BIT Mining Limited BTCM

Competitive advantage analysis · technology

Software & SaaS Specialized
Overall moat score
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Ranked against 77 peers in Information Technology Services

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Recurring Revenue Stickiness

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Signals, strengths and risks for Innovation Engine

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Signals, strengths and risks for Cash Scalability

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Balance Sheet Resilience

Where BTCM ranks in Information Technology Services

BIT Mining Limited ranks #76 of 78 scored companies in Information Technology Services by moat score — the top 97%. The widest moat in the group is Mastercard Incorporated (MA) at 84/100.

# Company Moat score Rating
70 Veea Inc. VEEA 20/100 Weak
71 Jianzhi Education Technology Gr JZ 19/100 Weak
72 SAIHEAT Limited SAIH 17/100 Weak
73 Trident Digital Tech Holdings L TDTH 14/100 Weak
74 Aurora Innovation, Inc. AUR 12/100 Weak
75 Aurora Innovation, Inc. AUROW 12/100 Weak
76 BIT Mining Limited BTCM 0/100 Weak
77 Fiserv, Inc. FI 0/100 Weak
78 WNS (Holdings) Limited WNS 0/100 Weak

See every Software & SaaS company ranked by moat score →

How BTCM scores on the Software & SaaS Specialized defenses

Pricing Power

Not measurable · 20% of the moat score

In software, pricing power is visible in gross margin: a vendor that has to discount in order to renew gives it up first.

Recurring Revenue Stickiness

Not measurable · 18% of the moat score

Recurring revenue is the model's central claim, and it is a moat only when customers renew and expand without being re-sold each year.

Innovation Engine

Not measurable · 16% of the moat score

Software is competed away rather than depreciated, so a vendor that stops investing loses its category.

Cash Scalability

Not measurable · 18% of the moat score

The test of a software business is whether growth eventually stops consuming cash.

Capital Efficiency

Not measurable · 16% of the moat score

A software platform employs very little capital, so a genuine franchise should produce high returns on it without leverage.

Balance Sheet Resilience

Not measurable · 12% of the moat score

Software companies fund years of customer acquisition before those customers pay back, which makes access to capital a strategic variable rather than a treasury detail.

How each Software & SaaS Specialized defense is measured, in full →

Understanding BTCM's moat

What is BIT Mining Limited's moat score?

BIT Mining Limited (BTCM) scores 0 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as weak. It ranks #76 of 78 scored companies in Information Technology Services, the top 97%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 77 companies in Information Technology Services.

How does BIT Mining Limited compare with other Information Technology Services companies?

BIT Mining Limited ranks #76 of 78 scored companies in Information Technology Services by moat score. The widest moat in Information Technology Services is Mastercard Incorporated (MA) at 84/100. The companies ranked closest are Aurora Innovation, Inc. (AUROW) at 12 just above it and Fiserv, Inc. (FI) at 0 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Software & SaaS Specialized in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 77 companies in Information Technology Services. The defenses are then weighted to produce the overall score out of 100.

Why is BIT Mining Limited scored with the Software & SaaS Specialized template?

Software costs almost nothing to reproduce, so the entire economic question is whether customers keep paying. Revenue is a subscription rather than a sale, the cost of winning a customer is paid years before that customer becomes profitable, and margins arrive only if renewals hold. The Software & SaaS template scores retention, reinvestment, and the point at which growth turns into cash.

Which competitive defenses are measured for BIT Mining Limited?

The Software & SaaS Specialized template measures 6 defenses, and BTCM scores: Pricing Power (not measurable), Recurring Revenue Stickiness (not measurable), Innovation Engine (not measurable), Cash Scalability (not measurable), Capital Efficiency (not measurable), Balance Sheet Resilience (not measurable). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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