BIT Mining (BIT Mining) Operating Income : $-17.3 Mil (TTM As of Sep. 2023)

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What is BIT Mining Operating Income?

BIT Mining's Operating Income for the three months ended in Sep. 2023 was $-4.3 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2023 was $-17.3 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. BIT Mining's Operating Income for the three months ended in Sep. 2023 was $-4.3 Mil. BIT Mining's Revenue for the three months ended in Sep. 2023 was $77.0 Mil. Therefore, BIT Mining's Operating Margin % for the quarter that ended in Sep. 2023 was -5.58%.

Good Sign:

BIT Mining Ltd operating margin is expanding. Margin expansion is usually a good sign.

BIT Mining's 5-Year average Growth Rate for Operating Margin % was 62.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. BIT Mining's annualized ROC % for the quarter that ended in Sep. 2023 was -36.58%. BIT Mining's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was -52.48%.

BIT Mining Operating Income Historical Data

The historical data trend for BIT Mining's Operating Income 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 Operating Income Chart

BIT Mining Annual Data

Trend

Dec14

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Dec23

Operating Income

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-27.85

-16.99

-38.49

-41.93

-17.73

BIT Mining Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															-20.55	-6.30	-3.76	-4.30	-2.95

BIT Mining Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Sep. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-17.3 Mil.

BIT Mining (NYSE:BTCM) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

BIT Mining's annualized ROC % for the quarter that ended in Sep. 2023 is calculated as:

	ROC % (Q: Sep. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2023 )	+	Invested Capital (Q: Sep. 2023 ))	/ count )
=	-17.18 * ( 1 - 0% )	/	( (49.338	+	44.602)	/ 2 )
=	-17.18	/	46.97
=	-36.58 %

where

	Invested Capital		(Q: Jun. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	82.148	-	28.249	-	( 4.561	-	max(0, 32.226	-	37.853	+	4.561	))
=	49.338

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	75.612	-	28.369	-	( 2.641	-	max(0, 29.831	-	34.925	+	2.641	))
=	44.602

Note: The Operating Income data used here is four times the quarterly (Sep. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

BIT Mining's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2023		Q: Sep. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-17.18	/	( ( (32.104 + max(-4.345, 0))	+	(29.456 + max(3.915, 0)) )	/	2 )
=	-17.18	/	( ( 32.104	+	33.371 )	/	2 )
=	-17.18	/	32.7375
=	-52.48 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4.13	+	0	+	22.542)	-	(28.249	+	2.502	+	0.266)
=	-4.345

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3.772	+	0	+	28.512)	-	(28.369	+	0	+	0)
=	3.915

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

BIT Mining's Operating Margin % for the quarter that ended in Sep. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2023 )	/	Revenue (Q: Sep. 2023 )
	=	-4.295	/	77.017
	=	-5.58 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

BIT Mining Operating Income 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 » Operating Income

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.