TrustinCryptoRemainsHighDespiteBearMarket
"ThecurrenteconomicconditionsinthecryptomarkethavemadeitattractiveforWonderFitobeabletoacquirecompanieslikeBCF,whichcarrythepotentialtocomplementourcoreoperatingcryptoassettradingplatformsBitbuyandCoinberry,whilealsoaddingcash,liquiddigitalassets,andapo Forthethreeandninemonthsending June30,2022,revenueswere$2.9 millionand$3.2million,respectively, asopposedtonilforthe correspondingthreeandninemonths ending2021.
FromQ22021,totalrevenueclimbedby14%to$42 million. Incomparisontoanetlossof$4 millionandanoveralllossof$9 millioninQ22021,thenetlossin Q22022was$142million.
Comparedto$24million,or65%ofrevenue,inQ22021and $21million,or53%ofrevenue,inQ12022,adjustedEBITDA was$19million,or45%ofrevenue. CoinbaseGlobal,Inc.
saidinitsshareholderletterthatthedeclineincryptoassetprices significantlyimpacteditssecondquarterfinancialresults,whichwereinline withtheoutlookprovidedinMay. Netrevenuewas$803million, down31%comparedtoQ1,due tolowertransactionvolume.
Withoutnon-cashimpairmentcharges,thenetloss wouldhavebeen$647million. Despitethecontinuedmarket weakness,Coinbaseserved9.0 millionMTUsinthesecond quarter,adecreaseof0.2million or2%fromQ1.
Totaltradingvolumefellto$217billion,down30%fromthe firstquarter. ForQ12022,HiveBlockchainreporteddigitalcurrencyminingrevenueof$44.2million,anincreaseofapproximately13%overtheprioryear,primarilyduetoincreasedBitcoinproductionduetofacilityacquisitionsinQuebecandAtlantic,inadditiontoexpansionsofthecompany'sflagshipEuropea
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