Bitcoin

Strong

Phoenix

Phoenix Group, a listed Bitcoin mining company and blockchain technology provider, has announced impressive Q1 financial results. The company reported a net profit of $66.2 million, which is a remarkable 166% increase from the same period last year. This significant rise underscores the company's robust performance in the first quarter.
Moreover, Phoenix Group's total assets surged by 237% year-on-year, from $261 million to $879.3 million. On a quarter-on-quarter basis, total assets grew by 5%, highlighting steady growth.
Revenue for the quarter also increased by 18% compared to the previous quarter, reaching $68.9 million. This growth in revenue is complemented by a substantial rise in gross profit, which jumped by 82.8% to $23.28 million.
Additionally, the total comprehensive income saw a staggering year-on-year increase of 312%, amounting to $102.28 million. Quarter-on-quarter, the comprehensive income increased by 33.7%, indicating continuous improvement. Earnings per share for the quarter were $0.011, reflecting the company's profitability.

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

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