BIT Mining (BTCM) Q1 revenue on Friday has nosedived over the fourth quarter, hindered by its mining pool business after China banned cryptocurrency transactions last year. Moreover, revenue of $296.68M cratered from $497.78M in Q4 2021, but remains elevated from just $2.6M in the year-ago period. Operating expenses were $298.8M in Q1, compared with $501.6M in Q4 2021 and $3.9M in Q1 2021. Overall, the crypto miner posted a net loss of $3.75M in Q1, improving from -$17.2M in Q4 2021, but down from a gain of $3.31M in Q1 of last year. Furthermore, BIT's (BTCM) total hash rate capacity of its ethereum (ETH-USD) mining machines is approximately 4,452.7 giga hashes per second ("GH/s"), as of May 27. It mined 5,420 ether and recognized revenue of ~$16.0M. And its bitcoin mining machines' hash rate capacity was 246.1 peta hashes per second ("PH/s"). In Q1, it produced 166 bitcoins, recognizing revenue
SEC Hosts First-Ever Crypto Roundtable Today
