UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE
ISSUER
PURSUANT TO RULE 13a-16
OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2025
Commission File Number: 001-36206
BIT Mining Limited
428 South Seiberling
Street
Akron, Ohio 44306
United States of America
+1 (346) 204-8537
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F
x Form 40-F ¨
EXPLANATORY NOTE
This report on Form 6-K is hereby incorporated by reference into
the Company’s Registration Statement on Form F-3, as amended, initially filed with the U.S. Securities and Exchange Commission
on July 30, 2021 (Registration No. 333-258329), and shall be a part thereof from the date on which this current report is furnished,
to the extent not superseded by documents or reports subsequently filed or furnished.
TABLE OF CONTENTS
Exhibit 99.1 - BIT Mining Limited Announces Unaudited Financial Results for the Fourth Quarter and Full Year ended December 31, 2024
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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BIT MINING LIMITED |
| |
|
|
| |
By: |
/s/ Xianfeng Yang |
| |
Name: |
Xianfeng Yang |
| |
Title: |
Chief Executive Officer |
| |
|
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| Date: February 28, 2025 |
|
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Exhibit 99.1
BIT Mining Limited Announces Unaudited Financial
Results
for
the Fourth Quarter and Full Year ended December 31, 2024
AKRON,
Ohio, February 28, 2025/PRNewswire/—BIT Mining Limited (NYSE: BTCM) (“BIT Mining,” “the Company,”
“we,” “us,” or “our company”), a leading technology-driven cryptocurrency mining company, today reported
its unaudited financial results for the fourth quarter ended December 31, 2024.
On December 9, 2024, the Company completed the
first closing of acquisition of cryptocurrency mining data centers and Bitcoin (“BTC”) mining machines in Ethiopia.
After the first closing of acquisition, the Company acquired 51% equity interests in a cryptocurrency mining data center in Ethiopia (the
“Ethiopia data center”). The acquisition of the Ethiopia data center represents a development strategy to focus
on data center globally and has a major effect on the Company’s results of operations.
Xianfeng Yang, Chief Executive Officer of BIT Mining, commented, “We are pleased to present robust and growth-oriented financial
results for the fourth quarter. Throughout this period, we have implemented a range of initiatives to enhance operational efficiency and
continuously refine our business structure, all of which have produced favorable outcomes. We successfully completed the first closing
of the Ethiopia data center acquisition in December of 2024. The remaining mining facilities under construction are on track to be operational
by mid second quarter of 2025, and the mining equipments we have procured will soon be delivered to the site. These advancements are expected
to generate stronger, more stable revenue streams moving forward. We are confident in our future trajectory and remain fully committed
to pioneering new opportunities that will create lasting value for our shareholders.”
Fourth Quarter 2024 Highlights for Continuing Operations
| · |
Revenues
were US$8.8 million for the fourth quarter of 2024, representing a decrease of US$1.6 million from US$10.4 million for
the fourth quarter of 2023, and an increase of US$4.0 million from US$4.8 million for the third quarter of 2024. |
| · |
Operating
loss was US$2.5 million for the fourth quarter of 2024, representing a significant decrease of US$11.8 million from US$14.3
million for the fourth quarter of 2023, and a decrease of US$2.3 million from US$4.8 million for the third quarter of 2024. |
| · |
Non-GAAP
operating loss1 was US$2.3 million for the fourth quarter of 2024, compared with non-GAAP operating loss of US$4.0
million for the fourth quarter of 2023, and non-GAAP operating loss of US$4.8 million for the third quarter of 2024. |
| · |
Net loss attributable to BIT Mining
was US$2.1 million for the fourth quarter of 2024, compared with net loss attributable to BIT Mining of US$15.5 million for the
fourth quarter of 2023, and net loss attributable to BIT Mining of US$4.8 million for the third quarter of 2024. |
| · |
Non-GAAP
net loss1 attributable to BIT Mining was US$2.0 million for the fourth quarter of 2024, compared with non-GAAP
net loss attributable to BIT Mining of US$4.4 million for the fourth quarter of 2023, and non-GAAP net loss attributable to BIT Mining
of US$4.8 million for the third quarter of 2024. |
| · |
Basic and diluted losses per American
Depositary Share (“ADS”)2 attributable to BIT Mining Limited including from continuing operations and discontinued
operations for the fourth quarter of 2024 were US$0.16. |
| · |
Non-GAAP basic and diluted losses per
ADS2 attributable to BIT Mining Limited including from continuing operations and discontinued operations for the fourth quarter
of 2024 were US$0.16. |
Full Year 2024 Highlights for Continuing Operations
| · |
Revenues
were US$32.9 million for the full year 2024, compared with revenues of US$43.1 million for the full year 2023. |
| · |
Operating
loss was US$7.8 million for the full year 2024, compared with operating loss of US$25.2 million for the full year 2023. |
| · |
Non-GAAP
operating loss1 was US$6.6 million for the full year 2024, compared with non-GAAP operating loss of US$14.2 million
for the full year 2023. |
| · |
Net loss
attributable to BIT Mining was US$6.9 million for the full year 2024, compared with net loss attributable to BIT Mining of
US$25.4 million for the full year 2023. |
| · |
Non-GAAP
net loss1 attributable to BIT Mining was US$6.1 million for the full year 2024, compared with non-GAAP net loss
attributable to BIT Mining of US$13.5 million for the full year 2023. |
| · |
Basic and diluted earnings per ADS2 attributable to BIT
Mining Limited including from continuing operations and discontinued operations for the full year 2024 were US$1.03. |
| · |
Non-GAAP basic and diluted earnings per ADS2 attributable
to BIT Mining Limited including from continuing operations and discontinued operations for the full year 2024 were US$1.09. |
Full Year 2024 Highlights for Discontinued
Operations
| · |
Net income from discontinued operations, net of applicable income taxes
was US$18.9 million for the full year 2024, compared with net loss from discontinued operations, net of applicable income taxes of US$3.3
million for the full year 2023. The year-over-year increase of US$22.2 million was mainly attributable to the gain on disposal of discontinued
operations, net of applicable income taxes of US$18.7 million for the full year 2024. |
1
Non-GAAP financial measures exclude the impact of share-based compensation expenses, legal contingencies, changes in gain
from short-term investments, gain from disposal of long-term investments, impairment of long-term investments and changes in fair value
of derivative instruments. Reconciliations of non-GAAP financial measures to U.S. GAAP financial measures are set forth in the table at
the end of this release.
2
American Depositary Shares, which are traded on the NYSE. Each ADS represents one hundred Class A ordinary shares of the Company.
Fourth Quarter 2024 Financial Results for Continuing Operations
Revenues
Revenues
were mainly comprised of US$5.0 million from the self-mining business and US$3.8 million from the data center business.
Self-mining
As of today, the total hash rate capacity of our
DOGE/LTC mining machines in operation is approximately 13,793.00 GH/s. For the three months ended December 31, 2024, we produced
16.1 million DOGE and 4,578 LTC from our DOGE/LTC cryptocurrency mining operations and recognized revenue of approximately US$4.5 million.
Considerable
uncertainty persists in the market despite the recent modest recovery and growth in cryptocurrency asset prices. Facing this current environment,
we remain determined to improve our quality and efficiency. As of today, the total hash rate capacity of our BTC mining machines in operation
is approximately 395.00 PH/s. For the three months ended December 31, 2024, we produced 3.16 BTC from our BTC cryptocurrency
mining operations and recognized revenue of approximately US$0.3 million. Cryptocurrency mining revenue from other cryptocurrencies, such
as ETC, BEL, JKC, PEP and LKY, totaled approximately US$0.2 million.
Data Center Operation
During
the fourth quarter of 2024, our 82.5 megawatt space (the “82.5 Megawatt Space”) at the Ohio Mining Site recognized approximately
$3.8 million in service fee revenue, representing an increase of US$2.1 million compared with the third quarter of 2024, which
was primarily due to the increase in new customers leading to an increase in electricity consumption.
Overall
Revenues were US$8.8 million for the fourth quarter
of 2024, representing a decrease of US$1.6 million, or 15.4%, from US$10.4 million for the fourth quarter of 2023, and an increase of
US$4.0 million, or 83.3%, from US$4.8 million for the third quarter of 2024. The year-over-year decrease was mainly attributable to higher
computing power of the whole network in the fourth quarter of 2024 compared with the computing power in the fourth quarter of 2023, resulting
in an increased difficulty in cryptocurrency mining activities. The sequential increase was mainly attributable to the sharp increase
in cryptocurrency prices.
Operating Costs and Expenses
Operating
costs and expenses were US$12.9 million for the fourth quarter of 2024, representing a decrease of US$0.8 million, or 5.8%, from
US$13.7 million for the fourth quarter of 2023, and an increase of US$3.9 million, or 43.3%, from US$9.0 million for the third quarter
of 2024.
Cost
of revenue was US$8.5 million for the fourth quarter of 2024, representing a decrease of US$1.3 million, or 13.3%, from
US$9.8 million for the fourth quarter of 2023, and an increase of US$2.1 million, or 32.8%, from US$6.4 million for the third
quarter of 2024. The year-over-year decrease was mainly attributable to the (i) decrease of US$0.9 million in hosting fee due
to the termination of cooperation between us and a third party data center in Texas; and (ii) decrease of US$0.6 million in
salary caused by staff turnover and reduced overseas deployment subsidies. The sequential increase was mainly attributable to the
increase in electricity consumption caused by the new customers and the depreciation of the newly purchased mining machines in the
fourth quarter of 2024. Cost of revenue was comprised of the direct cost of revenue of US$5.8 million and depreciation and
amortization expenses of US$2.7 million. The direct cost of revenue mainly included direct costs relating to (i) the
cryptocurrency mining business of US$0.1 million, and (ii) the data center business of US$5.7 million.
Sales
and marketing expenses were US$0.01 million for the fourth quarter of 2024, compared with US$0.03 million for the fourth quarter
of 2023 and US$0.01 million for the third quarter of 2024.
General
and administrative expenses were US$4.4 million for the fourth quarter of 2024, representing an increase of US$0.6 million, or 15.8%,
from US$3.8 million for the fourth quarter of 2023 and an increase of US$1.9 million, or 76.0%, from US$2.5 million for the third quarter
of 2024. The year-over-year increase was mainly due to (i) an increase of US$0.4 million of travel and business entertainment expenses
related to the Ethiopia acquisition, and (ii) an increase of USD$0.2 million from audit and audit-related professional service
fee. The sequential increase was mainly due to (i) an increase of US$0.3 million in professional service fee related to our at-the-market
offering, (ii) an increase of US$0.2 million from share-based payment, (iii) an increase of US$0.3 million from year-end bonuses,
and (iv) an increase of US$0.5 million from audit and audit-related fees.
Other
Operating Expenses
Other
operating expenses were US$0.5 million for the fourth quarter of 2024, representing a sharp decrease of US$11.8 million, or 95.9%, from
US$12.3 million for the fourth quarter of 2023 and an increase of US$0.5 million from nil for the third quarter of 2024. The sharp year-over-year
decrease was mainly due to (i) a decrease of credit loss provision related to other receivables and prepayment of US$1.9 million
and (ii) a decrease of US$10.0 million in legal contingencies accrued for the FCPA investigations. The sequential increase was mainly
due to an increase of credit loss provision for prepayment of US$0.5 million.
Net Gain on Disposal of Cryptocurrency
Assets
Net
gain on disposal of cryptocurrency assets was US$1.5 million for the fourth quarter of 2023, which was mainly due to fluctuating
market prices for cryptocurrency assets by using first-in-first-out (“FIFO”) to calculate the cost of disposition. Effective
January 1, 2024, the Company adopted ASU 2023-08, which requires cryptocurrency assets to be measured at fair value. Therefore,
there was no gain or loss on disposal of cryptocurrency assets for the third and fourth quarter of 2024.
Impairment of Cryptocurrency Assets
Impairment
of cryptocurrency assets was US$0.2 million for the fourth quarter of 2023, mainly due to the provisions for impairment of cryptocurrency
assets held as a result of fluctuations in cryptocurrency prices. Upon adoption of ASU 2023-08 on January 1, 2024, there
was no impairment of cryptocurrency assets for the third and fourth quarter of 2024.
Changes
in Fair Value of Cryptocurrency Assets
Changes in fair value of cryptocurrency assets
were US$1.8 million for the fourth quarter of 2024, and US$0.6 million for the third quarter of 2024. The difference was due to the remeasurement
on the fair value of the cryptocurrency assets held as we adopted ASU 2023-08 on January 1, 2024, while the accounting treatment
was different for the fourth quarter of 2023.
Operating Loss from Continuing Operations
Operating loss from continuing operations was
US$2.5 million for the fourth quarter of 2024, compared with operating loss from continuing operations of US$14.3 million for the fourth
quarter of 2023, and operating loss from continuing operations of US$4.8 million for the third quarter of 2024.
Non-GAAP
operating loss from continuing operations was US$2.3 million for the fourth quarter of 2024, compared with non-GAAP operating loss from
continuing operations of US$4.0 million for the fourth quarter of 2023, and non-GAAP operating loss from continuing operations of US$4.8
million for the third quarter of 2024. The year-over-year decrease in non-GAAP operating loss from continuing operations was mainly due
to the decrease of credit loss provision related to other receivables and prepayment of US$1.9 million. The sequential decrease
in non-GAAP operating loss from continuing operations was mainly due to a positive change of US$2.4 million in changes in fair value
of cryptocurrency assets.
Net Loss Attributable to BIT Mining including from Continuing
Operations and Discontinued Operations
Net
loss attributable to BIT Mining was US$2.1 million for the fourth quarter of 2024, compared with net loss attributable to BIT Mining
of US$19.0 million for the fourth quarter of 2023, and net loss attributable to BIT Mining of US$4.8 million for the third quarter of
2024. The year-over-year decrease in net loss attributable to BIT Mining was mainly due to (i) a decrease of credit loss provision
related to other receivables and prepayment of US$1.9 million, (ii) a decrease of US$10.0 million in legal contingencies accrued
for the FCPA investigations, (iii) a decrease of US$1.4 million in impairment of long-term investments, and (iv) a decrease of US$3.4
million in loss from discontinued operations. The sequential decrease in net loss attributable to BIT Mining was mainly due to a positive
change of US$2.4 million in changes in fair value of cryptocurrency assets.
Non-GAAP
net loss attributable to BIT Mining was US$2.0 million for the fourth quarter of 2024, compared with non-GAAP net loss attributable to
BIT Mining of US$7.8 million for the fourth quarter of 2023, and non-GAAP net loss attributable to BIT Mining of US$4.8 million
for the third quarter of 2024. The year-over-year decrease in non-GAAP net loss attributable to BIT Mining was mainly due to (i) a decrease
of credit loss provision related to other receivables and prepayment of US$1.9 million and (ii) a decrease of US$3.4 million in loss from
discontinued operations. The sequential decrease in non-GAAP net loss attributable to BIT Mining was mainly due to a positive change of
US$2.4 million in changes in fair value of cryptocurrency assets.
Cash and Cash Equivalents
As
of December 31, 2024, the Company had cash and cash equivalents of US$1.8 million, compared with cash and cash equivalents
of US$3.2 million as of December 31, 2023.
Cryptocurrency Assets
As
of December 31, 2024, the Company had cryptocurrency assets of US$9.6 million in aggregate, which comprised of 19.06 BTC,
1,246 ETH, 7.6 million DOGE, 0.9 million USDT and various other cryptocurrency assets, which were generated from its cryptocurrency mining
business.
About BIT Mining Limited
BIT Mining (NYSE: BTCM) is a leading technology-driven
cryptocurrency mining company with operations in cryptocurrency mining, data center operation and mining machine manufacturing. The Company
is strategically creating long-term value across the industry with its cryptocurrency ecosystem. Anchored by its cost-efficient data
centers that strengthen its profitability with steady cash flow, the Company also conducts self-mining operations that enhance its marketplace
resilience by leveraging self-developed and purchased mining machines to seamlessly adapt to dynamic cryptocurrency pricing. The Company
also owns 7-nanometer BTC chips and has strong capabilities in the development of LTC/DOGE miners and ETC miners.
Safe Harbor Statements
This news release contains
forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined
in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such
as “will”, “expects”, “anticipates”, “future”, “intends”, “plans”,
“believes”, “estimates”, “target”, “going forward”, “outlook” and similar
statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate
to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which
are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially
from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included
in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update
any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
About Non-GAAP Financial Measures
As a supplement to net loss, we use the non-GAAP
financial measure of adjusted net loss which is U.S. GAAP net loss as adjusted to exclude the impact of share-based compensation expenses,
legal contingencies, changes in gain from short-term investments, gain from disposal of long-term investments, impairment of long-term
investments and changes in fair value of derivative instruments. All adjustments are non-cash and we believe they are not reflective of
our general business performance. This non-GAAP financial measure is provided as additional information to help our investors compare
business trends among different reporting periods on a consistent basis and to enhance investors’ overall understanding of our current
financial performance and prospects for the future. This non-GAAP financial measure should not be considered in addition to or as a substitute
for or superior to U.S. GAAP net loss. In addition, our definition of adjusted net loss may be different from the definition of such term
used by other companies, and therefore comparability may be limited.
For more information:
BIT Mining Limited
ir@btcm.group
ir.btcm.group
www.btcm.group
Piacente Financial Communications
Brandi Piacente
Tel: +1 (212) 481-2050
Email: BITMining@thepiacentegroup.com
BIT Mining Limited
Condensed Consolidated Balance Sheets
(Amounts in thousands of U.S. dollars ("US$"), except for number of shares)
(Unaudited)
| | |
December 31, 2023 | | |
December 31, 2024 | |
| ASSETS | |
| | | |
| | |
| Current assets: | |
| | | |
| | |
| Cash and cash equivalents | |
| 3,244 | | |
| 1,808 | |
| Accounts receivable | |
| 2,876 | | |
| 1,913 | |
| Prepayments and other current assets | |
| 6,298 | | |
| 5,583 | |
| Cryptocurrency assets | |
| 7,625 | | |
| 9,581 | |
| Current assets of discontinued operations | |
| 13,813 | | |
| - | |
| Total current assets | |
| 33,856 | | |
| 18,885 | |
| | |
| | | |
| | |
| Non-current assets: | |
| | | |
| | |
| Property and equipment, net | |
| 22,833 | | |
| 19,780 | |
| Intangible assets, net | |
| 2,033 | | |
| 7,633 | |
| Deposits | |
| 2,466 | | |
| 2,462 | |
| Long-term investments | |
| 4,173 | | |
| 3,775 | |
| Right-of-use assets | |
| 4,273 | | |
| 2,627 | |
| Long-term prepayments and other non-current assets | |
| 2,962 | | |
| 27,406 | |
| Total non-current assets | |
| 38,740 | | |
| 63,683 | |
| | |
| | | |
| | |
| TOTAL ASSETS | |
| 72,596 | | |
| 82,568 | |
| | |
| | | |
| | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | |
| Accounts payable | |
| 821 | | |
| 19 | |
| Accrued payroll and welfare payable | |
| 410 | | |
| 306 | |
| Accrued expenses and other current liabilities | |
| 14,333 | | |
| 6,958 | |
| Operating lease liabilities – current | |
| 1,681 | | |
| 1,477 | |
| Income tax payable | |
| 76 | | |
| 71 | |
| Current liabilities of discontinued operations | |
| 27,605 | | |
| - | |
| Total current liabilities | |
| 44,926 | | |
| 8,831 | |
| | |
| | | |
| | |
| Non-current liabilities: | |
| | | |
| | |
| Other non-current liabilities | |
| - | | |
| 776 | |
| Operating lease liabilities - non-current | |
| 2,538 | | |
| 1,071 | |
| Total
non-current liabilities | |
| 2,538 | | |
| 1,847 | |
| | |
| | | |
| | |
| TOTAL LIABILITIES | |
| 47,464 | | |
| 10,678 | |
| | |
| | | |
| | |
| Shareholders’ equity: | |
| | | |
| | |
| Class A ordinary shares, par value US$0.00005 per share; 1,599,935,000 shares authorized as of December 31, 2023 and December 31, 2024; 1,111,232,210 and 1,595,399,890 shares issued and outstanding as of December 31, 2023 and December 31, 2024, respectively | |
| 54 | | |
| 78 | |
| Class A preference shares, par value US$0.00005 per share; 65,000 shares authorized as of December 31, 2023 and December 31, 2024; 65,000 shares issued and outstanding as of December 31, 2023 and December 31, 2024 | |
| - | | |
| - | |
| Class B ordinary shares, par value US$0.00005 per share; 400,000,000 shares authorized as of December 31, 2023 and December 31, 2024; 99 shares issued and outstanding as of December 31, 2023 and December 31, 2024 | |
| - | | |
| - | |
| Additional paid-in capital | |
| 621,837 | | |
| 640,723 | |
| Treasury shares | |
| (21,604 | ) | |
| (21,604 | ) |
| Accumulated deficit and statutory reserve | |
| (570,879 | ) | |
| (557,915 | ) |
| Accumulated other comprehensive loss | |
| (4,276 | ) | |
| (4,394 | ) |
| Total BIT Mining Limited shareholders’ equity | |
| 25,132 | | |
| 56,888 | |
| Non-controlling interests | |
| - | | |
| 15,002 | |
| Total shareholders' equity | |
| 25,132 | | |
| 71,890 | |
| | |
| | | |
| | |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | |
| 72,596 | | |
| 82,568 | |
BIT Mining Limited
Condensed Consolidated Statements of Comprehensive (Loss) Income
(Amounts in thousands of U.S. dollars (“US$”),
except for number of shares, per share (or ADS) data)
(Unaudited)
| | |
Three Months Ended | | |
Twelve Months Ended | |
| | |
December 31,
2023 | | |
September 30,
2024 | | |
December 31,
2024 | | |
December 31,
2023 | | |
December 31,
2024 | |
| Revenues | |
| 10,407 | | |
| 4,770 | | |
| 8,793 | | |
| 43,101 | | |
| 32,922 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Operating costs and expenses: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Cost of revenue | |
| (9,843 | ) | |
| (6,448 | ) | |
| (8,506 | ) | |
| (40,055 | ) | |
| (29,938 | ) |
| Sales and marketing expenses | |
| (31 | ) | |
| (16 | ) | |
| (16 | ) | |
| (153 | ) | |
| (54 | ) |
| General and administrative expenses | |
| (3,820 | ) | |
| (2,513 | ) | |
| (4,375 | ) | |
| (18,465 | ) | |
| (13,609 | ) |
| Service development expenses | |
| - | | |
| - | | |
| - | | |
| (874 | ) | |
| (69 | ) |
| Total operating costs and expenses | |
| (13,694 | ) | |
| (8,977 | ) | |
| (12,897 | ) | |
| (59,547 | ) | |
| (43,670 | ) |
| Other operating income | |
| 46 | | |
| 11 | | |
| 196 | | |
| 180 | | |
| 214 | |
| Other operating expenses | |
| (12,345 | ) | |
| (2 | ) | |
| (481 | ) | |
| (13,642 | ) | |
| (536 | ) |
| Net gain on disposal of cryptocurrency assets | |
| 1,531 | | |
| - | | |
| - | | |
| 7,074 | | |
| - | |
| Impairment of cryptocurrency assets | |
| (242 | ) | |
| - | | |
| - | | |
| (2,359 | ) | |
| - | |
| Changes in fair value of cryptocurrency assets | |
| - | | |
| (601 | ) | |
| 1,830 | | |
| - | | |
| 3,203 | |
| Changes in fair value of payables settled by cryptocurrency assets | |
| - | | |
| - | | |
| 37 | | |
| - | | |
| 37 | |
| Operating loss from continuing operations | |
| (14,297 | ) | |
| (4,799 | ) | |
| (2,522 | ) | |
| (25,193 | ) | |
| (7,830 | ) |
| Other income (expense), net | |
| 289 | | |
| (21 | ) | |
| 253 | | |
| 691 | | |
| 370 | |
| Interest income | |
| - | | |
| 1 | | |
| - | | |
| 242 | | |
| 2 | |
| Loss from equity method investments | |
| (620 | ) | |
| - | | |
| (153 | ) | |
| (295 | ) | |
| (20 | ) |
| Impairment of long-term investments | |
| (1,408 | ) | |
| - | | |
| - | | |
| (1,408 | ) | |
| - | |
| Gain from disposal of long-term investments | |
| - | | |
| - | | |
| - | | |
| 614 | | |
| - | |
| Gain from short-term investments | |
| - | | |
| - | | |
| 55 | | |
| - | | |
| 210 | |
| Changes in fair value of derivative instruments | |
| 498 | | |
| 69 | | |
| 85 | | |
| (35 | ) | |
| 257 | |
| Loss before income tax from continuing operations | |
| (15,538 | ) | |
| (4,750 | ) | |
| (2,282 | ) | |
| (25,384 | ) | |
| (7,011 | ) |
| Income tax benefits | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| Net loss from continuing operations | |
| (15,538 | ) | |
| (4,750 | ) | |
| (2,282 | ) | |
| (25,384 | ) | |
| (7,011 | ) |
| (Loss) income from discontinued operations, net of applicable income taxes | |
| (3,416 | ) | |
| - | | |
| - | | |
| (3,326 | ) | |
| 240 | |
| Gain on disposal of discontinued operations, net of applicable income taxes | |
| - | | |
| - | | |
| - | | |
| - | | |
| 18,687 | |
| Net (loss) income from discontinued operations, net of applicable income taxes | |
| (3,416 | ) | |
| - | | |
| - | | |
| (3,326 | ) | |
| 18,927 | |
| Net (loss) income | |
| (18,954 | ) | |
| (4,750 | ) | |
| (2,282 | ) | |
| (28,710 | ) | |
| 11,916 | |
| Less: Net loss attributable to the non-controlling interests | |
| - | | |
| - | | |
| (155 | ) | |
| - | | |
| (155 | ) |
| Net (loss) income attributable to BIT Mining Limited | |
| (18,954 | ) | |
| (4,750 | ) | |
| (2,127 | ) | |
| (28,710 | ) | |
| 12,071 | |
| Other comprehensive income (loss): | |
| | | |
| | | |
| | | |
| | | |
| | |
| Foreign currency translation gain (loss) | |
| 168 | | |
| 140 | | |
| (143 | ) | |
| (316 | ) | |
| (118 | ) |
| Other comprehensive income (loss), net of tax | |
| 168 | | |
| 140 | | |
| (143 | ) | |
| (316 | ) | |
| (118 | ) |
| Comprehensive (loss) income | |
| (18,786 | ) | |
| (4,610 | ) | |
| (2,425 | ) | |
| (29,026 | ) | |
| 11,798 | |
| Less: comprehensive loss attributable to non-controlling interests | |
| - | | |
| - | | |
| (155 | ) | |
| - | | |
| (155 | ) |
| Comprehensive (loss) income attributable to BIT Mining Limited | |
| (18,786 | ) | |
| (4,610 | ) | |
| (2,270 | ) | |
| (29,026 | ) | |
| 11,953 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Weighted average number of Class A and Class B ordinary shares outstanding: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 1,111,232,309 | | |
| 1,154,341,490 | | |
| 1,293,350,917 | | |
| 1,102,373,814 | | |
| 1,171,663,331 | |
| Diluted | |
| 1,111,232,309 | | |
| 1,154,341,490 | | |
| 1,293,350,917 | | |
| 1,102,373,814 | | |
| 1,171,663,331 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| (Losses) earnings per share attributable to BIT Mining Limited-Basic and Diluted | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net loss from continuing operations | |
| (0.02 | ) | |
| (0.00 | ) | |
| (0.00 | ) | |
| (0.03 | ) | |
| (0.01 | ) |
| Net (loss) income from discontinued operations | |
| (0.00 | ) | |
| 0.00 | | |
| 0.00 | | |
| (0.00 | ) | |
| 0.02 | |
| Net (loss) income | |
| (0.02 | ) | |
| (0.00 | ) | |
| (0.00 | ) | |
| (0.03 | ) | |
| 0.01 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| (Losses) earnings per ADS* attributable to BIT Mining Limited-Basic and Diluted | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net loss from continuing operations | |
| (1.40 | ) | |
| (0.41 | ) | |
| (0.16 | ) | |
| (2.30 | ) | |
| (0.59 | ) |
| Net (loss) income from discontinued operations | |
| (0.31 | ) | |
| 0.00 | | |
| 0.00 | | |
| (0.30 | ) | |
| 1.62 | |
| Net (loss) income | |
| (1.71 | ) | |
| (0.41 | ) | |
| (0.16 | ) | |
| (2.60 | ) | |
| 1.03 | |
* American Depositary Shares, which are traded on the NYSE. Each ADS
represents 100 Class A ordinary shares of the Company.
BIT Mining Limited
Reconciliation of non-GAAP results of operations measures to the nearest comparable GAAP measures
(Amounts in thousands of U.S. dollars (“US$”),
except for number of shares, per share (or ADS) data)
(Unaudited)
| | |
Three Months Ended | | |
Twelve Months Ended | |
| | |
December 31,
2023 | | |
September 30,
2024 | | |
December 31,
2024 | | |
December 31,
2023 | | |
December 31,
2024 | |
| Operating loss from continuing operations | |
| (14,297 | ) | |
| (4,799 | ) | |
| (2,522 | ) | |
| (25,193 | ) | |
| (7,830 | ) |
| Adjustment for share-based compensation expenses | |
| 276 | | |
| - | | |
| 219 | | |
| 1,030 | | |
| 1,214 | |
| Adjustment for legal contingencies | |
| 10,000 | | |
| - | | |
| - | | |
| 10,000 | | |
| - | |
| Adjusted operating loss (non-GAAP) from continuing operations | |
| (4,021 | ) | |
| (4,799 | ) | |
| (2,303 | ) | |
| (14,163 | ) | |
| (6,616 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net (loss) income attributable to BIT Mining Limited | |
| (18,954 | ) | |
| (4,750 | ) | |
| (2,127 | ) | |
| (28,710 | ) | |
| 12,071 | |
| Net (loss) income attributable to BIT Mining Limited from discontinued operations | |
| (3,416 | ) | |
| - | | |
| - | | |
| (3,326 | ) | |
| 18,927 | |
| Net loss attributable to BIT Mining Limited from continuing operations | |
| (15,538 | ) | |
| (4,750 | ) | |
| (2,127 | ) | |
| (25,384 | ) | |
| (6,856 | ) |
| Adjustment for share-based compensation expenses | |
| 276 | | |
| - | | |
| 219 | | |
| 1,030 | | |
| 1,214 | |
| Adjustment for legal contingencies | |
| 10,000 | | |
| - | | |
| - | | |
| 10,000 | | |
| - | |
| Adjustment for gain from disposal of long-term investments | |
| - | | |
| - | | |
| - | | |
| (614 | ) | |
| - | |
| Adjustment for impairment of long-term investments | |
| 1,408 | | |
| - | | |
| - | | |
| 1,408 | | |
| - | |
| Adjustment for changes in fair value of derivative instruments | |
| (498 | ) | |
| (69 | ) | |
| (85 | ) | |
| 35 | | |
| (257 | ) |
| Adjustment for changes in gain from short-term investments | |
| - | | |
| - | | |
| (55 | ) | |
| - | | |
| (210 | ) |
| Adjusted net loss attributable to BIT Mining Limited (non-GAAP) from continuing operations | |
| (4,352 | ) | |
| (4,819 | ) | |
| (2,048 | ) | |
| (13,525 | ) | |
| (6,109 | ) |
| Net (loss) income from discontinued operations, net of applicable income taxes | |
| (3,416 | ) | |
| - | | |
| - | | |
| (3,326 | ) | |
| 18,927 | |
| Adjusted net (loss) income attributable to BIT Mining Limited from discontinued operations (non-GAAP) | |
| (3,416 | ) | |
| - | | |
| - | | |
| (3,326 | ) | |
| 18,927 | |
| Adjusted net (loss) income attributable to BIT Mining Limited (non-GAAP) | |
| (7,768 | ) | |
| (4,819 | ) | |
| (2,048 | ) | |
| (16,851 | ) | |
| 12,818 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Weighted average number of Class A and Class B ordinary shares outstanding: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 1,111,232,309 | | |
| 1,154,341,490 | | |
| 1,293,350,917 | | |
| 1,102,373,814 | | |
| 1,171,663,331 | |
| Diluted | |
| 1,111,232,309 | | |
| 1,154,341,490 | | |
| 1,293,350,917 | | |
| 1,102,373,814 | | |
| 1,171,663,331 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| (Losses) earnings per share attributable to BIT Mining Limited (non-GAAP)-Basic and Diluted | |
| | | |
| | | |
| | | |
| | | |
| | |
| Adjusted net loss from continuing operations (non-GAAP) | |
| (0.01 | ) | |
| (0.00 | ) | |
| (0.00 | ) | |
| (0.01 | ) | |
| (0.01 | ) |
| Adjusted net (loss) income from discontinued operations (non-GAAP) | |
| (0.00 | ) | |
| 0.00 | | |
| 0.00 | | |
| (0.00 | ) | |
| 0.02 | |
| Adjusted net (loss) income (non-GAAP) | |
| (0.01 | ) | |
| (0.00 | ) | |
| (0.00 | ) | |
| (0.01 | ) | |
| 0.01 | |
| (Losses) earnings per ADS* attributable to BIT Mining Limited (non-GAAP)-Basic and Diluted | |
| | | |
| | | |
| | | |
| | | |
| | |
| Adjusted net loss from continuing operations (non-GAAP) | |
| (0.39 | ) | |
| (0.42 | ) | |
| (0.16 | ) | |
| (1.23 | ) | |
| (0.53 | ) |
| Adjusted net (loss) income from discontinued operations (non-GAAP) | |
| (0.31 | ) | |
| 0.00 | | |
| 0.00 | | |
| (0.30 | ) | |
| 1.62 | |
| Adjusted net loss (non-GAAP) | |
| (0.70 | ) | |
| (0.42 | ) | |
| (0.16 | ) | |
| (1.53 | ) | |
| 1.09 | |
* American Depositary Shares, which are traded on the NYSE. Each ADS
represents 100 Class A ordinary shares of the Company.
Bit Mining (NYSE:BTCM)
과거 데이터 주식 차트
부터 2월(2) 2025 으로 3월(3) 2025
Bit Mining (NYSE:BTCM)
과거 데이터 주식 차트
부터 3월(3) 2024 으로 3월(3) 2025
