BTCM Stock Overview
BIT Mining Limited operates as a cryptocurrency mining company.
Price History & Performance
|Historical stock prices|
|Current Share Price||US$3.16|
|52 Week High||US$35.00|
|52 Week Low||US$2.92|
|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
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.
|BTCM||US Software||US Market|
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.
|BTCM Average Weekly Movement||12.5%|
|Software Industry Average Movement||8.7%|
|Market Average Movement||6.7%|
|10% most volatile stocks in US Market||15.5%|
|10% least volatile stocks in US Market||2.4%|
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
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
|BTCM fundamental statistics|
Is BTCM overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|BTCM income statement (TTM)|
|Cost of Revenue||US$854.15m|
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
|Earnings per share (EPS)||-0.73|
|Net Profit Margin||-6.02%|
How did BTCM perform over the long term?See historical performance and comparison
Is BIT Mining undervalued compared to its fair value and its price relative to the market?
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).
How is BIT Mining forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
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.
How has BIT Mining performed over the past 5 years?
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.
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.
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
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.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Xianfeng Yang (52 yo)
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...
Experienced Management: BTCM's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.
Experienced Board: BTCM's board of directors are considered experienced (6.2 years average tenure).
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.
Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 64.3%.
BIT Mining Limited's employee growth, exchange listings and data sources
- 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
- BIT Mining Limited
- 100 Cyberport Road
- Core F, Cyberport 3
- Hong Kong
- Hong Kong
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/01/23 23:04|
|End of Day Share Price||2022/01/21 00:00|
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.