Bithumb Reports Operating Profit of 94.3 Billion KRW in H1, Up 639% YoY

First Half Sales Increase by 193% and Net Profit by 218%

Virtual asset exchange Bithumb announced on the 14th that it posted an operating profit of 94.3 billion KRW in the first half of this year, an increase of 639.2% compared to the previous year.

Through its semi-annual report, Bithumb revealed sales of 242.9 billion KRW and net profit of 102.8 billion KRW. This represents an increase of 193.6% and 218.4% respectively compared to the same period last year.

For the second quarter alone, it recorded sales of 104.7 billion KRW, operating profit of 32.3 billion KRW, and net profit of 10.9 billion KRW.

Growth slowed as investment sentiment weakened in the second quarter compared to the booming market in the first quarter.

Bithumb stated, "Although the overall transaction volume decreased due to worsening market conditions compared to the first quarter, we maintained profitability by securing a stable market share through active marketing activities and improvements in convenience."

They added, "Despite the market conditions deteriorating compared to the previous quarter, we were able to achieve improved performance compared to the same period last year by maintaining a stable market share. We will continue to strive to sustain solid growth by presenting new agendas to the market through user-centered service improvements and benefit offerings."