Japanese Internet giant GMO released Q3 performance report, encryption currency trading profit growth of 34%

 Japanese Internet giant GMO released Q3 performance report, encryption currency trading profit growth of 34%

In November 12th, Japanese technology and online financial group GMO Internet (hereinafter referred to as GMO) announced the 2018 fiscal year third quarter performance report.

Report shows that in the crypto currency trading business, GMO from the two quarter of the three quarter increased to 550 million yen from 740 million yen, the three quarter year-on-year growth of 34.4% . The company said, although the exchange of total business revenue of 1 billion 420 million yen from Q2 Q3 fell slightly to 1 billion 360 million yen, but the profit is still growing.

In the mining business, mining GMO in the third quarter revenue of 1 billion 230 million yen, compared with the second quarter rise, but by the market environment impact (worsening external environment and increasing the depreciation cost), profit margins decline , the third quarter loss of 640 million yen, while the second quarter loss is only 360 million yen. The report said, in the third quarter, GMO BTC, BCH mining is reached 674 PH/s, but the goal is to reach 800 years PH/s.

GMO encryption currency exchange GMO Coin launched in 2017, reported that in October this year, only 208 thousand users in about 89 billion yen ($781 million) deal.

GMO mining business is launched in 2017 at the end of the year, in the years 2017 GMO has disclosed that the plan will invest 9000 million dollar budget in crypto currency mining on. In addition to self mining business, this year 5 month, GMO had before, Scarlett, Yun Chi Nan bit news release, said to the launch of 7Nm B2 mill. But in this report, GMO said, because the electronic components required for the delay in shipment, its sales were delayed encryption currency.

The concern is that in addition to the exchange and mining business, GMO had tried to explore third kinds of encryption currency related business — GMO Japanese Yen (stable currency code: GJY), and the yen hook. In this report, the company also conducted a report, announced that it will convert GJY to GYEN.

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