Bitcoin mining company Mawson reported a revenue of $11.3 million in Q3, producing 246 BTC

2023-11-14 09:36:19

Collection

ChainCatcher news, Bitcoin mining company Mawson Infrastructure Group announced its financial report for the third quarter of 2023, with an output of 246 BTC, a quarter-on-quarter increase of 35%; self-mined BTC revenue increased by 41% quarter-on-quarter to $6.9 million; as of September 30, Mawson's revenue was $11.3 million, a quarter-on-quarter increase of 7%.

The cost of revenue for the third quarter of 2023 decreased by 58% compared to the same period last year, and increased by 10% quarter-on-quarter, rising from $7 million to $7.7 million; the gross profit for this quarter was $3.6 million, a quarter-on-quarter increase of 3%, mainly due to the combined effects of operational improvements, reduced electricity costs, and improved BTC market indicators, while the gross profit for the same period last year was $10.1 million, a quarter-on-quarter decrease of 64%; SG&A expenses for the third quarter of 2023 decreased by 42% sequentially, from $6.3 million to $3.7 million, due to the company's operational efficiency and the initial results of cost optimization activities implemented by the new management in recent months, compared to $5 million in the same quarter last year.

In the third quarter of 2023, Mawson reported a net loss of $16.2 million, compared to a net loss of $17.7 million in the previous quarter and a net loss of $8.2 million in the same period last year.

(Source Link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.