To enhance the comprehension of the cavitation mechanism and explore its practical use in industrial production, this study developed models involving oxygen, varying bubble radii, and bubble quantities. This study uses molecular dynamics simulations coupled with the momentum mirror method to examine the collapse characteristics of bubbles during ultrasonic cavitation. The investigation uncovers patterns in the fluctuation of the maximum local density of water molecules, released pressure, and temperature. The findings demonstrate that, when oxygen-containing bubbles collapse at identical radii, the local density is notably higher and diminishes more rapidly. Moreover, the changes in the shape exhibit greater regularity. During the bubble collapse, a depression forms on the bubble's surface, coinciding with a notable surge in local density around the depression. As bubble radii and quantities increase, so does the local density along with a concurrent rise in the maximum pressure. Intriguingly, the model demonstrates the lowest pressure at Z = 35 Å accompanied by the emergence of a small crescent-shaped region with a reduced density. Throughout the pressure ascension phase, the rate of the maximum pressure change escalates with an increase in the number of bubbles. Conversely, during the pressure descent phase, the rate of the maximum pressure change diminishes with a growing number of bubbles. However, it is important to note that the maximum pressure does not exhibit a direct correlation with the number of bubbles. Ultimately, this study provides valuable technical guidance and a theoretical foundation for the integration of ultrasonic cavitation in industrial production processes.