BIT Mining (BIT Mining) Retained Earnings : $-552.4 Mil (As of Sep. 2023)

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What is BIT Mining Retained Earnings?

Retained earnings is the accumulated portion of net income that is not distributed to shareholders. BIT Mining's retained earnings for the quarter that ended in Sep. 2023 was $-552.4 Mil.

BIT Mining's quarterly retained earnings declined from Mar. 2023 ($-547.1 Mil) to Jun. 2023 ($-548.0 Mil) and declined from Jun. 2023 ($-548.0 Mil) to Sep. 2023 ($-552.4 Mil).

BIT Mining's annual retained earnings declined from Dec. 2020 ($-324.4 Mil) to Dec. 2021 ($-386.8 Mil) and declined from Dec. 2021 ($-386.8 Mil) to Dec. 2022 ($-542.2 Mil).

BIT Mining Retained Earnings Historical Data

The historical data trend for BIT Mining's Retained Earnings 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 Retained Earnings Chart

BIT Mining Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Retained Earnings

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-280.23

-324.35

-386.75

-542.17

-556.60

BIT Mining Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Retained Earnings	Get a 7-Day Free Trial															-542.17	-547.09	-548.02	-552.38	-556.60

BIT Mining Retained Earnings Calculation

Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.

Of course, if a company loses, it is called retained losses, or accumulated losses.

BIT Mining (NYSE:BTCM) Retained Earnings Explanation

Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.

For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.

If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.

Of course, many companies with negative retained earnings have indeed lost money in the past.

Retained Earnings: Warren Buffett's Secret.

One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.

If the company loses more than it has accumulated, retained earnings is negative.

If a company isn't adding to its retained earnings, it isn't growing its net worth.

Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.

Microsoft is negative because it chose to buyback stock and pay dividends.

The more earnings retained, the faster it grows and increases growth rate for future earnings.

BIT Mining (BIT Mining) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » BIT Mining Ltd (NYSE:BTCM) » Definitions » Retained Earnings

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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.