Main page News, Mining

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.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Strawberry Cake Media Corp. © 2024 Cookie Policy Editorial team Archive

ihodl.com is an illustrated edition about cryptocurrencies and financial markets.
Every day we publish the best materials for everyone interested in economy.