Huobi Pool, the crypto mining business of the Huobi Group, published a report for 3Q, which discloses an operating profit of $825,744. For comparison, in 2Q the operating profit amounted to $213,243, which indicates a jump of 287% compared with the previous quarter.
Huobi Vice President Livio Weng said:
"Our performance in Q3 continued to show the strength of our business model. Compared to the current downturn in the Blockchain industry as a whole, we are quite pleased with Huobi Pool's performance."
The computing power for the Proof-of-Work (PoW) business has grown from 200P to 1500P and accounted for a significant part of an overall growth. In addition, the Delegated Proof-Of-Stake (DPoS) side of the business has expanded.
While large miners dominated the Huobi Pool client base, the number of small and medium-sized miners increased. During the last quarter, the company's cash flow increased and its debt level declined.
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