BIT Mining reports Q4 adjusted EPS ($1.93) vs. ($1.32) last year

Reports Q4 revenue $61M vs. $497.8M last year. "We are pleased to report our financial results for the fourth quarter and full year of 2022. Despite challenging market conditions, we have continued to optimize our operations and enhance our resilience to market volatility," said Xianfeng Yang, CEO of BIT Mining. "During the quarter, we strengthened our vertical integration across our mining center, mining machine R&D, and mining pool businesses. Despite the crypto market downturn and high energy prices in November and December, we were able to manage the energy volatility through our fixed power pricing strategy during the winter months. We remain focused on our long-term development strategy, and we are confident in our ability to create value for our shareholders in the future," Yang added. "The change in the ratio of our American Depositary Shares to our Class A ordinary shares, executed in late December, was carried out smoothly. We successfully launched a new DOGE/LTC mining machine, LD3, that has raised investor confidence and garnered significant interest from machine buyers. We also continue to enhance our technology development, not only in hardware but also in software."