BIT Mining Limited BTCM

BIT Mining Limited (NYSE: BTCM) is a leading technology-driven cryptocurrency mining company with diversified operations across cryptocurrency mining, data center management, and mining machine manufacturing. Headquartered in Akron, Ohio, BIT Mining is strategically focused on creating long-term value within the cryptocurrency ecosystem by leveraging cost-efficient data centers and a robust self-mining operation. As of the fourth quarter of 2023, BIT Mining operates with a total hash rate capacity of approximately 56.63 PH/s for Bitcoin and 24,766 GH/s for DOGE/LTC mining. The company’s operations include self-mining, where it produced 21 BTC, 38.3 million DOGE, and 10,615 LTC in Q4 2023. Additionally, BIT Mining generates revenue through its state-of-the-art data centers, which contribute to steady cash flow and profitability. In 2023, BIT Mining reported revenues of $43.1 million, with significant improvements in operational efficiency, resulting in a reduced operating loss of $12.9 million compared to the previous year. The company also made strategic decisions, including the sale of its mining pool business, to focus on its core competencies and drive future growth.BIT Mining continues to enhance its market resilience by utilizing advanced 7-nanometer BTC chips and developing LTC/DOGE and ETC miners.

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