• Latest
GMO Reports $5.6 Million Q3 Loss on Crypto Mining Business

GMO Reports $5.6 Million Q3 Loss on Crypto Mining Business

November 13, 2018
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Business

GMO Reports $5.6 Million Q3 Loss on Crypto Mining Business

coinnewsdaily by coinnewsdaily
November 13, 2018
in Business
0
GMO Reports $5.6 Million Q3 Loss on Crypto Mining Business
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

Japanese IT giant GMO has reported a loss of 640 million yen (about $5.6 million) for its cryptocurrency mining business in the third quarter of 2018.

Revealed in the firm’s latest financial report, published Monday, that figure is markedly worse than its Q2 loss of 360 million yen (around $3.2 million). GMO put the drop down to a “worsening” external environment and increasing depreciation costs.

Overall, however, the firm saw a slight increase in revenue from mining, with Q3 revenue coming in at 1.23 billion yen ($10.78 million) as compared to 1.17 billion yen ($10.26 million) in Q2.

The firm mined a total of 1,590 bitcoins and 25 bitcoin cash in Q3, according to its latest monthly crypto mining business report.

GMO also provided data on its mining capability, or hashrate, which saw an increase to 674 petahashes per second (PH/s) in October as compared to 479 (PH/s) in September. The firm indicates it is aiming to achieve 800 PH/S within the year.

Meanwhile, the company’s exchange business has more positive news for Q3, netting profits of 740 million yen (about $6.5 million) – that’s up 34.4 percent compared to the previous quarter. Revenue came in at 1.36 billion yen (about $11.92 million) for the same period.

Overall, the crypto segment also saw an increase in Q3 revenue, although profit again declined from the previous quarter. Net sales are reported at 2.6 billion yen (about $22.80 million), while overall profits declined to 104 million yen (about $912,840).

GMO said in a separate report that its cryptocurrency mining loss was offset by profit seen in the cryptocurrency exchange business.

Finally, shipments of GMO’s new 7nm B3 mining rig, which were originally scheduled to start in October, are being delayed by a shortage of some some electronic components, the firm said.

Bitcoin mining image via Shutterstock



Credit: Source link

Tags: BusinessCryptoCrypto Business
Share76Tweet48
Previous Post

Shell, BP Back Blockchain Platform to Modernize Commodities Trading

Next Post

Bitcoin Cash’s ‘Hash War’ Solidifies as Network Hard Fork Approaches

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin
Alt Coin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?
Alt Coin

What is the future of Ethereum (ETH)?

April 22, 2022
Load More
Next Post
Bitcoin Cash’s ‘Hash War’ Solidifies as Network Hard Fork Approaches

Bitcoin Cash's 'Hash War' Solidifies as Network Hard Fork Approaches

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,485.00-1.17%
  • ethereumEthereum(ETH)$1,639.67-1.40%
  • tetherTether(USDT)$1.000.00%
  • binancecoinBNB(BNB)$322.85-1.47%
  • rippleXRP(XRP)$0.412027-0.25%
  • cardanoCardano(ADA)$0.399678-0.20%
  • dogecoinDogecoin(DOGE)$0.091608-1.84%
  • matic-networkPolygon(MATIC)$1.18-3.03%
  • okbOKB(OKB)$39.57-0.96%
  • solanaSolana(SOL)$24.33-1.95%
  • polkadotPolkadot(DOT)$6.683.00%
  • shiba-inuShiba Inu(SHIB)$0.0000123.18%
  • litecoinLitecoin(LTC)$98.16-1.81%
  • tronTRON(TRX)$0.0644521.60%
  • daiDai(DAI)$1.000.05%
  • cosmosCosmos Hub(ATOM)$14.62-0.14%
  • chainlinkChainlink(LINK)$7.10-1.76%
  • ethereum-classicEthereum Classic(ETC)$23.263.63%
  • moneroMonero(XMR)$172.36-3.48%
  • leo-tokenLEO Token(LEO)$3.35-0.38%
  • bitcoin-cashBitcoin Cash(BCH)$137.38-0.49%
  • stellarStellar(XLM)$0.092206-0.62%
  • filecoinFilecoin(FIL)$5.48-2.67%
  • crypto-com-chainCronos(CRO)$0.080507-0.76%
  • algorandAlgorand(ALGO)$0.253974-0.20%
  • vechainVeChain(VET)$0.024448-0.85%
  • internet-computerInternet Computer(ICP)$5.76-3.22%
  • aaveAave(AAVE)$88.16-2.83%
  • eosEOS(EOS)$1.090.48%
  • elrond-erd-2MultiversX(EGLD)$44.822.13%
  • theta-tokenTheta Network(THETA)$1.080.24%
  • tezosTezos(XTZ)$1.110.28%
  • huobi-tokenHuobi(HT)$5.759.71%
  • paxos-standardPax Dollar(USDP)$1.000.94%
  • bitcoin-cash-svBitcoin SV(BSV)$42.87-1.72%
  • havvenSynthetix Network(SNX)$2.47-6.42%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.10-3.19%
  • dashDash(DASH)$61.30-1.62%
  • iotaIOTA(MIOTA)$0.233045-0.11%
  • neoNEO(NEO)$8.813.03%
  • makerMaker(MKR)$670.53-1.22%
  • zcashZcash(ZEC)$45.91-3.25%
  • zilliqaZilliqa(ZIL)$0.0286560.42%
  • basic-attention-tokenBasic Attention(BAT)$0.267588-1.25%
  • compound-governance-tokenCompound(COMP)$53.04-5.25%
  • nemNEM(XEM)$0.0399591.00%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • kusamaKusama(KSM)$37.091.62%
  • bitcoin-goldBitcoin Gold(BTG)$17.38-0.05%
  • sushiSushi(SUSHI)$1.507.60%
  • qtumQtum(QTUM)$2.74-0.95%
  • wavesWaves(WAVES)$2.59-0.94%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • golemGolem(GLM)$0.2516582.37%
  • yearn-financeyearn.finance(YFI)$7,640.08-0.02%
  • omisegoOMG Network(OMG)$1.512.12%
  • ontologyOntology(ONT)$0.215033-0.23%
  • digibyteDigiByte(DGB)$0.010809-3.05%
  • umaUMA(UMA)$2.09-0.25%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%