Japanese technology company GMO Internet has published the financial presentation, a report for the second quarter of 2018. According to the document, the conglomerate aimed at changing the existing strategy in crypto and mining business.
Earlier in the business models of the superiority given to the private mining of crypto-currencies, followed by the provision of services of cloud mining and sale of equipment. The new strategy is built in descending order as follows: sale s HAS, and then cloud mining.
Report data show that in the period the total income from cryptocurrency infrastructure of the company has exceeded 2.6 billion yen ($23.4 billion) and operating profit was 250 million yen ($2.3 million). Note that financial results of GMO Internet in the previous quarter were a loss of $ 730 million yen ($6.6 million).
Proceeds of the GMO Coin crypto currency exchange exceeded the first quarter at 7.3 times, reaching of 1.42 billion yen ($12.8 million). Operating profit of the platform amounted to 550 million yen ($4.9 million).
In addition, a year after the launch of the trading platform the number of accounts on the GMO Coin has reached 177 thousand.
The presentation also stated that the income from the mining business over the previous quarter at 91.8% to 1.17 billion ($10.6 million). However, as noted in the company, due to the reduction in the price of bitcoin and increase the overall network Hasrat GMO Internet incurred a loss of $ 360 million ($3.2 million).
As stated in the document, the company has already sold all released in June model ASIC-miner miner GMO B3.
ForkLog previously reported that GMO Internet Group since the launch of mining capacity has produced more than 900 BTC and BCH 537.