BIT Mining Limited Review (BTCM.group)

Welcome to our BIT Mining Limited review, where we investigate the website at btcm.group and a BTCM impostor at Btcmvip.com.

Did they scam you? Please share your experience with them by commenting below this review.

On July 11, 2023, one of our partners received the following complaint from a person who reported being scammed for $488:

I joined a BTCM mining operation that later failed to pay my earnings.

So is BTCM a SCAM?

Btcm.group Review

Btcm.group was registered on March 8, 2021, through GoDaddy.com, LLC. It is protected by Domains By Proxy, LLC.

It is hosted by Alibaba.

According to SimilarWeb, btcm.group is owned by BIT Mining, a Hong Kong Investment Company founded in 2013. They are ranked 1,771,000 globally and, in June 2023, received more than 50,000 visitors from the United States, Germany, the Netherlands, and other countries.

Their Semrush Authority Score is 28%, with 5.6 backlinks from 1.1K referring domains.

According to their homepage, BTCM is a leading publicly traded cryptocurrency mining enterprise focusing on self-mining, data center operation, mining pool, and miner manufacturing.

They have a theoretical maximum total hash rate capacity of 9,013 PH/s and operate industrial-scale data centers in the US and Hong Kong with a combined capacity of 82.5 MW.

They have produced over 5,000 LD3 LTC/DOGE Miner Machines and are involved in various aspects of the crypto ecosystem.

Their mining pool serves over 2 million users worldwide, and they continue to increase their computing power through self-mining.

BTCM also develops and manufactures its mining machines, including BTC, LTC/DOGE, and ETC miners. They prioritize ESG (environmental, social, and governance) considerations and maintain stable power connections. The company is headquartered in Akron, Ohio, and has a strong presence in the cryptocurrency mining industry.

‘About Us’ Page of BIT Mining Limited

According to their About page, BIT Mining, trading as BTCM on the NYSE, is a prominent player in cryptocurrency mining.

Established with a keen focus on technology, this Akron, Ohio-headquartered company executes a trifecta of operations: cryptocurrency mining, management of data centers, and operation of a mining pool.

BIT Mining prides itself on several competitive advantages that elevate it above its competitors. These include its varied revenue streams, a vertically integrated supply chain, multiple data centers spread across the globe, a proficient execution team, and extensive industry expertise.

The company’s journey has been marked by key milestones, such as its NYSE listing in 2013, the inauguration of a trial-run cryptocurrency exchange platform in 2018, and in-depth global mine pool operation research in 2019.

Their formal announcement to enter the blockchain industry was made in 2020, followed by strategic investments in constructing new cryptocurrency data centers.

The subsequent years were laden with significant developments, including acquiring the BTC.com mining pool and domain name, expansion of mining operations, investment in data centers, and signing agreements to purchase Bitcoin miners.

BIT Mining has also made commendable strides in product development. In 2023, they launched a new energy-efficient Litecoin/Dogecoin miner called LD3 and successfully produced over 5,000 DOGE/LTC mining machines.

Acquisitions

Their principal operations are conducted under BTC.com, a distinguished blockchain browser wholly owned by the firm. BTC.com extends its mining pool services across currencies, including BTC, ETC, and LTC.

In line with their vision of achieving vertical integration and bolstering competitiveness, BIT Mining has entered into an agreement for the acquisition of Bee Computing. This industry ally is revered for its proficiency in manufacturing 7-nanometer cryptocurrency mining machines and its specialty in producing SHA256 miners.

With strategic partnerships across chip design, chip manufacturing, semiconductor assembly, and test manufacturing sectors, Bee Computing aspires to offer superior technology and products, thus emerging as a dependable choice in the industry.

Contact Information

Operating under the BIT Mining Group, the company is based at 428 South Seiberling Street, Akron, Ohio, USA. According to Google Maps, at this address, there is a manufacturer by the name of Maxion Wheels.

You can contact them at the given address or follow their updates via their registered Chinese Internet Content Provider (ICP) number, 粤ICP备13065610号.

Btcm.group’s Twitter Presence

BIT Mining Limited maintains an active presence on Twitter, primarily to communicate the latest happenings in the cryptocurrency sphere. Since joining Twitter in October 2016, they have amassed a follower base of 1,433 individuals, engaging them with insightful tweets about cryptocurrency mining and related industry developments.

The company’s Twitter presence extends beyond its operations. BIT Mining Limited’s mention in a The Motley Fool article about crypto investing exemplifies this. The piece explores the intriguing relationship between Bitcoin miners and the price dynamics of Bitcoin.

Facebook

BIT Mining Limited maintains a solid presence on Facebook. The company’s Facebook page has attracted attention, boasting 594 likes and 811 followers at the time of writing.

BIT Mining’s commitment to creating value in the cryptocurrency industry is evident in their posts, which comprise photos, videos, and updates about their mining operations and developments.

However, it is important to note a certain ambiguity surrounding the company’s reputation. The information provided indicates both positive aspects and skepticism regarding BIT Mining Limited.

TradingView

TradingView.com provides a comprehensive look at BIT Mining Limited.

BIT Mining’s stocks, under the ticker BTCM, are actively traded on the NYSE. As of the latest update, the stock was noted to be trading at $4.00 USD, reflecting a 13.96% increase.

The platform includes crucial statistics like BTCM’s market capitalization of $39.004 million USD. Additionally, it’s worth noting that the platform does not currently show any dividend yield or price-to-earnings ratio (TTM) and indicates a basic EPS (TTM) of -17.22 USD.

Delving into the company’s background, BIT Mining was established in 2001 by Man San Law and is currently headquartered in Akron, Ohio. The company’s CEO is Xian Feng Yang, and it operates with a team of 74 employees.

BIT Mining’s operations span three main segments: Mining Pool, Data Center, and Cryptocurrency Mining. More information about the company can be found on their official website, btcm.group.

YouTube

Westly James, a content creator on YouTube, features a video about BIT Mining Limited (BTCM). In the video, he advocates for the company’s potential, even going as far as claiming it to be a ‘life-changing’ opportunity that presents no losses but only profits.

This YouTube video was posted on June 26, 2023, and at the time of the last update, it had garnered 8 views. Notably, the video description includes a WhatsApp number, likely provided for viewers who may want additional information or have queries regarding the content discussed in the video.

Potential viewers should approach this video with caution. While Westly James appears to be very optimistic about BTCM, it is important to verify such claims independently and from multiple sources before making investment decisions. Cryptocurrency and stock investments can be volatile, and the claim of ‘no losses’ should be scrutinized carefully.

BTCM Reviews and Trust Ratings

We found different user reviews and trust ratings related to Btcm.group.

1. Phone number review: A search revealed a comment associating 776227744 with a scam attempt by the “btcm group.” However, the overall assessment of the number indicated no signs of danger.
2. Btcm.group Review: The company is portrayed positively in one review, noting its focus on self-mining, data center operation, mining pool, and miner manufacturing. With over 2 million users worldwide, Btcm.group is shown to be committed to increasing its computing power and developing its mining equipment. It is depicted as a leading player in the cryptocurrency mining industry.
3. Scam Detector’s Rating: According to Scam Detector’s algorithm, btcm.group ranks 76.4/100, implying it is a known, standard, and fair platform. It advises users to exercise caution and use common sense when engaging in online transactions.
4. Scamadviser’s Rating: Contrary to the Scam Detector’s rating, Scamadviser indicates a very low trust score of 1/100 for btcm.group, signifying potential risks. The report cites various negative factors, including hiding the website owner’s identity and the server being based in a high-risk country. The mixed user reviews further complicate the evaluation of the platform’s trustworthiness.

Overall, the reviews and ratings present a mixed image of Btcm.group. Some positive aspects showcase the company’s commitment to service and technology. Still, there are also considerable concerns raised about potential scam activities.

As a result, users should exercise extreme caution when interacting with this platform and conduct further independent research.

Btcmvip.com – BIT Mining Limited Impostor SCAM!

Btcmvip.com is a website that was registered on January 26, 2023, for one year via eNom, LLC. The site registration appears to be based in Hong Kong and is protected by Cloudflare. Despite this, the website is no longer active online.

According to SimilarWeb, the site had a global rank of 820,927 and a Taiwan rank of 73,520. In June 2023, the site garnered 36.5K visits from several countries, including France, Australia, and the United States.

The website also had a 2% Semrush Authority Score with 56 backlinks from 8 referring domains. Despite these figures, there are several concerns raised about the legitimacy of Btcmvip.com.

Multiple reviews and articles suggest that Btcmvip.com is potentially a fraudulent platform. The site claims to assist users in investing in cryptocurrency data centers by renting servers. However, several red flags were highlighted:

1. The information on the site is a complete copy of Btcm.group, a different company known for cryptocurrency mining.
2. The website design is reportedly unprofessional.
3. Despite launching in 2023, the site lists events dating back to 2019.
4. The website domain mirrors that of Btcm.group.
5. Users have reported disappearing messages on WhatsApp.

The site, register.btcmvip.com, also has a low trust score of 17 out of 100, suggesting it may be a scam. The site owner has hidden their identity, and the website has garnered predominantly negative reviews.

Lastly, www.btcmvip.com has a medium-low authoritative score of 48.2 out of 100. It has been described as doubtful and potentially dangerous. Various factors contribute to this score, including proximity to suspicious websites, potential for phishing, malware, and spam, and negative social media feedback.

In summary, Btcmvip.com has several factors suggesting it may have been fraudulent or deceptive.

BTCM Complaints

On July 12, 2023, one of our partners received the following complaint:

I invested 7.07 USD in BTCM, but when I attempted to withdraw, I did not receive the funds. Moreover, I am currently unable to access the BTCM website.

BIT Mining Limited Review Conclusion

After conducting an extensive review of both btcm.group and Btcmvip.com, our investigation presents a nuanced picture.

BTCM.group, owned by BIT Mining Limited, appears to be a legitimate operation, as evidenced by its public trading status on the NYSE and robust digital presence. It boasts an impressive profile, marked by vast operations, significant user engagement, and substantial technological assets. Its social media presence, degree of transparency, and user reviews support its legitimacy.

On the other hand, Btcmvip.com presents more substantial grounds for concern. Despite its claims of being a cryptocurrency investment platform, the site has several red flags indicating potential fraudulent activity. These include hidden owner identity, negative reviews, low trust score, and content duplicity from btcm.group. Moreover, its inactive status strengthens our suspicions about the site’s illegitimacy.

The complaint we opened this review with may have been related to btcmvip.com or another btcm.group impostor rather than to btcm.group itself.

To conclude, while btcm.group seems to be a genuine platform, Btcmvip.com was most likely a scam.

If you are a victim of online scams, please let us know by commenting below, and if you have lost a significant amount of money, do not lose hope. We can help you recover your funds!