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BIT Mining Limited (BTCM)

$2.75
-0.09 (-3.17%)
Market Cap

$4.4B

P/E Ratio

363.4

Div Yield

0.00%

52W Range

$1.28 - $6.25

Company Profile

At a glance

BIT Mining Limited (NYSE: BTCM) is undergoing a profound strategic transformation, pivoting from its historical roots in online lottery services to become a technology-driven cryptocurrency infrastructure company with a significant focus on the Solana ecosystem.

The company is actively building a Solana (SOL) treasury, launching validator nodes, and introducing DOLAI, a USD-backed stablecoin on Solana, signaling a commitment to next-generation blockchain infrastructure and decentralized finance.

While historical financial performance was marked by volatility and a complete halt in revenue during its lottery era, recent financials show a return to positive net income in 2024, albeit with declining revenue and negative operating cash flow, highlighting the high-risk, high-reward nature of its current crypto-centric strategy.

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