BIT Mining (BIT Mining) ROCE % : -165.97% (As of Dec. 2023)

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What is BIT Mining ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. BIT Mining's annualized ROCE % for the quarter that ended in Dec. 2023 was -165.97%.

BIT Mining ROCE % Historical Data

The historical data trend for BIT Mining's ROCE % 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 ROCE % Chart

BIT Mining Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-59.52

-31.30

-28.91

-59.60

-60.70

BIT Mining Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															-159.17	-36.52	-7.35	-35.90	-165.97

BIT Mining ROCE % Calculation

BIT Mining's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	-25.384	/	( ( (86.804 - 30.839)	+	(72.596 - 44.926) )	/ 2 )
	=	-25.384	/	( (55.965	+	27.67)	/ 2 )
	=	-25.384	/	41.8175
	=	-60.70 %

BIT Mining's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	-60.952	/	( ( (75.612 - 29.831)	+	(72.596 - 44.926) )	/ 2 )
	=	-60.952	/	( ( 45.781	+	27.67 )	/ 2 )
	=	-60.952	/	36.7255
	=	-165.97 %

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

BIT Mining (NYSE:BTCM) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

BIT Mining ROCE % 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 » ROCE %

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.