How are Bitcoin price movements expected to influence BIT Mining's revenue and profitability for the quarter?

Bitcoin price is the single biggest driver of BIT Mining’s quarterly top‑line and bottom‑line.

The company’s revenue is generated by selling the Bitcoin it mines, so every 1 % rise in the BTC price translates directly into roughly a 1 % lift in mining‑sale proceeds. In a typical quarter the firm mines a relatively fixed number of BTC (its hash‑rate capacity and power‑cost structure are largely set for the period), so the bulk of the upside or downside comes from the market price of the coin. When BTC trades above the cost‑of‑production threshold—currently estimated at roughly $24‑$26 k per BTC—each mined coin adds a healthy gross margin; a higher price also improves the “real‑value” of any ancillary services (e.g., hosting, equipment leasing) that BIT Mining bills to customers. Conversely, a slide back toward $20 k would compress margins sharply and could push the quarter into a loss, especially if mining difficulty continues to rise.

Technical and macro context for the next 90 days reinforces this link.

On the chart, Bitcoin is holding near a strong $30k‑$32k support zone with bullish momentum on the 4‑hour and daily time frames; the 20‑day SMA is still above the 50‑day SMA, indicating short‑term uptrend. If BTC can sustain above $30k, BIT Mining’s Q2 earnings are likely to show a double‑digit revenue growth YoY and a swing back to positive EBITDA, as the company’s cost‑base (mainly electricity and equipment depreciation) is relatively fixed. A breach of the $28k support level could trigger a rapid margin squeeze, prompting the stock to test its recent $1.20‑$1.35 range and potentially open a short‑side opportunity.

Trading implication:

- Long bias on BIT Mining (BTCM) if BTC remains > $30k and holds its technical support—target the upper end of the $1.35‑$1.45 range as the market prices in higher mining profitability.

- Short bias if BTC breaks below $28k, where the company’s cost‑of‑production risk rises; consider a defensive stop around $1.20, where the stock has already reflected a weaker earnings outlook.

In short, Bitcoin’s price trajectory will dictate whether BIT Mining’s Q2 revenue and profitability expand or contract, making BTC price the primary catalyst for the stock’s near‑term performance.