AKRON,
Ohio, March 27, 2025 /PRNewswire/ -- BIT Mining
Limited (NYSE: BTCM) ("BIT Mining" or "the Company" or "BTCM"), a
leading technology-driven cryptocurrency mining
company, today reported its monthly mining production and other
operational updates for the month of February 2025.
Mining Production and Operations
Updates:
- In February, BIT Mining produced a total of
42.56 Bitcoin (BTC), with 36.854 BTC generated
for hosted clients and 5.708 BTC self-mined.
- The Company also produced
2,013,292.9 Dogecoin (DOGE) and
556.7 Litecoin (LTC).
- Total exahash capacity for February was 2,588PH/s.
- Average days per self-mined BTC was 4.5 days.
- Cost per BTC mined was $60,960.
CEO's Message:
Xianfeng Yang, CEO of BIT Mining,
commented, "February was a productive month for BTCM, and by
leveraging our proprietary mining machines, we're able to improve
efficiency and reduce costs. Beyond Bitcoin, we
continue to achieve profitability in mining Litecoin
and Dogecoin, boosting our operational efficiency and
diversifying our revenue streams. We are committed to maximizing
shareholder value by maintaining our position at the forefront of
the evolving digital asset mining landscape while continuing to
scale our core Bitcoin operations."
Infrastructure Update:
Following the successful completion of phase one of the
Ethiopia data center acquisition
in late 2024, the Company is on track for full completion in the
coming weeks. Once completed, the new site is expected to
further enhance the Company's operational results.
About BIT Mining
BIT Mining (NYSE: BTCM) is a leading technology-driven
cryptocurrency mining company with operations in
cryptocurrency mining, data center operation and
mining machine manufacturing. The Company is strategically creating
long-term value across the industry with its
cryptocurrency ecosystem. Anchored by its
cost-efficient data centers that strengthen its profitability with
steady cash flow, the Company also conducts self-mining operations
that enhance its marketplace resilience by leveraging
self-developed and purchased mining machines to seamlessly adapt to
dynamic cryptocurrency pricing. The Company also owns
7-nanometer BTC chips and has strong capabilities in the
development of LTC/DOGE miners and ETC miners.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and as defined in the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "target," "going forward," "outlook" and similar
statements. Forward looking statements in this press release
include, but are not limited to, statements on the future
development of the cryptocurrency mining industry,
particularly Litecoin and Dogecoin, and
of the Company itself. Such statements are based upon management's
current expectations and current market and operating conditions
and relate to events that involve known or unknown risks,
uncertainties and other factors, all of which are difficult to
predict and many of which are beyond the Company's control, which
may cause the Company's actual results, performance or achievements
to differ materially from those in the forward-looking statements.
Important factors that could cause BIT Mining's actual results to
differ materially from those indicated in the forward-looking
statements include, but are not limited to, any adverse change in
the business and financial performance of the Company or the
landscape of the cryptocurrency mining industry.
Further information regarding these and other risks, uncertainties
or factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. The Company does not undertake
any obligation to update any forward-looking statement as a result
of new information, future events or otherwise, except as required
under law.
Media Contact
Bitmining@mgroupsc.com
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SOURCE BIT Mining Limited
