Crypto investment firm CoinShares posted its most profitable quarter in a year, according to its latest quarterly earnings report.
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Cryptocurrency investment group CoinShares recently published its Q1 earnings report for 2023 amid what it’s calling a “return to profitability.”
Highlights of the report include revenue in the amount of $11.73 million (down from $22.46 million in Q1 2022), total comprehensive income of $3.62 million (down from $25.83 million in Q1 2022) and an adjusted earnings before interest, taxes, depreciation, and amortization (EBIDTA) of $10.61 million (down from $25.83 million in Q1 2022).
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Overall, for 2022, CoinShares posted an operating loss of $25.21 million, in stark contrast to the company’s operating profit of $126.54 million reported for 2021.
Despite the market conditions,
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