3 Year Change-76.58%
5 Year Change-75.71%
Change since IPO-84.21%

Recent News & Updates

Aug 26

BIT Mining Limited: A Crypto Company With A Lot To Prove

Having shed its legacy non-crypto assets, BIT Mining Limited is a China-based company trying to (paradoxically) make a name for itself in the crypto space. The company's Q2 2021 operating results and Q2 2021 balance sheet are not particularly impressive, and the balance sheet includes ownership of speculative Dogecoin. The company is subject to further crackdowns by the Chinese government and subject to other regulatory risks.

Shareholder Returns

BTCMUS SoftwareUS Market
7D-35.6%-5.5%-6.1%
1Y-76.3%6.1%4.2%

Return vs Industry: BTCM underperformed the US Software industry which returned 6.1% over the past year.

Return vs Market: BTCM underperformed the US Market which returned 4.2% over the past year.

Price Volatility

Is BTCM's price volatile compared to industry and market?
BTCM volatility
BTCM Average Weekly Movement12.5%
Software Industry Average Movement8.7%
Market Average Movement6.7%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.4%

Stable Share Price: BTCM is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 12% a week.

Volatility Over Time: BTCM's weekly volatility has decreased from 19% to 12% over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
200121Xianfeng Yanghttps://www.btcm.group

BIT Mining Limited operates as a cryptocurrency mining company. It holds three hydroelectric cryptocurrency mines with combined electric power capacity of 435MW; 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 Fundamentals Summary

How do BIT Mining's earnings and revenue compare to its market cap?
BTCM fundamental statistics
Market CapUS$223.22m
Earnings (TTM)-US$51.48m
Revenue (TTM)US$854.70m

0.3x

P/S Ratio

-4.3x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BTCM income statement (TTM)
RevenueUS$854.70m
Cost of RevenueUS$854.15m
Gross ProfitUS$554.41k
ExpensesUS$52.03m
Earnings-US$51.48m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-0.73
Gross Margin0.064%
Net Profit Margin-6.02%
Debt/Equity Ratio0%

How did BTCM perform over the long term?

See historical performance and comparison

Valuation

Is BIT Mining undervalued compared to its fair value and its price relative to the market?

1.17x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate BTCM's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate BTCM's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: BTCM is unprofitable, so we can't compare its PE Ratio to the US Software industry average.

PE vs Market: BTCM is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BTCM's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BTCM is good value based on its PB Ratio (1.2x) compared to the US Software industry average (4.7x).


Future Growth

How is BIT Mining forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

17.2%

Forecasted Software industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as BIT Mining has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has BIT Mining performed over the past 5 years?

-7.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BTCM is currently unprofitable.

Growing Profit Margin: BTCM is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: BTCM is unprofitable, and losses have increased over the past 5 years at a rate of 7.8% per year.

Accelerating Growth: Unable to compare BTCM's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BTCM is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (20%).


Return on Equity

High ROE: BTCM has a negative Return on Equity (-28.5%), as it is currently unprofitable.


Financial Health

How is BIT Mining's financial position?


Financial Position Analysis

Short Term Liabilities: BTCM's short term assets ($114.8M) exceed its short term liabilities ($90.4M).

Long Term Liabilities: BTCM's short term assets ($114.8M) exceed its long term liabilities ($995.0K).


Debt to Equity History and Analysis

Debt Level: BTCM is debt free.

Reducing Debt: BTCM had no debt 5 years ago.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: BTCM has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: BTCM has less than a year of cash runway if free cash flow continues to reduce at historical rates of 16.7% each year


Dividend

What is BIT Mining current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate BTCM's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate BTCM's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BTCM's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BTCM's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BTCM's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.1yrs

Average management tenure


CEO

Xianfeng Yang (52 yo)

1.08yrs

Tenure

Mr. Xianfeng Yang has been Chief Executive Officer at BIT Mining Limited (formerly known as 500.com Limited) since December 21, 2020. Mr. Yang has extensive experience in the cryptographic digital virtual...


Leadership Team

Experienced Management: BTCM's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Members

Experienced Board: BTCM's board of directors are considered experienced (6.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 64.3%.


Top Shareholders

Company Information

BIT Mining Limited's employee growth, exchange listings and data sources


Key Information

  • Name: BIT Mining Limited
  • Ticker: BTCM
  • Exchange: NYSE
  • Founded: 2001
  • Industry: Application Software
  • Sector: Software
  • Implied Market Cap: US$223.221m
  • Shares outstanding: 70.64m
  • Website: https://www.btcm.group

Number of Employees


Location

  • BIT Mining Limited
  • 100 Cyberport Road
  • Core F, Cyberport 3
  • Hong Kong
  • Hong Kong

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/23 23:04
End of Day Share Price2022/01/21 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.