AKRON, Ohio, April 10, 2025 /PRNewswire/ -- BIT Mining Limited (NYSE:BTCM) ("BIT Mining" or the "Company"), a leading technology-driven cryptocurrency mining company, today released its monthly mining production and operational updates for March 2025.
Mining Production and Operations Highlights:
- In March, BIT Mining produced a total of 41.55 Bitcoin (BTC), consisting of 34.96 BTC for hosted clients and 6.59 BTC self-mined.
- The Company also mined approximately 2,383,708 Dogecoin (DOGE) and 651.6 Litecoin (LTC).
- The average time required to mine one self-mined BTC was 5.2 days.
- The cost per BTC mined was approximately $65,831.
Infrastructure Update:
BIT Mining continues to expand its international mining footprint across Ohio and Ethiopia, with a focus on building scalable and clean-energy-powered infrastructure.
- In Ohio, the Company maintains active operations with a power capacity of 82.5 MW, supporting both hosted clients and self-mining.
- In Ethiopia, BIT Mining is progressing with the buildout of its newly acquired crypto mining site. As of March:
- Ongoing construction on the remaining 16 MW is expected to bring total site capacity to 51 MW by May 2025.
- The first batch of 8,458 air-shipped machines has cleared customs and arrived at the site, ready to be powered on.
- An additional 8,171 sea-shipped machines have reached the port and are currently undergoing customs clearance.
The Company currently owns a fleet of over 28,000 mining machines across its BTC and LTC/DOGE operations. While a portion of the fleet is in transit to Ethiopia or undergoing routine maintenance, BIT Mining is actively scaling toward full deployment. The Company's currently deployed and operational hash rate stands at 423 PH/s, with significant additional capacity expected to come online in the coming months. As logistics and repair cycles progress, BIT Mining anticipates a meaningful increase in utilization and operational efficiency, supporting its roadmap for long-term growth and profitability.
CEO's Commentary:
"We made steady operational progress in March as we refine our infrastructure strategy and remain focused on cost discipline," said Xianfeng Yang, CEO of BIT Mining. "While our cost per self-mined BTC remained stable at $65,831, we are actively working to increase deployment efficiency. Our clean-energy expansion in Ethiopia represents a long-term growth opportunity that aligns with our vision for sustainable and diversified mining operations."
About BIT Mining
BIT Mining (NYSE:BTCM) is a technology-driven cryptocurrency mining company with operations spanning mining, data center operation, and mining machine manufacturing. The Company is developing a vertically integrated crypto-mining ecosystem that includes self-mining, hosting services, and proprietary mining hardware. BIT Mining also owns 7nm BTC chip designs and advanced capabilities in LTC/DOGE and ETC miner development.
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 because of new information, future events or otherwise, except as required under law.
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SOURCE BIT Mining Limited