according toaccording toImage Source:
Image Source:Nikkei News
Nikkei NewsThe sharp fluctuation of the stock price may be related to the announcement issued by GMO on the previous day (December 25).public documentsRelevant, the information disclosed in the document shows that itsMining losses of 35.5 billion yen ($320 million) in Q4, calling it "extraordinary loss",And said that it will no longer develop, manufacture and sell encryption mining machinesimage description
Image Source:https://ir.gmo.jp/en/pdf/irlibrary/gmo_disclose_info20181225_e.pdf
Image Source:According to Odailypreviously reportedpreviously reported, GMO’s third quarter performance report for fiscal year 2018 released in November showed that in terms of mining business, GMO’s mining revenue in the third quarter was 1.23 billion yen, which was an increase from the second quarter, but was affected by the market environment ( deteriorating external environment and increasing depreciation costs), profit margins declined quarter-on-quarter,
A loss of 640 million yen in the third quarter (compared to a loss of 360 million yen in the second quarter).The Japanese Internet giant GMO entered the encryption mining market in 2017. At that time, the market was very good. GMO announced the launch of encryption mining business in September 2017, andSaid to intendInvest in a budget of $90 million.From the end of 2017
In June 2018, GMO announced its first Bitcoin mining machine - B2. andsayexpressexpressexpress
However, in the second half of 2018, GMO was not the only one that suffered losses due to the sluggish encryption market. Bitmain, which is also a competitor, was recentlymedia exposure, its AI teams in Singapore, Taiwan, Shanghai, including Beijing, will lay off a lot of people, more than 50% of the staff.
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