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How to Buy Bit Mining Stock

Bit Mining Ltd

Bit Mining is a information technology service company located in Ohio, United States, which is part of the Technology sector, and is traded under the ticker BTCM on the NYSE exchange.

Bit Mining stock last closed at $2.95, up 3.15% from the previous day, and has decreased 24.36% in one year. It has underperformed other stocks in the Information Technology Services industry by 0.35 percentage points. Bit Mining stock is currently +64.8% from its 52-week low of $1.79, and -57.55% from its 52-week high of $6.95.

At the moment, there are 1.11B BTCM shares outstanding. The market value of BTCM is $32.78M. In the past 24 hours, 50,548 BTCM shares were traded.

How to Buy Bit Mining Stock

Wondering how to invest in Bit Mining stock? Here's how.
  1. Figure out where to buy Bit Mining stock: You need to pick an online brokerage, but don't worry - we've tried dozens of stock brokerages and apps to help you figure out where to buy Bit Mining stock.
  2. Sign up for a brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've found.
  3. Deposit funds into your brokerage account: Select your method of payment and add your info.
  4. Evaluate Bit Mining stock: The Bit Mining ticker symbol is BTCM. Is Bit Mining stock a good investment? Should you buy shares of BTCM? How do BTCM's underlying business fundamentals look? Do top analysts think Bit Mining is a good buy? Why has BTCM's stock price moved recently? (Hint: Our stock market analysis tools can help you figure out if BTCM is a good stock to buy).
  5. Execute your BTCM trade: Decide if you will purchase BTCM shares at the current market price or use a limit order to buy BTCM shares at a given price.
  6. Watch your BTCM position: Create a watchlist to keep track of your new investment in Bit Mining stock.

Step 1: Figure out where to buy Bit Mining stock

You will need a brokerage account in order to access the NYSE market and buy BTCM shares.

A brokerage account enables you to buy and sell a variety of investments, including stocks, bonds, mutual funds, and ETFs.

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Step 2: Sign up for a brokerage account

Now that you've selected the best brokerage, you need to fill out some personal info so you are able to invest in BTCM today.

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Step 3: Deposit funds into your brokerage account

Now that you have created your account on mobile trading apps, your next step is to transfer the money for your investment:

Check out this video walkthrough to see the process of depositing money into your new investment account.

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Step 4: Evaluate Bit Mining stock

Once you have selected the best place to buy Bit Mining stock, it's critical to research their stock before you buy, so you truly understand the risk as well as the upside.

Overview of key BTCM info

BTCM Price
$2.95
1w %
8.06%
1y %
-24.36%
5y %
-97.14%
P/E
-0.98x
P/B
1.3x
P/S
0.75x
PEG
N/A
Revenue
$43.10M
Earnings
-$28.71M
Fore. Rev. Growth
N/A
Fore. Earn. Growth
N/A
Market Cap
$32.78M
Next Earnings
Aug 9, 2024
Next Dividend
N/A

Bit Mining Zen Score

WallStreetZen was designed to help average investors perform more accurate fundamental analysis in minutes instead of hours.

You can see all of the due diligence checks on BTCM's stock page.

Is BTCM stock properly valued?

You can use a variety of different financial metrics, analyses, models, and charts to gauge BTCM's intrinsic value.

Using relative valuations measures:

  • BTCM may be undervalued based on its P/B ratio of 1.3x, relative to Information Technology Services industry P/B ratio of 4.72x

You can access additional valuation research on BTCM's stock here.

A quick look at BTCM Financials

Passed Health Checks:

  • There are more short-term assets than long-term liabilities on the BTCM balance sheet.

Failed Health Checks:

  • Total BTCM debt is higher than 5 years ago, relative to shareholder equity.
  • BTCM has a relatively high debt to equity ratio of 1.89.
  • BTCM has $10.87M in cash and short term investments. This is not enough to cover its annual cash burn of $29.82M.
  • BTCM has cash burn of 29821000. It does not have sufficient cash and short-term investments to cover this.
  • BTCM profit margin has gone up by 2.06 percentage points in the past year, but the company is still unprofitable.
  • There are more short-term liabilities than short-term assets on the BTCM balance sheet.

You can dig deeper into what analysts are projecting on the Bit Mining stock forecast page.

BTCM Technicals

SMA10
2.84
SMA20
2.82
SMA50
2.72
SMA100
2.86
SMA200
3.28
MACD
0.04
MACD Signal
0.04
MACD Histogram
0
RSI
55.58
Stochastic %K
57.46
Stochastic %D
50.87
StochRSI %K
59.79
StochRSI %D
48.65

Is BTCM Growing Revenue?

Last year, BTCM revenue was $43.10M. During the past five year, BTCM's revenue has gone up by 17.14% per year. This was faster than the Information Technology Services industry average of 7.29%.

Learn more about BTCM's earnings and revenue performance here.

Latest Insiders Trades at BTCM

In the last year, insiders at BTCM have not bought or sold any shares.

Dig into more about who owns BTCM shares here.

Can I rely on BTCM as an income stream?

No, Bit Mining doesn't provide an income stream by paying out dividends.

What others are saying about BTCM

One of the primary reasons eToro is our favorite brokerage is because of its social trading community.

Click below to find out what other community members have to say.

Step 5: Execute your BTCM trade

There are two primary options:

  • Market order: A market order is an order to buy or sell a stock at the best available price.
    Market orders are mostly the best for newer investors.
  • Limit order: A limit order is an order to buy or sell a security at a specific price (or better).
    If you want to be certain you're buying or selling at a particular price limit, use a limit order.

Hit the Open Trade button and your broker will place your order.

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Step 6: Watch your BTCM position

Now that you own some BTCM shares, you'll want to stay up-to-date on your shares.

Put BTCM on a watchlist to monitor your BTCM stock.

BTCM Feed

How to Buy Stock in Bit Mining

To reiterate, here are the 6 steps to buy stock in Bit Mining:

  1. Figure out where to buy Bit Mining stock
  2. Sign up for a brokerage account
  3. Deposit funds into your brokerage account
  4. Evaluate Bit Mining stock
  5. Execute your BTCM trade
  6. Watch your BTCM position

If you need a brokerage, eToro is our recommended venue.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

If you want to track your new investment in Bit Mining, create a watchlist today.

NYSE: BTCM
$2.95+0.09 (+3.15%)
Updated Jul 12, 2024
Open eToro Account
NYSE: BTCM
$2.95+0.09 (+3.15%)
Updated Jul 12, 2024
Open eToro Account

FAQ

How much does it cost to buy one Bit Mining share?

As of Jul 12, 2024, it costs $2.95 to buy one share of Bit Mining stock.

Remember, eToro's fractional share buying allows you to buy partial shares of stocks and ETFs. Even if you only have $1, you can buy 0.339 shares of BTCM.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

What is the best way to buy Bit Mining stock?

One way to place an order for Bit Mining stock is with a brokerage account.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.