Japanese IT giant GMO Internet announced that cryptocurrency business brought him in ended the financial year a loss of 1.36 billion yen ($11,75 million), and the majority – 60% – occurred in the last quarter of 2018.
Net sales of the stock and mining business areas amounted to $74,51 million, but if the first gained profit in the amount of $7 million, the losses of the second grew and within a year reached $18.3 million – without taking into account its non-operating loss of 35.3 billion yen ($319,23 million).
Recall that in GMO Internet in August revised its priorities in the mining business, and in December due to unrealized losses in the fourth quarter decided not to develop, manufacture and sale of equipment for mining cryptocurrency. The company is mining the cryptocurrency from December 2017, and the market of manufacturers of equipment for mining, was released in January last year. Recently the company confirmed its intention to release in 2019 own stablon GYEN tied to the yen.