BIT Mining Ltd. (NASDAQ:BTCM) stock plunged 8% in Thursday’s after-hours trading after the cryptocurrency mining company’s half-yearly earnings disappointed investors.
BTCM shares are retreating from recent levels. Watch the momentum here.
Revenue Tanks 43%, Costs Shoot Up
The company reported a loss of $0.87 per American Depositary Share for the six months ending June 30, significantly wider than the $0.05 expected by analysts. Note that each American Depositary Share represents 100 Class A ordinary shares of the company.
The revenue tanked …