Intchains Group Ltd. ADR ( (ICG) ) has released its Q4 earnings. Here is a breakdown of the information Intchains Group Ltd. ADR presented to its investors.
Intchains Group Ltd. ADR is a company specializing in altcoin mining products, Ethereum-based cryptocurrency holdings, and Web3 application development. The company recently reported its unaudited financial results for the fourth quarter and full year of 2024.
Intchains Group Ltd. saw significant growth in the fourth quarter of 2024, with a 109.2% increase in revenue to RMB74.2 million (US$10.2 million) compared to the same period in 2023. The company also experienced a 58.2% rise in net income, reaching RMB12.8 million (US$1.8 million). This growth was driven by a substantial increase in the sales volume of ASIC chips used in altcoin mining products.
For the full year 2024, Intchains Group Ltd. reported a remarkable 242.7% increase in revenue, totaling RMB281.8 million (US$38.6 million). The company achieved a net income of RMB51.5 million (US$7.1 million), a significant turnaround from a net loss in 2023. The gains were attributed to the launch of new products and improved cryptocurrency market conditions.
Looking ahead, Intchains Group Ltd. plans to expand its presence in altcoin development and continue its Ethereum treasury strategy. The company introduced the AE BOX series for Aleo mining and launched the Goldshell Wallet, enhancing its Web3 ecosystem. Management remains optimistic about the company’s growth prospects in 2025, driven by ongoing research and development investments.