ICYMI: BIT Mining reports 40% dip in revenue during Q1 2022
40.4% dip in revenue, totaling $296.7 million, in Q1 2022 compared to the previous three months.
As pointed out by the company, a majority of that revenue came from its mining pool business, which decreased by about 42.7% from the previous quarter. That was in part due to the “effect of declines in prices of cryptocurrencies in the first quarter of 2022,” per the statement. BIT Mining’s multiple business segments include self-mining, a mining pool and data center operations.
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