Bit Mining Stock Today

BTCM Stock  USD 2.63  0.12  4.36%   

Performance

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Odds Of Distress

Over 54

 
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BIT Mining is selling at 2.63 as of the 1st of May 2024; that is -4.36 percent down since the beginning of the trading day. The stock's lowest day price was 2.56. BIT Mining has 54 percent odds of going through some form of financial distress in the next two years and has generated negative returns to investors over the last 90 days. Equity ratings for BIT Mining are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 1st of April 2024 and ending today, the 1st of May 2024. Click here to learn more.
Business Domain
Software & Services
IPO Date
22nd of November 2013
Category
Technology
Classification
Information Technology
BIT Mining Limited operates as a cryptocurrency mining company. BIT Mining Limited was founded in 2001 and is headquartered in Hong Kong. Bit Mining operates under Information Technology Services classification in the United States and is traded on New York Stock Exchange. The company has 11.11 M outstanding shares of which 369.33 K shares are currently shorted by private and institutional investors with about 3.65 trading days to cover. More on BIT Mining

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Moving against BIT Stock

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BIT Stock Highlights

Most reasonable investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend. BIT Mining's investment highlights are automatically generated signals that are significant enough to either complement your investing judgment regarding BIT Mining or challenge it. These highlights can help you better understand the position you are entering and avoid costly mistakes.
Chief Executive OfficerXianfeng Yang
Business ConcentrationApplication Software, Information Technology Services, Information Technology, NYSE Composite, Information Technology, Software, Information Technology Services, Technology (View all Sectors)
Average Analyst Recommendation
Analysts covering BIT Mining report their recommendations after researching BIT Mining's financial statements, talking to executives and customers, or listening in on BIT Mining's conference calls. The current trade recommendation is based on an ongoing consensus estimate among financial analysts covering BIT Mining. The BIT consensus assessment is calculated by taking the average forecast from all of the analysts covering BIT Mining.
Financial Strength
Based on the key indicators obtained from BIT Mining's historical financial statements, BIT Mining is not in a good financial situation at the present time. It has a very high chance of going through financial crunch in June. Financial strength of BIT Mining is based on its profitability, leverage, liquidity, source of funds, and operating efficiency.
Current ValueLast YearChange From Last Year 10 Year Trend
Asset Turnover8.257.86
Sufficiently Up
Slightly volatile
Total Current Liabilities32 M35.5 M
Moderately Down
Pretty Stable
Non Current Liabilities Total2.4 M2.6 M
Notably Down
Slightly volatile
Total Assets81.4 M85.6 M
Notably Down
Very volatile
Total Current Assets29.4 M30.9 M
Notably Down
Slightly volatile
BIT Mining's financial strength is of vital concern to both outside investors and internal stakeholders. Efficiency and cost control are keys to BIT Mining's success, along with its ability to generate sufficient cash flow to pay bills, repay debt, and make a consistent year-to-year profit.
Financial leverage usually refers to the use of borrowed funds to amplify returns from an investment. In general, analyzing the relationship between debt to total assets helps investors to understand BIT Mining's financial leverage. It provides some insight into what part of BIT Mining's total assets is financed by creditors.
By using current balance sheet information, investors can analyze the liability, assets, and equity on BIT Mining's books and decide whether to invest or hold. Statistics such as return on equity (ROE), debt to equity (D/E) help investors determine how BIT Mining deploys its capital and how much of that capital is borrowed.
Liquidity
BIT Mining cash flow analysis is essential to understand how it generates and spends money over a specific period. It can also help you figure out where your money is going and how much cash you have available at a given moment. The company currently holds 4.2 M in liabilities with Debt to Equity (D/E) ratio of 0.03, which may suggest the company is not taking enough advantage from borrowing. BIT Mining has a current ratio of 1.57, which is within standard range for the sector. Debt can assist BIT Mining until it has trouble settling it off, either with new capital or with free cash flow. So, BIT Mining's shareholders could walk away with nothing if the company can't fulfill its legal obligations to repay debt. However, a more frequent occurrence is when companies like BIT Mining sell additional shares at bargain prices, diluting existing shareholders. Debt, in this case, can be an excellent and much better tool for BIT to invest in growth at high rates of return. When we think about BIT Mining's use of debt, we should always consider it together with cash and equity.

Begin Period Cash Flow

5.3 Million
BIT Mining (BTCM) is traded on New York Stock Exchange in USA. It is located in 428 South Seiberling Street, Akron, OH, United States, 44306 and employs 13 people. BIT Mining is listed under Application Software category by Fama And French industry classification. The company currently falls under 'Micro-Cap' category with a current market capitalization of 30.34 M. Market capitalization usually refers to the total value of a company's stock within the entire market. To calculate BIT Mining's market, we take the total number of its shares issued and multiply it by BIT Mining's current market price. To manage market risk and economic uncertainty, many investors today build portfolios that are diversified across equities with different market capitalizations. However, as a general rule, conservative investors tend to hold large-cap stocks, and those looking for more risk prefer small-cap and mid-cap equities. BIT Mining conducts business under Software sector and is part of Information Technology industry. The entity has 11.11 M outstanding shares of which 369.33 K shares are currently shorted by private and institutional investors with about 3.65 trading days to cover. BIT Mining currently holds about 22.56 M in cash with (63.56 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 0.26.
Check BIT Mining Probability Of Bankruptcy
Ownership Allocation
BIT Mining retains a total of 11.11 Million outstanding shares. BIT Mining shows 8.9 percent of its outstanding shares held by insiders and 5.4 percent owned by other corporate entities. Remember, it does not matter who owns the company or if the company is currently losing money. If the true value of the company is more than the market pays for it currently, you can still have a good investment opportunity.
Check BIT Ownership Details

BIT Stock Price Odds Analysis

Contingent on a normal probability distribution, the odds of BIT Mining jumping above the current price in 90 days from now is about 82.99%. The BIT Mining probability density function shows the probability of BIT Mining stock to fall within a particular range of prices over 90 days. Given the investment horizon of 90 days the stock has a beta coefficient of 2.5783 suggesting as the benchmark fluctuates upward, the company is expected to outperform it on average. However, if the benchmark returns are projected to be negative, BIT Mining will likely underperform. Additionally, bIT Mining has a negative alpha, implying that the risk taken by holding this instrument is not justified. The company is significantly underperforming the NYSE Composite.
  Odds Below 2.63HorizonTargetOdds Above 2.63
16.95%90 days
 2.63 
82.99%
Based on a normal probability distribution, the odds of BIT Mining to move above the current price in 90 days from now is about 82.99 (This BIT Mining probability density function shows the probability of BIT Stock to fall within a particular range of prices over 90 days) .

BIT Stock Institutional Holders

Institutional Holdings refers to the ownership stake in BIT Mining that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of BIT Mining's outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing BIT Mining's value.
InstituionRecorded OnShares
Qube Research & Technologies2023-12-31
1.2 K
Rhumbline Advisers2023-12-31
168
Citigroup Inc2023-12-31
2.0
Citadel Advisors Llc2023-09-30
0.0
Xtx Topco Ltd2023-09-30
0.0
Sc China Holding Ltd2023-09-30
350.4 K
Renaissance Technologies Corp2023-12-31
99.6 K
Two Sigma Investments Llc2023-12-31
43.6 K
Susquehanna International Group, Llp2023-12-31
43.1 K
Virtu Financial Llc2023-12-31
21.7 K
Hpm Partners Llc2023-12-31
10 K
View BIT Mining Diagnostics

BIT Mining Historical Income Statement

BIT Mining Income Statement is one of the three primary financial statements used for reporting BIT's overall financial performance over a current year or for a given accounting period. An Income Statement sometimes referred to as the statement of BIT Mining revenue and expense. BIT Mining Income Statement primarily focuses on the company's revenues and expenses during a particular period.
At this time, BIT Mining's Total Other Income Expense Net is very stable compared to the past year. As of the 1st of May 2024, Income Tax Expense is likely to grow to about 8.1 M, while Selling And Marketing Expenses is likely to drop about 541.2 K. View More Fundamentals

BIT Stock Against Markets

Picking the right benchmark for BIT Mining stock is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in BIT Mining stock price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for BIT Mining is critical whether you are bullish or bearish towards BIT Mining at a given time. Please also check how BIT Mining's historical prices are related to one of the top price index indicators.

Be your own money manager

Our tools can tell you how much better you can do entering a position in BIT Mining without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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BIT Mining Corporate Management

Elected by the shareholders, the BIT Mining's board of directors comprises two types of representatives: BIT Mining inside directors who are chosen from within the company, and outside directors, selected externally and held independent of BIT. The board's role is to monitor BIT Mining's management team and ensure that shareholders' interests are well served. BIT Mining's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, BIT Mining's outside directors are responsible for providing unbiased perspectives on the board's policies.
Qian SunIndependent DirectorProfile
Angel WongIndependent DirectorProfile
Honghui DengIndependent DirectorProfile
Yu WeiIndependent DirectorProfile
Shengwu WuChairman of the BoardProfile

How to buy BIT Stock?

Before investing in BIT Mining, you must ensure you fully understand your financial goals and how diversified (or not) your overall investments are now. Then, after you clearly understand your investment objectives, consider investing in BIT Mining. To buy BIT Mining stock, you can follow these steps:
  • Choose a brokerage firm: You need to select a brokerage firm to buy shares of BIT Mining. Some popular options include Charles Schwab, Fidelity, TD Ameritrade, and Robinhood.
  • Open an account: Once you have chosen a brokerage firm, you will need to open an account. You will be required to provide personal information, such as your name, address, and Social Security number.
  • Fund your account: You will need to deposit funds into your brokerage account to purchase BIT Mining stock. You can do this by transferring funds from your bank account or other investment accounts.
  • Place your order: Once you have located BIT Mining stock in your brokerage account, you can place your order to buy it. You will need to specify the number of shares you want to buy and the price you are willing to pay.
  • Monitor your investment: After you have purchased BIT Mining stock, you should monitor your investment to track its performance and make informed decisions about buying, selling, or holding the stock
It's important to note that investing in stocks, such as BIT Mining, carries risks, and you should carefully consider your investment goals and risk tolerance before making any investment decisions. Also, remember various factors, including economic indicators, change in net worth, political events, company-specific news, and investor sentiment, can influence the stock market. These factors can cause fluctuations in stock prices and lead to market volatility affecting your buy or sell decision. However, volatility can also present opportunities for investors to make gains by buying stocks when prices are low and selling when they are high. It's important for investors to have a long-term perspective and a well-diversified portfolio to manage the impact of stock market volatility on their investments. For more information on how to buy BIT Stock please use our How to Invest in BIT Mining guide.

Already Invested in BIT Mining?

The danger of trading BIT Mining is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of BIT Mining is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than BIT Mining. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile BIT Mining is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether BIT Mining is a strong investment it is important to analyze BIT Mining's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact BIT Mining's future performance. For an informed investment choice regarding BIT Stock, refer to the following important reports:
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in BIT Mining. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in main economic indicators.
To learn how to invest in BIT Stock, please use our How to Invest in BIT Mining guide.
Note that the BIT Mining information on this page should be used as a complementary analysis to other BIT Mining's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.

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When running BIT Mining's price analysis, check to measure BIT Mining's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy BIT Mining is operating at the current time. Most of BIT Mining's value examination focuses on studying past and present price action to predict the probability of BIT Mining's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move BIT Mining's price. Additionally, you may evaluate how the addition of BIT Mining to your portfolios can decrease your overall portfolio volatility.
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Is BIT Mining's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of BIT Mining. If investors know BIT will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about BIT Mining listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share
(1.00)
Revenue Per Share
3.91
Quarterly Revenue Growth
(0.83)
Return On Assets
(0.13)
Return On Equity
(0.24)
The market value of BIT Mining is measured differently than its book value, which is the value of BIT that is recorded on the company's balance sheet. Investors also form their own opinion of BIT Mining's value that differs from its market value or its book value, called intrinsic value, which is BIT Mining's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because BIT Mining's market value can be influenced by many factors that don't directly affect BIT Mining's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between BIT Mining's value and its price as these two are different measures arrived at by different means. Investors typically determine if BIT Mining is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, BIT Mining's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.