According to ChainCatcher news, Bithumb, a South Korean exchange, announced its performance for the first half of the year: sales reached 329.1 billion won (up 35% year-on-year), operating profit was 90.1 billion won (down 5.7% year-on-year), and net profit was 55 billion won (down 46.5% year-on-year). The company explained that the decline in profits was mainly due to the increased costs of user welfare activities and losses in the valuation of encryption assets, while the rise in sales was benefited from the record high prices of Bitcoin and other assets.
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Bithumb Half-Year Report: Sales exceeded 329 billion won, pump 35%
According to ChainCatcher news, Bithumb, a South Korean exchange, announced its performance for the first half of the year: sales reached 329.1 billion won (up 35% year-on-year), operating profit was 90.1 billion won (down 5.7% year-on-year), and net profit was 55 billion won (down 46.5% year-on-year). The company explained that the decline in profits was mainly due to the increased costs of user welfare activities and losses in the valuation of encryption assets, while the rise in sales was benefited from the record high prices of Bitcoin and other assets.