6 ms·
25 million in profit with 22 million in turnover last year. Not sure how that works exactly, but seems like money wasn't an issue at least. This is all publicl
by Olphs 4y ago
25 million in profit with 22 million in turnover last year. Not sure how that works exactly, but seems like money wasn't an issue at least.
This is all publicly available since the company behind it, is based in Finland
- donkeyd 4y ago> Not sure how that works exactly My gusss is: If they take a cut in crypto and that crypto increases in value, that increase wouldn't be turnover but it would be profit?
- miohtama 4y agoCorrect. Capital gains is profit.
- sh4rks 4y agoFurther down, I'm reading comments saying that they did shut down because of a lack of profitability. So which one is it?
- nikanj 4y agoSelling assets pumps up the bottom line, but if that's your only source of income, you're better off just liquidating the company and cutting the losses
- joyfylbanana 4y agoLooking at the downward trend in volumes, I suspect the profits come from the results of selling their bitcoins they have been holding in the balance sheet, the service itself is unprofitable.
- nikanj 4y agoThey held a ton of cryptos they got when BTC was $verylittle, and have been slowly selling to cover expenses?