What is Bit Mining Limited's earnings per share (EPS)?

Bit Mining Limited (BTCM) reported diluted earnings per share of $-0.02 for fiscal year 2025. This represents a -300.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Bit Mining Limited Financials

BTCM

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows Bit Mining Limited (BTCM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BTCM FY2024 2026-04-22

BIT Mining’s reported profit now reflects cost restructuring and non-core accounting gains more than cash-generating operations.

FY2024 showed positive net income of $12.1M even though operating income stayed negative at -$8.0M. With operating cash flow still at -$32.7M while EBITDA turned positive at $3.5M, unlike FY2023 the profit line flipped before cash generation did, which means the headline profit was not backed by cash from the core business.

Revenue fell to $32.9M from $43.1M. Yet gross margin improved to 9.1% from 7.1% and the operating loss narrowed sharply, a sign that the business became less loss-heavy per dollar of sales through a leaner cost base rather than through expansion.

The balance sheet is less burdened than a year earlier, with total liabilities down to $19.6M from $47.5M. But the cash cushion was only $1.8M while free cash flow was -$33.9M, so improved solvency has not yet turned into self-funding liquidity and day-to-day cash remains tight.

Financial Health Signals

Financial Health Score 16/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Bit Mining Limited's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway

Revenue Progress

Burn Trend

Balance Sheet

Altman Z-Score Distress

-17.29

Bit Mining Limited scores -17.29, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($48.7M) relative to total liabilities ($10.9M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

3/7

Bit Mining Limited passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.79x

For every $1 of reported earnings, Bit Mining Limited generates $0.79 in operating cash flow (-$26.9M OCF vs -$33.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$23.0M

YoY-30.1%

5Y CAGR+60.4%

10Y CAGR+4.1%

Bit Mining Limited generated $23.0M in revenue in fiscal year 2025. This represents a decrease of 30.1% from the prior year.

EBITDA

-$18.5M

YoY-624.2%

Bit Mining Limited's EBITDA was -$18.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 624.2% from the prior year.

Net Income

-$33.9M

YoY-380.6%

Bit Mining Limited reported -$33.9M in net income in fiscal year 2025. This represents a decrease of 380.6% from the prior year.

EPS (Diluted)

$-0.02

YoY-300.0%

Bit Mining Limited earned $-0.02 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 300.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$27.1M

YoY+20.0%

Bit Mining Limited generated -$27.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 20.0% from the prior year.

Cash & Debt

$1.4M

YoY-21.5%

5Y CAGR-50.4%

10Y CAGR-31.0%

Bit Mining Limited held $1.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

-46.9%

YoY-56.0pp

5Y CAGR-53.9pp

Bit Mining Limited's gross margin was -46.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 56.0 percentage points from the prior year.

Operating Margin

-150.9%

YoY-126.5pp

5Y CAGR+633.0pp

10Y CAGR+151.9pp

Bit Mining Limited's operating margin was -150.9% in fiscal year 2025, reflecting core business profitability. This is down 126.5 percentage points from the prior year.

Net Margin

-147.3%

YoY-184.0pp

5Y CAGR+1348.4pp

10Y CAGR+178.1pp

Bit Mining Limited's net profit margin was -147.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 184.0 percentage points from the prior year.

Return on Equity

-99.0%

YoY-120.2pp

5Y CAGR-46.5pp

10Y CAGR-80.6pp

Bit Mining Limited's ROE was -99.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 120.2 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$220K

YoY-81.3%

5Y CAGR-0.4%

10Y CAGR-17.9%

Bit Mining Limited invested $220K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 81.3% from the prior year.

BTCM Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$23.0M-30.1%	$32.9M-23.6%	$43.1M-24.4%	$57.0M+6.1%	$53.8M+2381.3%	$2.2M
Cost of Revenue	$33.8M+12.9%	$29.9M-25.3%	$40.1M-34.5%	$61.2M+54.9%	$39.5M+1859.8%	$2.0M
Gross Profit	-$10.8M-461.4%	$3.0M-2.0%	$3.0M+173.0%	-$4.2M-129.2%	$14.3M+9344.4%	$151K
R&D Expenses	N/A	$69K-92.1%	$874K-60.5%	$2.2M+76.1%	$1.3M-35.2%	$1.9M
SG&A Expenses	$18.3M+33.1%	$13.7M-25.8%	$18.5M-15.9%	$21.9M-1.4%	$22.3M+55.4%	$14.3M
Operating Income	-$34.7M-333.4%	-$8.0M+68.2%	-$25.2M+71.9%	-$89.6M-102.3%	-$44.3M-160.9%	-$17.0M
Interest Expense	N/A	N/A	N/A	$218K-71.9%	$775K	N/A
Income Tax	$0	$0	$0	$0+100.0%	-$359K-1096.7%	-$30K
Net Income	-$33.9M-380.6%	$12.1M+142.1%	-$28.7M+81.5%	-$155.4M-149.1%	-$62.4M-92.5%	-$32.4M
EPS (Diluted)	$-0.02-300.0%	$0.01+133.3%	$-0.03+83.3%	$-0.18-80.0%	$-0.10-42.9%	$-0.07

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BTCM Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$45.6M-47.2%	$86.3M+18.9%	$72.6M-16.4%	$86.8M-70.5%	$294.2M+308.1%	$72.1M
Current Assets	$17.7M-7.7%	$19.1M-43.4%	$33.9M-4.2%	$35.3M-62.1%	$93.3M+81.2%	$51.5M
Cash & Equivalents	$1.4M-21.5%	$1.8M-44.2%	$3.2M-41.0%	$5.5M-68.9%	$17.7M-62.6%	$47.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$2.8M+49.6%	$1.8M-35.8%	$2.9M-19.6%	$3.6M+385.1%	$737K	N/A
Goodwill	N/A	$0	$0	N/A	$26.6M	N/A
Total Liabilities	$10.9M-44.4%	$19.6M-58.8%	$47.5M+40.9%	$33.7M-62.1%	$89.0M+626.1%	$12.3M
Current Liabilities	$10.0M-10.8%	$11.2M-75.0%	$44.9M+45.7%	$30.8M-63.5%	$84.4M+648.1%	$11.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$81K
Total Equity	$34.2M-39.8%	$56.9M+126.4%	$25.1M-52.7%	$53.1M-70.5%	$179.9M+190.9%	$61.8M
Retained Earnings	-$591.8M-6.1%	-$557.9M+2.3%	-$570.9M-5.3%	-$542.2M-40.2%	-$386.8M-19.2%	-$324.4M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$45.6M-34.0%	$69.1M-20.0%	$86.3M+36.4%	$63.3M-12.8%	$72.6M-11.6%	$82.1M-5.4%	$86.8M-63.6%	$238.3M
Current Assets	$17.7M+68.0%	$10.5M-45.0%	$19.1M-37.3%	$30.5M-9.9%	$33.9M-10.6%	$37.9M+7.1%	$35.3M-56.8%	$81.7M
Cash & Equivalents	$1.4M+15.9%	$1.2M-32.3%	$1.8M-21.2%	$2.3M-29.2%	$3.2M-28.9%	$4.6M-17.0%	$5.5M-75.6%	$22.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$2.8M+90.7%	$1.4M-21.6%	$1.8M-39.9%	$3.1M+6.7%	$2.9M-30.4%	$4.1M+15.5%	$3.6M+185.5%	$1.3M
Goodwill	N/A	N/A	$0	N/A	$0	N/A	N/A	$26.6M
Total Liabilities	$10.9M-28.8%	$15.3M-21.9%	$19.6M+12.4%	$17.4M-63.4%	$47.5M+37.3%	$34.6M+2.6%	$33.7M-38.2%	$54.5M
Current Liabilities	$10.0M-11.6%	$11.3M+0.9%	$11.2M-28.0%	$15.6M-65.2%	$44.9M+39.4%	$32.2M+4.5%	$30.8M-39.4%	$50.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$34.2M-21.9%	$43.8M-23.0%	$56.9M+24.0%	$45.9M+82.6%	$25.1M-47.2%	$47.6M-10.4%	$53.1M-70.2%	$178.2M
Retained Earnings	-$591.8M-3.5%	-$571.8M-2.5%	-$557.9M-1.2%	-$551.0M+3.5%	-$570.9M-4.2%	-$548.0M-1.1%	-$542.2M-32.6%	-$408.9M

BTCM Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$26.9M+17.8%	-$32.7M-15.2%	-$28.4M+55.3%	-$63.6M-85.5%	-$34.3M-249.5%	-$9.8M
Capital Expenditures	$220K-81.3%	$1.2M-17.7%	$1.4M-89.6%	$13.8M-75.6%	$56.6M+25055.1%	$225K
Free Cash Flow	-$27.1M+20.0%	-$33.9M-13.7%	-$29.8M+61.4%	-$77.3M+14.9%	-$90.9M-805.8%	-$10.0M
Investing Cash Flow	$15.9M-44.9%	$28.9M+10.3%	$26.2M+7.3%	$24.4M+132.3%	-$75.4M-2364.4%	$3.3M
Financing Cash Flow	$10.7M+351.6%	$2.4M	N/A	$29.8M-61.7%	$77.7M+1941575.0%	$4K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BTCM Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	-46.9%-56.0pp	9.1%+2.0pp	7.1%+14.4pp	-7.3%-33.8pp	26.5%+19.6pp	7.0%
Operating Margin	-150.9%-126.5pp	-24.3%+34.1pp	-58.5%+98.7pp	-157.2%-74.8pp	-82.4%+701.4pp	-783.9%
Net Margin	-147.3%-184.0pp	36.7%+103.3pp	-66.6%+205.9pp	-272.5%-156.5pp	-116.1%+1379.7pp	-1495.7%
Return on Equity	-99.0%-120.2pp	21.2%+135.5pp	-114.2%+178.3pp	-292.5%-257.8pp	-34.7%+17.7pp	-52.4%
Return on Assets	-74.3%-88.3pp	14.0%+53.5pp	-39.6%+139.5pp	-179.0%-157.8pp	-21.2%+23.7pp	-45.0%
Current Ratio	1.76+0.1	1.70+1.0	0.75-0.4	1.15+0.0	1.10-3.5	4.56
Debt-to-Equity	0.32-0.0	0.34-1.5	1.89+1.3	0.63+0.1	0.49+0.5	0.00
FCF Margin	-118.0%-15.0pp	-103.0%-33.8pp	-69.2%+66.4pp	-135.6%+33.4pp	-169.0%+293.9pp	-462.9%

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.76+0.8	0.93-0.8	1.70-0.3	1.95+1.2	0.75-0.4	1.17+0.0	1.15-0.5	1.60
Debt-to-Equity	0.32-0.0	0.350.0	0.34-0.0	0.38-1.5	1.89+1.2	0.73+0.1	0.63+0.3	0.31
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Bit Mining Limited's annual revenue?

Bit Mining Limited (BTCM) reported $23.0M in total revenue for fiscal year 2025. This represents a -30.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Bit Mining Limited's revenue growing?

Bit Mining Limited (BTCM) revenue declined by 30.1% year-over-year, from $32.9M to $23.0M in fiscal year 2025.

Is Bit Mining Limited profitable?

No, Bit Mining Limited (BTCM) reported a net income of -$33.9M in fiscal year 2025, with a net profit margin of -147.3%.

What is Bit Mining Limited's EBITDA?

Bit Mining Limited (BTCM) had EBITDA of -$18.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Bit Mining Limited's gross margin?

Bit Mining Limited (BTCM) had a gross margin of -46.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Bit Mining Limited's operating margin?

Bit Mining Limited (BTCM) had an operating margin of -150.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Bit Mining Limited's net profit margin?

Bit Mining Limited (BTCM) had a net profit margin of -147.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Bit Mining Limited's return on equity (ROE)?

Bit Mining Limited (BTCM) has a return on equity of -99.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Bit Mining Limited's free cash flow?

Bit Mining Limited (BTCM) generated -$27.1M in free cash flow during fiscal year 2025. This represents a 20.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Bit Mining Limited's operating cash flow?

Bit Mining Limited (BTCM) generated -$26.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Bit Mining Limited's total assets?

Bit Mining Limited (BTCM) had $45.6M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Bit Mining Limited's capital expenditures?

Bit Mining Limited (BTCM) invested $220K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Bit Mining Limited's current ratio?

Bit Mining Limited (BTCM) had a current ratio of 1.76 as of fiscal year 2025, which is generally considered healthy.

What is Bit Mining Limited's debt-to-equity ratio?

Bit Mining Limited (BTCM) had a debt-to-equity ratio of 0.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Bit Mining Limited's return on assets (ROA)?

Bit Mining Limited (BTCM) had a return on assets of -74.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Bit Mining Limited's cash runway?

Based on fiscal year 2025 data, Bit Mining Limited (BTCM) had $1.4M in cash against an annual operating cash burn of $26.9M. This gives an estimated cash runway of approximately 1 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Bit Mining Limited's Altman Z-Score?

Bit Mining Limited (BTCM) has an Altman Z-Score of -17.29, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Bit Mining Limited's Piotroski F-Score?

Bit Mining Limited (BTCM) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Bit Mining Limited's earnings high quality?

Bit Mining Limited (BTCM) has an earnings quality ratio of 0.79x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Bit Mining Limited?

Bit Mining Limited (BTCM) scores 16 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.