GMO Reports $5.6 Million Q3 Loss on Crypto Mining
Japanese IT giant GMO has reported a loss from crypto mining in Q3, but there was more positive news for its exchange business.
Japanese IT giant GMO Internet has reported an operating loss of nearly $12 million for its crypto business in 2018, with mining worst hit.
Chip-making giant TSMC has reported a significant drop in revenue for its crypto mining segment in 2018.
Graphics card maker Nvidia has said the downturn in sales to crypto miners drove a drop in revenue in Q4, despite a record year overall.
Japanese IT giant GMO Internet plans to stop making and selling crypto mining machines, only months after launching its B3 miner.
Mike Novogratz’s crypto merchant bank, Galaxy Digital Holdings, has reported losses for the first nine months of 2018.