Japanese IT-corporation GMO Internet published its financial report for the third quarter on November 12. The company presented data on the operation of the cryptocurrency unit, which continued to operate successfully, despite the difficult situation in the market.
GMO reports that the company’s revenue from the cryptocurrency sphere, including manufacturing for mining and a cryptocurrency exchange, amounted to $ 22.8 million for the last quarter.
According to the data presented, the cryptocurrency platform GMO Coin, previously launched by the company, has 208,000 users and $ 781 million of assets at the end of October. Also, the company said that the profit of the cryptocurrency division of GMO over the past three months increased by 34.4%.
It is worth noting that the company’s revenues from the production of equipment for mining have increased significantly, but in the second and third quarter, the company’s income declined. Commenting on the situation, the company is confident that the decline in income is due to external factors, such as a decrease in the cost of cryptocurrency.
Speaking of new equipment for mining, GMO reported the release of Miner B3 in June, but in October the launch of the product was postponed due to problems with the supply of some components.
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