Phoenix Group Reports Q1 Financial Results: Net Profit and Total Assets Surge

According to Odaily, Phoenix Group, a listed Bitcoin mining company and blockchain technology provider, has released its Q1 financial report. The key points from the report are as follows: The company's net profit reached $66.2 million, marking a year-on-year increase of 166%. Total assets also saw a significant rise, growing by 237% compared to the same period last year, from $261 million to $879.3 million. On a quarter-on-quarter basis, total assets grew by 5%. Revenue for the quarter increased by 18% compared to the previous quarter, reaching $68.9 million. Gross profit also saw a quarter-on-quarter increase, growing by 82.8% to reach $23.28 million. The total comprehensive income increased by 312% year-on-year to $102.28 million, and saw a quarter-on-quarter increase of 33.7%. Earnings per share for the quarter were $0.011.