Technology

BIT Mining Limited Announces Unaudited Financial Results for the Fourth Quarter and Full Year ended December 31, 2024

Published

2 years ago

February 28, 2025

AKRON, Ohio, Feb. 28, 2025 /PRNewswire/ — BIT Mining Limited (NYSE: BTCM) (“BIT Mining,” “the Company,” “we,” “us,” or “our company”), a leading technology-driven cryptocurrency mining company, today reported its unaudited financial results for the fourth quarter ended December 31, 2024.

On December 9, 2024, the Company completed the first closing of acquisition of cryptocurrency mining data centers and Bitcoin (“BTC”) mining machines in Ethiopia. After the first closing of acquisition, the Company acquired 51% equity interests in a cryptocurrency mining data center in Ethiopia (the “Ethiopia data center”). The acquisition of the Ethiopia data center represents a development strategy to focus on data center globally and has a major effect on the Company’s results of operations.

Xianfeng Yang, Chief Executive Officer of BIT Mining, commented, “We are pleased to present robust and growth-oriented financial results for the fourth quarter. Throughout this period, we have implemented a range of initiatives to enhance operational efficiency and continuously refine our business structure, all of which have produced favorable outcomes. We successfully completed the first closing of the Ethiopia data center acquisition in December of 2024. The remaining mining facilities under construction are on track to be operational by mid second quarter of 2025, and the mining equipments we have procured will soon be delivered to the site. These advancements are expected to generate stronger, more stable revenue streams moving forward. We are confident in our future trajectory and remain fully committed to pioneering new opportunities that will create lasting value for our shareholders.”

Fourth Quarter 2024 Highlights for Continuing Operations

Revenues were US$8.8 million for the fourth quarter of 2024, representing a decrease of US$1.6 million from US$10.4 million for the fourth quarter of 2023, and an increase of US$4.0 million from US$4.8 million for the third quarter of 2024.Operating loss was US$2.5 million for the fourth quarter of 2024, representing a significant decrease of US$11.8 million from US$14.3 million for the fourth quarter of 2023, and a decrease of US$2.3 million from US$4.8 million for the third quarter of 2024.Non-GAAP operating loss1 was US$2.3 million for the fourth quarter of 2024, compared with non-GAAP operating loss of US$4.0 million for the fourth quarter of 2023, and non-GAAP operating loss of US$4.8 million for the third quarter of 2024.Net loss attributable to BIT Mining was US$2.1 million for the fourth quarter of 2024, compared with net loss attributable to BIT Mining of US$15.5 million for the fourth quarter of 2023, and net loss attributable to BIT Mining of US$4.8 million for the third quarter of 2024.Non-GAAP net loss1 attributable to BIT Mining was US$2.0 million for the fourth quarter of 2024, compared with non-GAAP net loss attributable to BIT Mining of US$4.4 million for the fourth quarter of 2023, and non-GAAP net loss attributable to BIT Mining of US$4.8 million for the third quarter of 2024.Basic and diluted losses per American Depositary Share (“ADS”)2 attributable to BIT Mining Limited including from continuing operations and discontinued operations for the fourth quarter of 2024 were US$0.16.Non-GAAP basic and diluted losses per ADS2 attributable to BIT Mining Limited including from continuing operations and discontinued operations for the fourth quarter of 2024 were US$0.16.

Full Year 2024 Highlights for Continuing Operations

Revenues were US$32.9 million for the full year 2024, compared with revenues of US$43.1 million for the full year 2023.Operating loss was US$7.8 million for the full year 2024, compared with operating loss of US$25.2 million for the full year 2023.Non-GAAP operating loss1 was US$6.6 million for the full year 2024, compared with non-GAAP operating loss of US$14.2 million for the full year 2023.Net loss attributable to BIT Mining was US$6.9 million for the full year 2024, compared with net loss attributable to BIT Mining of US$25.4 million for the full year 2023.Non-GAAP net loss1 attributable to BIT Mining was US$6.1 million for the full year 2024, compared with non-GAAP net loss attributable to BIT Mining of US$13.5 million for the full year 2023.Basic and diluted earnings per ADS2 attributable to BIT Mining Limited including from continuing operations and discontinued operations for the full year 2024 were US$1.03.Non-GAAP basic and diluted earnings per ADS2 attributable to BIT Mining Limited including from continuing operations and discontinued operations for the full year 2024 were US$1.09.

Full Year 2024 Highlights for Discontinued Operations

Net income from discontinued operations, net of applicable income taxes was US$18.9 million for the full year 2024, compared with net loss from discontinued operations, net of applicable income taxes of US$3.3 million for the full year 2023. The year-over-year increase of US$22.2 million was mainly attributable to the gain on disposal of discontinued operations, net of applicable income taxes of US$18.7 million for the full year 2024.

1 Non-GAAP financial measures exclude the impact of share-based compensation expenses, legal contingencies, changes in gain from short-term investments, gain from disposal of long-term investments, impairment of long-term investments and changes in fair value of derivative instruments. Reconciliations of non-GAAP financial measures to U.S. GAAP financial measures are set forth in the table at the end of this release.

2 American Depositary Shares, which are traded on the NYSE. Each ADS represents one hundred Class A ordinary shares of the Company.

Fourth Quarter 2024 Financial Results for Continuing Operations

Revenues

Revenues were mainly comprised of US$5.0 million from the self-mining business and US$3.8 million from the data center business.

Self-mining

As of today, the total hash rate capacity of our DOGE/LTC mining machines in operation is approximately 13,793.00 GH/s. For the three months ended December 31, 2024, we produced 16.1 million DOGE and 4,578 LTC from our DOGE/LTC cryptocurrency mining operations and recognized revenue of approximately US$4.5 million.

Considerable uncertainty persists in the market despite the recent modest recovery and growth in cryptocurrency asset prices. Facing this current environment, we remain determined to improve our quality and efficiency. As of today, the total hash rate capacity of our BTC mining machines in operation is approximately 395.00 PH/s. For the three months ended December 31, 2024, we produced 3.16 BTC from our BTC cryptocurrency mining operations and recognized revenue of approximately US$0.3 million. Cryptocurrency mining revenue from other cryptocurrencies, such as ETC, BEL, JKC, PEP and LKY, totaled approximately US$0.2 million.

Data Center Operation

During the fourth quarter of 2024, our 82.5 megawatt space (the “82.5 Megawatt Space”) at the Ohio Mining Site recognized approximately $3.8 million in service fee revenue, representing an increase of US$2.1 million compared with the third quarter of 2024, which was primarily due to the increase in new customers leading to an increase in electricity consumption.

Overall

Revenues were US$8.8 million for the fourth quarter of 2024, representing a decrease of US$1.6 million, or 15.4%, from US$10.4 million for the fourth quarter of 2023, and an increase of US$4.0 million, or 83.3%, from US$4.8 million for the third quarter of 2024. The year-over-year decrease was mainly attributable to higher computing power of the whole network in the fourth quarter of 2024 compared with the computing power in the fourth quarter of 2023, resulting in an increased difficulty in cryptocurrency mining activities. The sequential increase was mainly attributable to the sharp increase in cryptocurrency prices.

Operating Costs and Expenses

Operating costs and expenses were US$12.9 million for the fourth quarter of 2024, representing a decrease of US$0.8 million, or 5.8%, from US$13.7 million for the fourth quarter of 2023, and an increase of US$3.9 million, or 43.3%, from US$9.0 million for the third quarter of 2024.

Cost of revenue was US$8.5 million for the fourth quarter of 2024, representing a decrease of US$1.3 million, or 13.3%, from US$9.8 million for the fourth quarter of 2023, and an increase of US$2.1 million, or 32.8%, from US$6.4 million for the third quarter of 2024. The year-over-year decrease was mainly attributable to the (i) decrease of US$0.9 million in hosting fee due to the termination of cooperation between us and a third party data center in Texas; and (ii) decrease of US$0.6 million in salary caused by staff turnover and reduced overseas deployment subsidies. The sequential increase was mainly attributable to the increase in electricity consumption caused by the new customers and the depreciation of the newly purchased mining machines in the fourth quarter of 2024. Cost of revenue was comprised of the direct cost of revenue of US$5.8 million and depreciation and amortization expenses of US$2.7 million. The direct cost of revenue mainly included direct costs relating to (i) the cryptocurrency mining business of US$0.1 million, and (ii) the data center business of US$5.7 million.

Sales and marketing expenses were US$0.01 million for the fourth quarter of 2024, compared with US$0.03 million for the fourth quarter of 2023 and US$0.01 million for the third quarter of 2024.

General and administrative expenses were US$4.4 million for the fourth quarter of 2024, representing an increase of US$0.6 million, or 15.8%, from US$3.8 million for the fourth quarter of 2023 and an increase of US$1.9 million, or 76.0%, from US$2.5 million for the third quarter of 2024. The year-over-year increase was mainly due to (i) an increase of US$0.4 million of travel and business entertainment expenses related to the Ethiopia acquisition, and (ii) an increase of USD$0.2 million from audit and audit-related professional service fee. The sequential increase was mainly due to (i) an increase of US$0.3 million in professional service fee related to our at-the-market offering, (ii) an increase of US$0.2 million from share-based payment, (iii) an increase of US$0.3 million from year-end bonuses, and (iv) an increase of US$0.5 million from audit and audit-related fees.

Other Operating Expenses

Other operating expenses were US$0.5 million for the fourth quarter of 2024, representing a sharp decrease of US$11.8 million, or 95.9%, from US$12.3 million for the fourth quarter of 2023 and an increase of US$0.5 million from nil for the third quarter of 2024. The sharp year-over-year decrease was mainly due to (i) a decrease of credit loss provision related to other receivables and prepayment of US$1.9 million and (ii) a decrease of US$10.0 million in legal contingencies accrued for the FCPA investigations. The sequential increase was mainly due to an increase of credit loss provision for prepayment of US$0.5 million.

Net Gain on Disposal of Cryptocurrency Assets

Net gain on disposal of cryptocurrency assets was US$1.5 million for the fourth quarter of 2023, which was mainly due to fluctuating market prices for cryptocurrency assets by using first-in-first-out (“FIFO”) to calculate the cost of disposition. Effective January 1, 2024, the Company adopted ASU 2023-08, which requires cryptocurrency assets to be measured at fair value. Therefore, there was no gain or loss on disposal of cryptocurrency assets for the third and fourth quarter of 2024.

Impairment of Cryptocurrency Assets

Impairment of cryptocurrency assets was US$0.2 million for the fourth quarter of 2023, mainly due to the provisions for impairment of cryptocurrency assets held as a result of fluctuations in cryptocurrency prices. Upon adoption of ASU 2023-08 on January 1, 2024, there was no impairment of cryptocurrency assets for the third and fourth quarter of 2024.

Changes in Fair Value of Cryptocurrency Assets

Changes in fair value of cryptocurrency assets were US$1.8 million for the fourth quarter of 2024, and US$0.6 million for the third quarter of 2024. The difference was due to the remeasurement on the fair value of the cryptocurrency assets held as we adopted ASU 2023-08 on January 1, 2024, while the accounting treatment was different for the fourth quarter of 2023.

Operating Loss from Continuing Operations

Operating loss from continuing operations was US$2.5 million for the fourth quarter of 2024, compared with operating loss from continuing operations of US$14.3 million for the fourth quarter of 2023, and operating loss from continuing operations of US$4.8 million for the third quarter of 2024.

Non-GAAP operating loss from continuing operations was US$2.3 million for the fourth quarter of 2024, compared with non-GAAP operating loss from continuing operations of US$4.0 million for the fourth quarter of 2023, and non-GAAP operating loss from continuing operations of US$4.8 million for the third quarter of 2024. The year-over-year decrease in non-GAAP operating loss from continuing operations was mainly due to the decrease of credit loss provision related to other receivables and prepayment of US$1.9 million. The sequential decrease in non-GAAP operating loss from continuing operations was mainly due to a positive change of US$2.4 million in changes in fair value of cryptocurrency assets.

Net Loss Attributable to BIT Mining Including from Continuing Operations and Discontinued Operations

Net loss attributable to BIT Mining was US$2.1 million for the fourth quarter of 2024, compared with net loss attributable to BIT Mining of US$19.0 million for the fourth quarter of 2023, and net loss attributable to BIT Mining of US$4.8 million for the third quarter of 2024. The year-over-year decrease in net loss attributable to BIT Mining was mainly due to (i) a decrease of credit loss provision related to other receivables and prepayment of US$1.9 million, (ii) a decrease of US$10.0 million in legal contingencies accrued for the FCPA investigations, (iii) a decrease of US$1.4 million in impairment of long-term investments, and (iv) a decrease of US$3.4 million in loss from discontinued operations. The sequential decrease in net loss attributable to BIT Mining was mainly due to a positive change of US$2.4 million in changes in fair value of cryptocurrency assets.

Non-GAAP net loss attributable to BIT Mining was US$2.0 million for the fourth quarter of 2024, compared with non-GAAP net loss attributable to BIT Mining of US$7.8 million for the fourth quarter of 2023, and non-GAAP net loss attributable to BIT Mining of US$4.8 million for the third quarter of 2024. The year-over-year decrease in non-GAAP net loss attributable to BIT Mining was mainly due to (i) a decrease of credit loss provision related to other receivables and prepayment of US$1.9 million and (ii) a decrease of US$3.4 million in loss from discontinued operations. The sequential decrease in non-GAAP net loss attributable to BIT Mining was mainly due to a positive change of US$2.4 million in changes in fair value of cryptocurrency assets.

Cash and Cash Equivalents

As of December 31, 2024, the Company had cash and cash equivalents of US$1.8 million, compared with cash and cash equivalents of US$3.2 million as of December 31, 2023.

Cryptocurrency Assets

As of December 31, 2024, the Company had cryptocurrency assets of US$9.6 million in aggregate, which comprised of 19.06 BTC, 1,246 ETH, 7.6 million DOGE, 0.9 million USDT and various other cryptocurrency assets, which were generated from its cryptocurrency mining business.

About BIT Mining Limited

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.

Safe Harbor Statements

This news 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. 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. 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.

About Non-GAAP Financial Measures

As a supplement to net loss, we use the non-GAAP financial measure of adjusted net loss which is U.S. GAAP net loss as adjusted to exclude the impact of share-based compensation expenses, legal contingencies, changes in gain from short-term investments, gain from disposal of long-term investments, impairment of long-term investments and changes in fair value of derivative instruments. All adjustments are non-cash and we believe they are not reflective of our general business performance. This non-GAAP financial measure is provided as additional information to help our investors compare business trends among different reporting periods on a consistent basis and to enhance investors’ overall understanding of our current financial performance and prospects for the future. This non-GAAP financial measure should not be considered in addition to or as a substitute for or superior to U.S. GAAP net loss. In addition, our definition of adjusted net loss may be different from the definition of such term used by other companies, and therefore comparability may be limited.

For more information:

BIT Mining Limited
ir@btcm.group
ir.btcm.group
www.btcm.group

Piacente Financial Communications
Brandi Piacente
Tel: +1 (212) 481-2050
Email: BITMining@thepiacentegroup.com

BIT Mining Limited

Condensed Consolidated Balance Sheets

(Amounts in thousands of U.S. dollars (“US$”), except for number of shares)

(Unaudited)

December 31,
2023

December 31,
2024

ASSETS

Current assets:

Cash and cash equivalents

3,244

1,808

Accounts receivable

2,876

1,913

Prepayments and other current assets

6,298

5,583

Cryptocurrency assets

7,625

9,581

Current assets of discontinued operations

13,813

–

Total current assets

33,856

18,885

Non-current assets:

Property and equipment, net

22,833

19,780

Intangible assets, net

2,033

7,633

Deposits

2,466

2,462

Long-term investments

4,173

3,775

Right-of-use assets

4,273

2,627

Long-term prepayments and other non-current assets

2,962

27,406

Total non-current assets

38,740

63,683

TOTAL ASSETS

72,596

82,568

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

821

Accrued payroll and welfare payable

410

306

Accrued expenses and other current liabilities

14,333

6,958

Operating lease liabilities – current

1,681

1,477

Income tax payable

Current liabilities of discontinued operations

27,605

–

Total current liabilities

44,926

8,831

Non-current liabilities:

Other non-current liabilities

–

776

Operating lease liabilities – non-current

2,538

1,071

Total non-current liabilities

2,538

1,847

TOTAL LIABILITIES

47,464

10,678

Shareholders’ equity:

Class A ordinary shares, par value US$0.00005 per share; 1,599,935,000 shares
authorized as of December 31, 2023 and December 31, 2024; 1,111,232,210 and
1,595,399,890 shares issued and outstanding as of December 31, 2023 and
December 31, 2024, respectively

Class A preference shares, par value US$0.00005 per share; 65,000 shares
authorized as of December 31, 2023 and December 31, 2024; 65,000 shares
issued and outstanding as of December 31, 2023 and December 31, 2024

–

Class B ordinary shares, par value US$0.00005 per share; 400,000,000 shares
authorized as of December 31, 2023 and December 31, 2024; 99 shares issued
and outstanding as of December 31, 2023 and December 31, 2024

–

Additional paid-in capital

621,837

640,723

Treasury shares

(21,604)

Accumulated deficit and statutory reserve

(570,879)

(557,915)

Accumulated other comprehensive loss

(4,276)

(4,394)

Total BIT Mining Limited shareholders’ equity

25,132

56,888

Non-controlling interests

–

15,002

Total shareholders’ equity

25,132

71,890

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

72,596

82,568

BIT Mining Limited

Condensed Consolidated Statements of Comprehensive (Loss) Income

(Amounts in thousands of U.S. dollars (“US$”),

except for number of shares, per share (or ADS) data)

(Unaudited)

Three Months Ended

Twelve Months Ended

December 31,
2023

September 30,
2024

December 31,
2024

December 31,
2023

December 31,
2024

Revenues

10,407

4,770

8,793

43,101

32,922

Operating costs and expenses:

Cost of revenue

(9,843)

(6,448)

(8,506)

(40,055)

(29,938)

Sales and marketing expenses

(31)

(16)

(153)

(54)

General and administrative
expenses

(3,820)

(2,513)

(4,375)

(18,465)

(13,609)

Service development expenses

–

(874)

(69)

Total operating costs and expenses

(13,694)

(8,977)

(12,897)

(59,547)

(43,670)

Other operating income

196

180

214

Other operating expenses

(12,345)

(2)

(481)

(13,642)

(536)

Net gain on disposal of
cryptocurrency assets

1,531

–

7,074

–

Impairment of cryptocurrency
assets

(242)

–

(2,359)

–

Changes in fair value of
cryptocurrency assets

–

(601)

1,830

–

3,203

Changes in fair value of
payables settled by
cryptocurrency assets

–

Operating loss from continuing
operations

(14,297)

(4,799)

(2,522)

(25,193)

(7,830)

Other income (expense), net

289

(21)

253

691

370

Interest income

–

242

Loss from equity method
investments

(620)

–

(153)

(295)

(20)

Impairment of long-term
investments

(1,408)

–

(1,408)

–

Gain from disposal of long-term
investments

–

614

–

Gain from short-term
investments

–

210

Changes in fair value of
derivative instruments

498

(35)

257

Loss before income tax from
continuing operations

(15,538)

(4,750)

(2,282)

(25,384)

(7,011)

Income tax benefits

–

Net loss from continuing
operations

(15,538)

(4,750)

(2,282)

(25,384)

(7,011)

(Loss) income from discontinued
operations, net of applicable
income taxes

(3,416)

–

(3,326)

240

Gain on disposal of
discontinued operations, net of
applicable income taxes

–

18,687

Net (loss) income from
discontinued operations, net of
applicable income taxes

(3,416)

–

(3,326)

18,927

Net (loss) income

(18,954)

(4,750)

(2,282)

(28,710)

11,916

Less: Net loss attributable to the
non-controlling interests

–

(155)

–

(155)

Net (loss) income attributable
to BIT Mining Limited

(18,954)

(4,750)

(2,127)

(28,710)

12,071

Other comprehensive income
(loss):

Foreign currency translation
gain (loss)

168

140

(143)

(316)

(118)

Other comprehensive income
(loss), net of tax

168

140

(143)

(316)

(118)

Comprehensive (loss) income

(18,786)

(4,610)

(2,425)

(29,026)

11,798

Less: comprehensive loss
attributable to non-controlling
interests

–

(155)

–

(155)

Comprehensive (loss) income
attributable to BIT Mining
Limited

(18,786)

(4,610)

(2,270)

(29,026)

11,953

Weighted average number of
Class A and Class B ordinary
shares outstanding:

Basic

1,111,232,309

1,154,341,490

1,293,350,917

1,102,373,814

1,171,663,331

Diluted

1,111,232,309

1,154,341,490

1,293,350,917

1,102,373,814

1,171,663,331

(Losses) earnings per share
attributable to BIT Mining
Limited-Basic and Diluted

Net loss from continuing
operations

(0.02)

(0.00)

(0.03)

(0.01)

Net (loss) income from
discontinued operations

(0.00)

0.00

(0.00)

0.02

Net (loss) income

(0.02)

(0.00)

(0.03)

0.01

(Losses) earnings per ADS*
attributable to BIT Mining
Limited-Basic and Diluted

Net loss from continuing
operations

(1.40)

(0.41)

(0.16)

(2.30)

(0.59)

Net (loss) income from
discontinued operations

(0.31)

0.00

(0.30)

1.62

Net (loss) income

(1.71)

(0.41)

(0.16)

(2.60)

1.03

* American Depositary Shares, which are traded on the NYSE. Each ADS represents 100 Class A ordinary shares of the Company.

BIT Mining Limited

Reconciliation of non-GAAP results of operations measures to the nearest comparable GAAP measures

(Amounts in thousands of U.S. dollars (“US$”),

except for number of shares, per share (or ADS) data)

(Unaudited)

Three Months Ended

Twelve Months Ended

December 31,
2023

September 30,
2024

December 31,
2024

December 31,
2023

December 31,
2024

Operating loss from continuing
operations

(14,297)

(4,799)

(2,522)

(25,193)

(7,830)

Adjustment for share-based
compensation expenses

276

–

219

1,030

1,214

Adjustment for legal
contingencies

10,000

–

10,000

–

Adjusted operating loss (non-
GAAP) from continuing
operations

(4,021)

(4,799)

(2,303)

(14,163)

(6,616)

Net (loss) income attributable
to BIT Mining Limited

(18,954)

(4,750)

(2,127)

(28,710)

12,071

Net (loss) income attributable to
BIT Mining Limited from
discontinued operations

(3,416)

–

(3,326)

18,927

Net loss attributable to BIT
Mining Limited from
continuing operations

(15,538)

(4,750)

(2,127)

(25,384)

(6,856)

Adjustment for share-based
compensation expenses

276

–

219

1,030

1,214

Adjustment for legal
contingencies

10,000

–

10,000

–

Adjustment for gain from
disposal of long-term
investments

–

(614)

–

Adjustment for impairment of
long-term investments

1,408

–

1,408

–

Adjustment for changes in fair
value of derivative instruments

(498)

(69)

(85)

(257)

Adjustment for changes in gain
from short-term investments

–

(55)

–

(210)

Adjusted net loss attributable
to BIT Mining Limited (non-
GAAP) from continuing
operations

(4,352)

(4,819)

(2,048)

(13,525)

(6,109)

Net (loss) income from
discontinued operations, net of
applicable income taxes

(3,416)

–

(3,326)

18,927

Adjusted net (loss) income
attributable to BIT Mining
Limited from discontinued
operations (non-GAAP)

(3,416)

–

(3,326)

18,927

Adjusted net (loss) income
attributable to BIT Mining
Limited (non-GAAP)

(7,768)

(4,819)

(2,048)

(16,851)

12,818

Weighted average number
of Class A and Class B
ordinary shares outstanding:

Basic

1,111,232,309

1,154,341,490

1,293,350,917

1,102,373,814

1,171,663,331

Diluted

1,111,232,309

1,154,341,490

1,293,350,917

1,102,373,814

1,171,663,331

(Losses) earnings per share
attributable to BIT Mining
Limited (non-GAAP)-Basic and
Diluted

Adjusted net loss from
continuing operations (non-
GAAP)

(0.01)

(0.00)

(0.01)

Adjusted net (loss) income
from discontinued operations
(non-GAAP)

(0.00)

0.00

(0.00)

0.02

Adjusted net (loss) income
(non-GAAP)

(0.01)

(0.00)

(0.01)

0.01

(Losses) earnings per ADS*
attributable to BIT Mining
Limited (non-GAAP)-Basic and
Diluted

Adjusted net loss from
continuing operations (non-
GAAP)

(0.39)

(0.42)

(0.16)

(1.23)

(0.53)

Adjusted net (loss) income
from discontinued operations
(non-GAAP)

(0.31)

0.00

(0.30)

1.62

Adjusted net loss (non-GAAP)

(0.70)

(0.42)

(0.16)

(1.53)

1.09

* American Depositary Shares, which are traded on the NYSE. Each ADS represents 100 Class A ordinary shares of the Company.

View original content:https://www.prnewswire.com/news-releases/bit-mining-limited-announces-unaudited-financial-results-for-the-fourth-quarter-and-full-year-ended-december-31-2024-302388524.html

SOURCE BIT Mining Limited

Technology

The Next Generation of Agent Assist is Here with Balto

Published

60 minutes ago

September 1, 2026

ST. LOUIS, Sept. 1, 2026 /PRNewswire/ — Balto, the leading AI platform for contact centers and the company that invented the category of agent assist called real-time guidance in 2017, today officially unveiled RTG3 – the tool is being regarded as the future of agent assist – not for its first of its kind features, but also because it’s an agent assist that consistently delivers measurable ROI.

Introducing RTG3

RTG3 delivers what Balto describes as ambient agentic intelligence for the frontline contact center agents – an experience the contact center space has never seen before, and one that is being heralded as the future of agent assist.

The idea was born from a simple but powerful feeling: Making the agent app the central command center for the frontline by providing instant answers to information that’s impossible to memorize, the ability to search for information right on the app, and turning it into a personalized workspace, rather than just another screen/app on their desktop.

RTG3 brings that experience to the frontline contact center agent for the first time, within the context of their work. Rather than a single nudge tucked on the side of the screen, RTG3 is agentic intelligence that works on the agent’s behalf, automatically launching AI agents that gather the answers, customer context, and hard-to-find information a live conversation calls for, exactly when it’s needed. The result is a frontline agent with AI at their fingertips and the freedom to focus on the customer in front of them.

That power belongs to the agent. RTG3 is built for the frontline, designed to be made their own, personalized and arranged around how each person works best; not to monitor them, and not to replace them. It is Balto’s bet on humans and on what they are capable of when given the best possible tools. RTG3 is available today, free to existing Balto real-time guidance customers, through a fast and easy implementation.

Consistently delivers measurable ROI

Agent assist is the top investment priority for contact center leaders. According to industry-leading analysts in Customer Management Practice (CMP) Research, in the 2026–2027 year, 61% of leaders say they are going to invest in agent assist, making it the number one category, ahead of analytics and insights, chatbots and virtual agents, knowledge management, and automated QA.

Renowned for an excellent product suite, customer service and a platform that consistently delivers measurable ROI across multiple industries, Balto holds a 4.8-star rating across more than 600 reviews on G2 and Capterra, and has built RTG3 to meet that demand where the ROI actually lands: improved customer retention, agent to manager ratio, reduced agent turnover, accelerated ramp time, reducing handle time, better CSAT scores, and higher conversion rates.

“If you know there’s golden data, why are you waiting for somebody to go into your product, go to the interface and ask the question? Provide them with the data that you know is good,” says Balto CEO Marc Bernstein. That principle of putting that intelligence directly in front of the agent, rather than waiting for someone to ask, is at the heart of RTG3.

How RTG3 Works

RTG3 works today in the format contact center teams already know: the app is nestled in over the side of the screen and integrates with the CCaaS and UCaaS to start and stop automatically as calls come in and go out. For the first time, Balto is also introducing an intelligent agent desktop powered by ambient agentic intelligence for the frontline contact center agent.

Customer History before the call: The second a call comes through, Balto automatically populates the history of that customer by working through previous Balto conversations and transcripts. Agents immediately see why the customer is calling and their most recent call history. Customer History carries a 93% thumbs-up rating from agents.AI agents working in the background: When a customer mentions a city, Balto pulls local weather and sports. When a competitor comes up, it pulls that competitor’s reviews and surfaces the common complaints. In healthcare, when a provider is mentioned, Balto returns the provider’s name, specialty, practice address, and a link to their listing. All of it happens in the background while the agent keeps talking.Answers to questions impossible to memorize: Agents can ask Balto anything, including questions no one could reasonably memorize, such as pricing a plan for several hundred seats with the right discounts applied. Balto searches knowledge resources in Balto Cloud and can search a customer’s SharePoint. Every answer cites its source and deep links to the exact article, page, and section it came from.Real-time checklists are built as levers: The best AI checklists are not a full script; they are a few levers that let agents hit the metrics that matter: compliance requirements like verification, deeper discovery, and an assumptive ask or close. Agents can set completed items to auto-disappear, or keep them visible.A home base for the agent: Agents no longer have to navigate an obstacle course of tabs, CRMs, and Slack channels just to answer one customer question. RTG3 consolidates everything agents need–compliance, knowledge, workflows, and supervisor support–into one customizable workspace.Make it your own: RTG3 brings everything agents need into one place, and lets them make it their own. Agents can customize their layouts, pin what they use most, and personalize the look and feel of their workspace. Every agent can create a workspace that fits the way they work. If it works the way agents have longed for and they can personalize it, agents will use it.

Available and ready to use now

RTG3 is available now and free to existing Balto agent assist customers, with an implementation Balto describes as fast and low lift. Balto’s team stays involved through implementation and beyond, helping teams prepare documents so AI can read them accurately and connecting knowledge databases so agents can query the full knowledge base from inside Balto.

Customers are already seeing incredible results with a Health Insurance brokerage call discovery rose from below 20% to roughly 51%, with an approximate 10% increase in sales as RTG3 usage grew and a Home Improvement company’s new hire ramp to estimate certification dropped from about 90 days to 30.

Learn more about Balto Agent Assist.

About Balto

Balto is the #1 rated agent assist, QA automation, and agentic insights platform for contact centers, wrapped into a single platform where humans and AI work together. Founded in 2017, Balto was the first company to bring agent assist to market and has since deployed it across more than 300 customers and 500 million interactions. Balto is backed by Telescope Partners and Vista Equity Partners. Learn more at balto.ai

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SOURCE Balto Software, Inc.

Technology

S&P Dow Jones Indices and Kaiko Introduce S&P Kaiko Digital Asset Indices

Published

60 minutes ago

September 1, 2026

New co-branded suite brings both companies’ crypto index offerings onto a single platform

NEW YORK, Sept. 1, 2026 /PRNewswire/ — S&P Dow Jones Indices (“S&P DJI”), the world’s leading index provider and Kaiko, the global independent leader in digital asset market data, indices, and data infrastructure, today announced the combined digital asset index offerings under a single co-branded suite: S&P Kaiko Digital Asset Indices.

With this release, Kaiko’s digital asset reference rates and multi-asset indices, together with S&P DJI’s existing crypto indices, will be rebranded under the S&P Kaiko name. The suite is powered by Kaiko’s crypto-native data infrastructure and market expertise, with S&P DJI providing global licensing, distribution and benchmark administration.

With institutional participation in digital assets growing, asset managers, ETF issuers, exchanges and structured product providers increasingly require benchmarks that combine robust data, transparent methodologies, trusted governance and global distribution. The S&P Kaiko Digital Asset Indices are designed to meet that demand by pairing S&P DJI’s institutional benchmark expertise with Kaiko’s 24/7 digital asset data platform and exchange connectivity.

“Together, S&P DJI and Kaiko are raising the standard for digital asset benchmarks. As the asset class matures, institutional investors need indices defined by transparency, rigor and market relevance. This suite combines the trusted S&P brand with Kaiko’s crypto-native data infrastructure and market expertise, purpose-built for global, 24/7 digital asset markets,” said Cameron Drinkwater, Chief Product & Operations Officer at S&P Dow Jones Indices.

The S&P Kaiko Digital Asset Indices suite will operate on a single platform built on Kaiko’s technology stack, with S&P DJI’s benchmark administration, licensing and distribution infrastructure integrated into its commercial operations. S&P DJI brings decades of index governance experience, global licensing capabilities and benchmark administrator status under the EU Benchmarks Regulation, aligned with the IOSCO Principles for Financial Benchmarks. Kaiko will provide data sourcing and calculation through its crypto market expertise, connectivity to 150+ exchanges and round-the-clock infrastructure, as well as index methodology support.

At launch, the S&P Kaiko suite covers over 4000 rates and indices across the digital asset class. Existing financial products benchmarked to Kaiko reference rates and multi-asset indices – including exchange-traded products, futures, options and structured products – will be able to leverage the new S&P Kaiko brand.

“S&P DJI and Kaiko bring what digital asset markets have been missing: a globally trusted benchmark brand paired with crypto-native infrastructure built for 24/7 markets. S&P Kaiko Digital Asset Indices gives institutions the credibility, distribution and data precision they need to participate in this asset class with confidence,” said Ambre Soubiran, CEO at Kaiko.

To learn more about the S&P Kaiko Digital Asset Indices visit here.

For additional information about Kaiko’s data infrastructure, indices, and pricing solutions, visit kaiko.com. Kaiko Indices, S.A., as a legal entity, will retain its existing brand and BMR registration.

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets. S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit: www.spglobal.com/spdji.

ABOUT KAIKO

Kaiko provides regulated data services for onchain finance. Founded in 2014, the company delivers institutional-grade digital asset market data, analytics, indices, and data infrastructure for tokenized and traditional markets. Its clients include banks, asset managers, exchanges, and leading financial institutions worldwide. Kaiko’s data and infrastructure support trading, valuation, risk management, tokenized assets, and onchain applications, connecting traditional and blockchain-based markets. For more information, visit: kaiko.com.

FOR MORE INFORMATION:

Silke McGuinness
Global Head of Communications, S&P DJI
(+1) 415-205-8414
silke.mcguinness@spglobal.com

Victoria Calmon
Kaiko
Editorial & Communications Manager
press@kaiko.com

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SOURCE S&P Dow Jones Indices

Technology

AirDNA Launches Adapt, the AI-Native Revenue Management System for Short-Term Rental Operators

Published

60 minutes ago

September 1, 2026

DENVER, Sept. 1, 2026 /PRNewswire/ — AirDNA, the leading provider of short-term rental (STR) data and analytics, today launched AirDNA Adapt, adding revenue management to its product stack for STR hosts and property managers. Built with AI at its core rather than layered onto a traditional rules-based pricing model, Adapt weighs each listing’s full competitive landscape using data from the 15 million listings AirDNA tracks, then sets nightly rates and minimum stays with a clear rationale for every rate.

Adapt was built in response to feedback from thousands of STR hosts surfacing a recurring industry challenge: operators often can’t tell whether their pricing is working or understand why a rate has changed. More than 14,000 listings were connected to Adapt during private and public betas, which kept operator feedback at the center of product development.

“Pricing a property shouldn’t require translating your strategy into dozens of rules and settings,” said Rohit Bezewada, CEO of AirDNA. “We built Adapt around a simpler approach: operators set the strategy, and Adapt handles the complexity underneath. We believe operators should always be able to understand what the system is doing and why, in plain language they can act on.”

Key features include:

Daily dynamic pricing: Nightly rates and minimum stays adjust as market and booking conditions change, with local event detection built inUnlimited comp-sets: Auto-built, editable comp sets with historical and forward-looking performance benchmarks, plus a daily comp calendar comparing rates, minimum stays, and availabilityFour pricing strategies: Operators set the goal, whether revenue, occupancy, a balance of the two, or steadier earnings from earlier bookings, and Adapt sets the underlying pricing rules to match, all adjustablePerformance dashboard: Tracks actual booked revenue, ADR, RevPAR, occupancy, and length of stay, benchmarked against the listing’s history and comp set, with up to two years of historical performanceAI assistant: Explains why any given rate was set, tests alternative scenarios, and applies pricing changes with operator approval

“Good pricing starts with understanding what a property is competing against, and most operators are working with a partial view of their market,” said Jamie Lane, AirDNA’s Chief Economist. “We’ve spent twelve years building the full picture, which Adapt now puts to work on every pricing decision.”

Adapt is available today at AirDNA.co/adapt and is free to connect, with integrations for Airbnb, Guesty, Hostaway, Hospitable, OwnerRez, and Uplisting, and more integrations coming in 2026.

Adapt Media Kit

About AirDNA

AirDNA is a global authority on short-term rental data and intelligence for hosts, property managers, investors, real estate professionals, and destinations worldwide, covering 15 million listings across Airbnb, Vrbo, and Booking.com in 120,000 markets globally. AirDNA provides the data, analytics, and tools to understand market and competitive performance, identify and underwrite investment opportunities, and optimize pricing and revenue, supporting smarter decisions in any market or economic climate.

airdna.co

Media Contact

Chloé Garlaschi

Sr. Communications Manager, AirDNA

press@airdna.co

(720) 372-2318

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SOURCE AirDNA