Japanese tech conglomerate GMO Internet, presented the financial results of the third quarter, including indicators of cryptocurrency business. He, according to the presentation, includes the crypto-currency exchange, payment services and activities in the field of mining.
The company reported that total income for the quarter of the given direction made up 2.61 billion yen ($23 million) and a profit of 100 million yen ($880 thousand). Although the figures were slightly below second quarter, GMO Internet in the presentation noted that to make a good profit in the cryptocurrency business have managed in just a year after joining it.
Moreover, if the revenue for the quarter at cryptocurrency exchanges GMO Coin and mining business were comparable — of 1.36 and 1.23 billion yen, respectively, obtained for the period profit differs dramatically. GMO Coin earned 740 million yen ($6.49 mn) is 34% more than in the previous quarter of the year, and mining brought the company for the quarter 640 million yen ($5,62) losses.
Profit, the latter reduced quarter to quarter, noted in the presentation. Reasons cited growth in staff and depreciation expenses, as well as a “deterioration in the external environment”. In addition, GMO Internet has postponed the sale of ASIC-miners from-for delays with deliveries of necessary components.
The report noted that the GMO Coin crypto currency exchange continues to increase the number of users by October the index reached 208 thousand. With the amount of trade in recent months have been steadily declining, the report says.
GMO Internet have also reported that changes Ticker planned to launch stablon with GJY on GYEN.
Previously, when the publication of financial results of the II quarter of 2018, GMO Internet announced a change of priorities in the mining business, the cornerstone was put selling ASIC miners, not mining cryptocurrency. But hash rate mining BTC and BCH, the company continues to grow and has already reached 674 PH/s, up to the end of the year this figure should reach 800 PH/s, according to the presentation.
Recall that the GMO Internet produced in October 875 BCH, although in the preceding three months do not maynila this cryptocurrency.