Bithumb Reports 67.8 Billion Won Operating Profit in Q1, Up 9.3% from Last Year

Virtual asset exchange Bithumb announced on the 15th that its operating profit for the first quarter of this year was 67.8 billion won, a 9.3% increase compared to the first quarter of last year (62.1 billion won).

Revenue increased by 40.9% to 194.7 billion won, but net profit decreased by 64.1% to 33 billion won.

Bithumb explained that the decline in net profit was due to valuation losses on virtual assets as the virtual asset market entered a correction phase.

The company added that, in line with the opening of the corporate market, it will drive market growth through differentiated investor protection and innovation in customer experience.