BIT Mining (BIT Mining) Total Assets : $75.6 Mil (As of Sep. 2023)

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What is BIT Mining Total Assets?

BIT Mining's Total Assets for the quarter that ended in Sep. 2023 was $75.6 Mil.

During the past 12 months, BIT Mining's average Total Assets Growth Rate was -59.50% per year. During the past 3 years, the average Total Assets Growth Rate was 21.20% per year. During the past 5 years, the average Total Assets Growth Rate was -4.90% per year. During the past 10 years, the average Total Assets Growth Rate was 5.50% per year.

During the past 14 years, BIT Mining's highest 3-Year average Total Assets Growth Rate was 47.60%. The lowest was -48.40%. And the median was 14.10%.

Total Assets is connected with ROA %. BIT Mining's annualized ROA % for the quarter that ended in Sep. 2023 was -22.10%. Total Assets is also linked to Revenue through Asset Turnover. BIT Mining's Asset Turnover for the quarter that ended in Sep. 2023 was 0.98.

BIT Mining Total Assets Historical Data

The historical data trend for BIT Mining's Total Assets 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 Total Assets Chart

BIT Mining Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Total Assets

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99.44

72.10

294.23

86.80

77.95

BIT Mining Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Total Assets	Get a 7-Day Free Trial															86.80	88.17	82.15	75.61	77.95

BIT Mining Total Assets Calculation

Total Assets are all the assets a company owns.

From the capital sources of the assets, some of the assets are funded through shareholder's paid in capital and retained earnings of the business. Others are funded through borrowed money.

BIT Mining's Total Assets for the fiscal year that ended in Dec. 2022 is calculated as

Total Assets	=	Total Equity (A: Dec. 2022 )	+	Total Liabilities (A: Dec. 2022 )
	=	53.128	+	33.676
	=	86.8

BIT Mining's Total Assets for the quarter that ended in Sep. 2023 is calculated as

Total Assets	=	Total Equity (Q: Sep. 2023 )	+	Total Liabilities (Q: Sep. 2023 )
	=	43.188	+	32.424
	=	75.6

BIT Mining (NYSE:BTCM) Total Assets Explanation

Total Assets is connected with ROA %.

BIT Mining's annualized ROA % for the quarter that ended in Sep. 2023 is

ROA %	=	Net Income (Q: Sep. 2023 )	/	( (Total Assets (Q: Jun. 2023 )	+	Total Assets (Q: Sep. 2023 ))	/ count )
	=	-17.436	/	( (82.148	+	75.612)	/ 2 )
	=	-17.436	/	78.88
	=	-22.10 %

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

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Total Assets is linked to total revenue through Asset Turnover.

BIT Mining's Asset Turnover for the quarter that ended in Sep. 2023 is

	Asset Turnover
=	Revenue (Q: Sep. 2023 )	/	( (Total Assets (Q: Jun. 2023 )	+	Total Assets (Q: Sep. 2023 ))	/ count )
=	77.017	/	( (82.148	+	75.612)	/ 2 )
=	77.017	/	78.88
=	0.98

Therefore, if a company grows its Total Assets faster than its Revenue, the Asset Turnover will decline. This might be a warning sign for the business.

BIT Mining Total Assets 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 » Total Assets

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.