Bitcoin mining company Phoenix Group released its Q1 financial report: net profit of US$66.2 million, a year-on-year increase of 166%
Phoenix Group, a listed mining company and Blockchain technology provider for Bitcoin, released its Q1 financial report, with the following main points:
1. Net profit of $66.2 million, a year-on-year increase of 166%.
2. Total assets increased by 237% year-on-year, soaring from $261 million to $879.3 million.
3. Total assets increased by 5% quarter-on-quarter.
4. Revenue increased by 18% quarter-on-quarter, reaching $68.9 million.
5. Gross profit increased by 82.8% quarter-on-quarter, reaching $23.28 million.
6. The total comprehensive income increased by 312% year-on-year to $102.28 million, an increase of 33.7% quarter-on-quarter.
7. Earnings per share for the first quarter of 2024 were $0.011.
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