PANews reported on May 18 that according to GlobeNewswire, crypto mining company Phoenix Group released its Q1 financial report, with a net profit of US$66.2 million in the first quarter, a year-on-year increase of 166%. The main financial highlights are:
Total assets surged 237% year-over-year, from $261 million to $879.3 million
Total assets increased by 5% month-on-month
Revenue increased 18% quarter-over-quarter to $68.9 million
Gross profit increased 82.8% quarter-over-quarter to $23.28 million
Total consolidated revenue increased 312% year-over-year to $102.28 million and 33.7% quarter-over-quarter
Earnings per share for the first quarter of 2024 are $0.011
