{"id":47939,"date":"2021-08-19T13:20:05","date_gmt":"2021-08-19T10:20:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47939"},"modified":"2025-09-01T23:48:12","modified_gmt":"2025-09-01T20:48:12","slug":"bit-mining-limited-revenue-up-nearly-150-fold","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bit-mining-limited-revenue-up-nearly-150-fold\/","title":{"rendered":"BIT Mining Limited revenue up nearly 150-fold"},"content":{"rendered":"<p>The NYSE-listed BIT Mining Limited&#8217;s revenue in the second quarter of 2021 amounted to $445.1 million. This was 147 times higher than in the previous period.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Q2 financial results has been release, ETH mining on the go~<a href=\"https:\/\/t.co\/eeJApUWxqP\">https:\/\/t.co\/eeJApUWxqP<\/a><\/p>\n<p>\u2014 BIT Mining Limited (@BITMining_BTCM) <a href=\"https:\/\/twitter.com\/BITMining_BTCM\/status\/1427806713013440514?ref_src=twsrc%5Etfw\">August 18, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the earnings report, 95% of revenue was generated by the BTC.com mining pool, which the firm <a href=\"https:\/\/forklog.com\/en\/news\/jihan-wu-sells-btc-com-mining-pool-to-500-com\">bought at the beginning of the year<\/a>. The pool generated $422.8 million in revenue mainly as rewards for blocks mined by participants, which the company accounts for on its balance sheet. BTC.com distributed assets totaling $414.4 million among miners. Profit amounted to $8.4 million before operating costs and depreciation.<\/p>\n<p>The company has Ethereum mining capacity with a total hash rate of 600 GH\/s and mines about 13 ETH (~$43,000) per day. Direct operating costs do not exceed 10% of revenue.<\/p>\n<p>By the end of October, BIT Mining expects to increase capacity to 4800 GH\/s.<\/p>\n<p>In the quarter, the company mined 186 BTC (about $9.5 million), with the share of mining digital gold in net income at roughly 2.1%.<\/p>\n<p>BIT Mining&#8217;s Bitcoin network hashrate reaches 1,425 PH\/s. BIT Mining is expanding its cryptocurrency mining operations and has placed 7,849 miners <a href=\"https:\/\/forklog.com\/en\/news\/bit-mining-limited-to-deploy-2500-bitcoin-miners-to-kazakhstan\">in Kazakhstan<\/a>, 3,293 installations are already in operation.<\/p>\n<p>The data-centre management business generated $11.4 million in revenue, or approximately 2.6% of the total.<\/p>\n<p>BIT Mining&#8217;s net profit for the quarter was $1.5 million.<\/p>\n<p>In June, the company <a href=\"https:\/\/forklog.com\/en\/news\/bit-mining-limited-raises-50-million-for-overseas-expansion\">raised $50 million<\/a> to expand its business beyond China.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The NYSE-listed BIT Mining Limited reported revenue of $445.1 million in Q2 2021, up 147 times from the prior period.<\/p>\n","protected":false},"author":1,"featured_media":47940,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1713,1137],"class_list":["post-47939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bit-mining-limited","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=47939"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47939\/revisions"}],"predecessor-version":[{"id":47941,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47939\/revisions\/47941"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/47940"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=47939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=47939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=47939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}