FASB

BitFuFu Inc. Reports Unaudited First Quarter 2024 Financial Results

Retrieved on: 
星期一, 五月 20, 2024
Bitcoin, Crypto, PIN, Mining, Disclosure, Miner, Marketing, BTC, FASB, Swings, Total, Growth, Advertising, Cryptocurrency, Research

Revenue from Bitcoin self-mining operations in the first quarter of 2024 was US$60.1 million, representing an increase of 117.0% from US$27.7 million in the same period of 2023.

Key Points: 
  • Revenue from Bitcoin self-mining operations in the first quarter of 2024 was US$60.1 million, representing an increase of 117.0% from US$27.7 million in the same period of 2023.
  • Revenue from sales of mining equipment in the first quarter of 2024 was US$0.7 million, compared to no revenue from in the same period of 2023.
  • Sales and marketing expenses in the first quarter of 2024 were US$0.4 million, flat when compared to US$0.4 million in the same period of 2023.
  • Net income in the first quarter of 2024 was US$35.3 million, compared with US$2.7 million in the same period of 2023.

Hut 8 Reports First Quarter 2024 Results

Retrieved on: 
星期三, 五月 15, 2024
Cloud, Partnership, Power, Digital asset, Mining, Miner, FASB, Growth, Supplement, Acquisition, Depreciation, GAAP, Hut 8, ASU, Adjustment, Electricity, Interest, Business analyst, Cryptocurrency

MIAMI, May 15, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, today announced its financial results for the three months ended March 31, 2024.

Key Points: 
  • Bitcoin mined excluding our net share of the King Mountain JV was 592 and 326 for the three months ended March 31, 2024 and 2023, respectively.
  • The result was an increase in depreciation expense of $2.7 million for the three months ended March 31, 2024.
  • Net income attributable to Hut 8 for the three months ended March 31, 2024 increased to $250.9 million, compared to $17.3 million in the prior year period.
  • Analyst Coverage of Hut 8 Mining:
    A full list of Hut 8 Corp. analyst coverage can be found here: https://hut8.com/investors/ .

Spire Global Announces First Quarter 2024 Results

Retrieved on: 
星期三, 五月 15, 2024
Software, Professional Services, Data Management, Technology, Artificial Intelligence, Security, Satellite, Data Analytics, Maritime, Transport, Aerospace, Manufacturing, Security (finance), Risk, Tax, Bank statement, Life, Marketing, Forecasting, FASB, Acquisition, Depreciation, Annual report, GAAP, Accounting, Loss, Table, Adjustment, Nature, Webcast, Public expenditure, ExactEarth, Insurance

Spire has provided a reconciliation of GAAP to non-GAAP financial measures in the tables included in this press release for its first quarter 2023 and 2024 results, as well as its outlook for such measures for the second quarter and full year 2024.

Key Points: 
  • Spire has provided a reconciliation of GAAP to non-GAAP financial measures in the tables included in this press release for its first quarter 2023 and 2024 results, as well as its outlook for such measures for the second quarter and full year 2024.
  • Spire excludes these items as they do not reflect the underlying cash flows or operational results of the business.
  • Spire excludes other (expense) income, net because it includes unusual items that do not reflect the underlying operational results of its business.
  • Spire excludes these as they are unusual items that do not reflect the ongoing operational results of its business.

Marathon Digital Holdings Reports First Quarter 2024 Results

Retrieved on: 
星期四, 五月 9, 2024
Bitcoin, Crypto, Risk, Annual report, Webcast, Cryptocurrency, Disclosure, Acquisition, FASB, Bank statement, Marathon Digital, Miner

Revenues increased 223% to $165.2 million in the first quarter of 2024 from $51.1 million in the first quarter of 2023.

Key Points: 
  • Revenues increased 223% to $165.2 million in the first quarter of 2024 from $51.1 million in the first quarter of 2023.
  • Gains on digital assets were $488.8 million during the first quarter of 2024, compared to $137.4 million during the first quarter of 2023.
  • Adjusted EBITDA increased 266% to $528.8 million in the first quarter of 2024 from $144.5 million in the first quarter of 2023.
  • Marathon Digital Holdings will hold a webcast and conference call today, May 9, at 5:00 p.m. Eastern time to discuss its financial results for the quarter ended March 31, 2024.

BitFuFu Inc. Reports Full Year 2023 Financial Results

Retrieved on: 
星期四, 四月 11, 2024
Bitcoin, Cloud, Total, PIN, BTC, Research, FASB, Marketing, Advertising, Mining, Growth, Miner, Cryptocurrency

Leo Lu, Chief Executive Officer and Chairman of the Board of Directors, said, “In 2023, BitFuFu witnessed significant growth, reflecting the increasing recognition of the value we offer customers through our cloud-mining solutions.

Key Points: 
  • Leo Lu, Chief Executive Officer and Chairman of the Board of Directors, said, “In 2023, BitFuFu witnessed significant growth, reflecting the increasing recognition of the value we offer customers through our cloud-mining solutions.
  • BTC production from self-mining operations increased 26.6% to 3,577 BTCs in 2023, from 2,825 BTCs in 2022.
  • Sales and marketing expenses in 2023 were US$1.9 million, representing a decrease of 5.3% from US$2.0 million in 2022.
  • Impairment loss on digital assets in 2023 was US$7.0 million, representing a decrease of 45.7% from US$12.9 million in 2022, primarily due to the increase in BTC price in 2023.

TaxBit Builds Momentum in Digital Asset Compliance with New Funding for Strategic Product Expansion

Retrieved on: 
星期四, 四月 25, 2024
Public sector, Government, IQT, GAAP, Investment, FASB, Cryptocurrency

NEW YORK, April 25, 2024 /PRNewswire/ -- TaxBit, the leading provider of tax and accounting compliance solutions, has announced a strategic investment from In-Q-Tel (IQT), the not-for-profit strategic investor for the U.S. national security community and America's allies. This development comes in response to growing demand for expanded use cases and digital asset compliance solutions on a global scale.

Key Points: 
  • This development comes in response to growing demand for expanded use cases and digital asset compliance solutions on a global scale.
  • "This is an exciting milestone for TaxBit and a testament to our credibility as a trusted partner across the digital asset space," said Lindsey Argalas, CEO of TaxBit.
  • "This investment from IQT further underscores the incredible technology and expertise our team has built for the digital asset industry.
  • Everything we do aims to secure regulatory trust while enabling compliant digital asset innovation for the global economy."

Wah Fu Education Group Ltd. Announces Unaudited Financial Results for the First Half of Fiscal Year 2024

Retrieved on: 
星期一, 四月 1, 2024
Disclosure, Bank statement, Total, Tax, Marketing, FASB, Information technology, Investment, Depreciation, Cryptocurrency

Incomes from operations were $0.27 million and $1.12 million for the each of six months ended September 30, 2023 and 2022.

Key Points: 
  • Incomes from operations were $0.27 million and $1.12 million for the each of six months ended September 30, 2023 and 2022.
  • Unaudited Financial Results for the six months ended September 30, 2023
    For the six months ended September 30, 2023, revenue decreased by $1.81 million, or 33.1%, to $3.65 million from $5.45 million for the same period of the prior fiscal year.
  • For the six months ended September 30, 2023, revenue from providing online education services decreased by $1.83 million for the same period of the prior fiscal year.
  • Management has evaluated subsequent events through April 1, 2024, the date which the financial statements were available to be issued.

TaxBit Expands Digital Asset Accounting Services, Adding IFRS and Multi-Functional Currency Support for International Customers

Retrieved on: 
星期四, 三月 21, 2024
Cost basis, Growth, International, International Financial Reporting Standards, FASB, Bank statement, Investment, Book, Cryptocurrency

NEW YORK, March 21, 2024 /PRNewswire/ -- TaxBit, the leading provider of compliance solutions for digital assets, today announced that the TaxBit Accounting Suite now supports International Financial Reporting Standards (IFRS) and multi-functional currencies, bringing the solution to a globally recognized standard for accounting compliance.

Key Points: 
  • NEW YORK, March 21, 2024 /PRNewswire/ -- TaxBit , the leading provider of compliance solutions for digital assets, today announced that the TaxBit Accounting Suite now supports International Financial Reporting Standards (IFRS) and multi-functional currencies, bringing the solution to a globally recognized standard for accounting compliance.
  • IFRS , set by the International Accounting Standards Board, is a set of accounting standards that dictate reporting practices for financial statements.
  • TaxBit's Accounting Suite also complies with the Financial Accounting Standard Board's December 2023 Accounting Standards Update , which provides clarity and guidance on the accounting for and disclosing digital assets.
  • Enhanced Compliance: With support for both IFRS and FASB standards, TaxBit ensures that users' reporting remains aligned with regulatory compliance standards.

Cipher Mining Provides Fourth Quarter and Full Year 2023 Business Update

Retrieved on: 
星期二, 三月 5, 2024
Black Pearl, FASB, GAAP, JV, PIN, Telephone

NEW YORK, March 05, 2024 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ: CIFR) ("Cipher" or the "Company") today announced results for its fourth quarter and full year ended December 31, 2023, with an update on its operations and deployment strategy.

Key Points: 
  • "We are delighted to announce our fourth quarter 2023 results, which reflect our first full quarter in which all four of our data centers were operating at full capacity.
  • We delivered a quarter with strong positive net income on both a GAAP and Non-GAAP basis.
  • And while recent FASB accounting changes have been a tailwind for all the miners’ earnings, Cipher was net positive for the quarter even without those accounting changes,” said Tyler Page, CEO of Cipher.
  • To access this conference call by telephone, register here to receive dial-in numbers and a unique PIN to join the call.

Marathon Digital Holdings Reports Fourth Quarter and Fiscal Year 2023 Results

Retrieved on: 
星期三, 二月 28, 2024
Crypto, Risk, Annual report, Mining, Bank statement, Sale, Marathon Digital, Disclosure, Webcast, Cryptocurrency, FASB, Depreciation

Fort Lauderdale, FL, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Marathon Digital Holdings, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), a leader in supporting and securing the Bitcoin ecosystem, reported its financial and operational results for the fourth quarter and fiscal year ended December 31, 2023.

Key Points: 
  • The Company sold 74% of the total bitcoin it produced in 2023 to fund operating costs.
  • Fiscal year 2022 results were also impacted by an $85.0 million loss on digital assets held within the investment fund, partially offset by an $83.9 million gain on sale of equipment, both of which were absent in fiscal year 2023.
  • Gains on digital assets were $331.5 million in 2023, compared to a loss on digital assets of $14.5 million in 2022.
  • Marathon Digital Holdings will hold a webcast and conference call today, February 28, at 5:00 p.m. Eastern time to discuss its financial results for the quarter ended December 31, 2023.