The latest announcement is out from BIT Mining ( (BTCM) ).
BIT Mining Limited announced its unaudited financial results for the fourth quarter and full year ending December 31, 2024. The company reported a decrease in revenue for the fourth quarter compared to the previous year, but an increase from the third quarter of 2024, primarily due to a rise in cryptocurrency prices. The acquisition of a 51% equity interest in a cryptocurrency mining data center in Ethiopia in December 2024 is a significant strategic move, expected to enhance operational efficiency and generate stable revenue streams. Despite a challenging market environment, BIT Mining has reduced its operating and net losses significantly compared to the previous year, indicating improved operational efficiency and business structure refinement.
More about BIT Mining
BIT Mining Limited is a technology-driven cryptocurrency mining company that focuses on cryptocurrency mining operations and data center management. The company is expanding its global presence with a strategic focus on developing data centers worldwide.
YTD Price Performance: -28.52%
Average Trading Volume: 130,344
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $21.45M
See more data about BTCM stock on TipRanks’ Stock Analysis page.