<a href="https://laohu8.com/S/BTCM">BIT Mining</a> Reports $13.9 Million Net Loss for H1 2025, Down from $18.9 Million Net Income in H1 2024; Significant Decline in Gross Profit and Cryptocurrency Asset Value
BIT Mining Ltd. has announced its financial results for the six months ended June 30, 2025. The company reported a significant decline in financial performance compared to the same period in 2024. Revenues decreased from a gross profit of $4.4 million in 2024 to a gross loss of $5.3 million in 2025. The operating loss escalated to $13.9 million from $0.5 million, and the non-GAAP adjusted operating loss was $13.1 million compared to a non-GAAP adjusted operating income of $0.5 million in the previous year. Net loss attributable to BIT Mining reached $13.9 million, a stark contrast to the net income of $0.02 million reported in the same period last year. The non-GAAP adjusted net loss was $13.1 million, compared to a non-GAAP adjusted net income of $0.8 million in 2024. This decline is primarily attributed to a decrease of $18.7 million in gain on disposal of discontinued operations, a shift from a gross profit to a gross loss, and a negative impact of $4.3 million due to changes in the fair value of cryptocurrency assets. The company reported basic and diluted losses per American Depositary Share of $0.87 for the period. Cash and cash equivalents stood at $1.2 million as of June 30, 2025, down from $1.8 million as of December 31, 2024. Cryptocurrency assets were reported at $3.6 million as of June 30, 2025.
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