BIT Mining (BIT Mining) COGS-to-Revenue : 0.98 (As of Sep. 2023)

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What is BIT Mining COGS-to-Revenue?

BIT Mining's Cost of Goods Sold for the three months ended in Sep. 2023 was $75.8 Mil. Its Revenue for the three months ended in Sep. 2023 was $77.0 Mil.

BIT Mining's COGS to Revenue for the three months ended in Sep. 2023 was 0.98.

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin. BIT Mining's Gross Margin % for the three months ended in Sep. 2023 was 1.52%.

BIT Mining COGS-to-Revenue Historical Data

The historical data trend for BIT Mining's COGS-to-Revenue 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.

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BIT Mining COGS-to-Revenue Chart

BIT Mining Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

COGS-to-Revenue

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1.53

0.93

1.00

1.02

0.91

BIT Mining Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
COGS-to-Revenue	Get a 7-Day Free Trial															1.16	0.98	0.98	0.98	0.86

BIT Mining COGS-to-Revenue Calculation

BIT Mining's COGS to Revenue for the fiscal year that ended in Dec. 2022 is calculated as

COGS to Revenue	=	Cost of Goods Sold	/	Revenue
	=	660.214	/	650.227
	=	1.02

BIT Mining's COGS to Revenue for the quarter that ended in Sep. 2023 is calculated as

COGS to Revenue	=	Cost of Goods Sold	/	Revenue
	=	75.843	/	77.017
	=	0.98

BIT Mining (NYSE:BTCM) COGS-to-Revenue Explanation

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin.

BIT Mining's Gross Margin % for the three months ended in Sep. 2023 is calculated as:

Gross Margin %	=	1	-	COGS to Revenue
	=	1	-	Cost of Goods Sold / Revenue
	=	1	-	75.843 / 77.017
	=	1.52 %

A company that has a moat can usually maintain or even expand their Gross Margin. A company can increase its Gross Margin in two ways. It can increase the prices of the goods it sells and keeps its Cost of Goods Sold unchanged. Or it can keep the sales price unchanged and squeeze its suppliers to reduce the Cost of Goods Sold. Warren Buffett believes businesses with the power to raise prices have moats.

BIT Mining COGS-to-Revenue Related Terms

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BIT Mining (BIT Mining) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » BIT Mining Ltd (NYSE:BTCM) » Definitions » COGS-to-Revenue

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.