BIT Mining (BIT Mining) Cash And Cash Equivalents : $2.6 Mil (As of Sep. 2023)

View and export this data going back to 2013. Start your Free Trial

What is BIT Mining Cash And Cash Equivalents?

BIT Mining's quarterly cash and cash equivalents declined from Mar. 2023 ($4.62 Mil) to Jun. 2023 ($4.56 Mil) but then stayed the same from Jun. 2023 ($4.56 Mil) to Sep. 2023 ($2.64 Mil).

BIT Mining's annual cash and cash equivalents declined from Dec. 2020 ($47.31 Mil) to Dec. 2021 ($17.67 Mil) and declined from Dec. 2021 ($17.67 Mil) to Dec. 2022 ($5.45 Mil).

BIT Mining Cash And Cash Equivalents Historical Data

The historical data trend for BIT Mining's Cash And Cash Equivalents can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

BIT Mining Cash And Cash Equivalents Chart

BIT Mining Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cash And Cash Equivalents

Get a 7-Day Free Trial

51.63

47.31

17.67

5.45

3.58

BIT Mining Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Cash And Cash Equivalents	Get a 7-Day Free Trial															5.45	4.62	4.56	2.64	3.58

BIT Mining Cash And Cash Equivalents Calculation

Cash and cash equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash, such as money market holdings, short-term government bonds or Treasury bills, marketable securities and commercial paper.

BIT Mining (NYSE:BTCM) Cash And Cash Equivalents Explanation

A high number means either:

1) The company has competitive advantage generating lots of cash

2) Just sold a business or bonds (not necessarily good)

A low stockpile of cash usually means poor to mediocre economics.

There are 3 ways to create large cash reserve.

1) Sell new bonds or equity to public

2) Sell business or asset

3) It has an ongoing business generating more cash than it burns (usually means durable competitive advantage)

When a company is suffering a short term problem, Buffett looks at cash or marketable securities to see whether it has the financial strength to ride it out.

Important: Lots of cash and marketable securities + little debt = good chance that the business will sail on through tough times.

Test to see what is creating cash by looking at past 7 yrs of balance sheets. This will reveal how the cash was created.

Be Aware

Depreciation estimates make the calculation of net income susceptible to management's accounting choices. These choices can be either overly aggressive or overly conservative.

BIT Mining Cash And Cash Equivalents Related Terms

Thank you for viewing the detailed overview of BIT Mining's Cash And Cash Equivalents provided by GuruFocus.com. Please click on the following links to see related term pages.

BIT Mining (BIT Mining) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » BIT Mining Ltd (NYSE:BTCM) » Definitions » Cash And Cash Equivalents

Comparable Companies

Traded in Other Exchanges

50C0:Germany

Address

428 South Seiberling Street, Akron, OH, USA, 44306

Website

https://www.btcm.group

BIT Mining Ltd is a cryptocurrency mining company, with a long-term strategy to encompass the whole cryptocurrency value chain. Its business covers cryptocurrency mining, mining pool, data center operation and mining machine manufacturing. The company has significant and growing deployed Bitcoin mining machine capacity, owns three hydroelectric cryptocurrency mines with combined power capacity of 435MW and the entire mining pool business operated under BTC.com, including the domain name and wallet. It has also entered into a definitive agreement to acquire a 7 nanometer cryptocurrency mining machine manufacturer "Bee Computing", completing its vertical integration, making self-sufficient while also strengthening competitive position.