Welcome to our dedicated page for Intchains Group American Depositary Shares news (Ticker: ICG), a resource for investors and traders seeking the latest updates and insights on Intchains Group American Depositary Shares stock.
Intchains Group Limited (symbol: ICG) specializes in providing integrated solutions featuring high-performance ASIC chips and ancillary software and hardware for blockchain applications. The company's ASIC chips are designed to support several key blockchain algorithms including Blake2bsha3, sha512MD160, Cryptonight V4, Eaglesong, and Blake2s, among others.
Intchains Group Limited has developed a proprietary technology platform known as the Xihe Platform. This platform enables the company to create a wide range of ASIC chips with high efficiency and scalability. By designing ASIC chips in-house, Intchains leverages proprietary silicon data to produce products that incorporate the latest technological advancements.
Recently, Intchains Group Limited reported an increase in interest income by 22.3% for the fourth quarter of 2023, amounting to RMB4.2 million (approximately US$0.6 million) compared to RMB3.5 million for the same period in 2022. This growth is mainly attributable to effective cash management strategies.
The company continues to strengthen its presence in the blockchain industry through strategic partnerships and the continuous development of cutting-edge products. Intchains is dedicated to providing innovative solutions that meet the evolving needs of the blockchain sector.
Intchains Group (Nasdaq: ICG), an altcoins development company, has provided updates on its ETH activities and holdings. Between September 30 and November 28, 2024, the company acquired 915.3 ETH for approximately RMB20.7 million (US$2.9 million), at an average price of RMB22,626 (US$3,123) per ETH. As of November 28, 2024, the company's total ETH holdings reached 5,066.6 ETH, acquired at an aggregate purchase price of RMB107.0 million (US$14.8 million), with an average purchase price of RMB21,117 (US$2,914) per ETH.
Intchains Group reported strong Q3 2024 financial results with revenue reaching RMB60.3 million (US$8.6 million), up 781.4% year-over-year. The company achieved a net income of RMB3.2 million, compared to a net loss of RMB19.1 million in Q3 2023. ASIC chip sales volume increased 25.9% to 207,838 units. The company's cryptocurrency assets reached RMB149.5 million, including 4,149 ETH and approximately 9.8 million USDT/USDC. Notable developments include the launch of Goldshell Pay payment solution and plans for a hardware crypto wallet in Q4 2024.
Intchains Group (Nasdaq: ICG), a provider of high-performance computing ASIC chip solutions and Ethereum cryptocurrency holder, has scheduled its Q3 2024 earnings release for November 20, 2024, after U.S. market close. The company will host an earnings conference call at 8:00 P.M. U.S. Eastern Time on November 20, 2024 (9:00 A.M. Beijing Time on November 21, 2024) to discuss financial results for the quarter ended September 30, 2024. Participants must register online to receive dial-in numbers and a personal access PIN. A live and archived webcast will be available on the company's website.
Intchains Group (Nasdaq: ICG) reported strong financial results for Q2 2024:
- Revenue increased 785.1% YoY to RMB123.0 million (US$16.9 million)
- Net income of RMB50.4 million (US$6.9 million), compared to a net loss in Q2 2023
- ASIC chip sales volume decreased 26.2% YoY to 274,019 units
- Cryptocurrency holdings valued at RMB135.7 million (US$18.7 million)
Key highlights:
- Launched new Goldshell-branded computing equipment for cryptocurrency mining
- Expanded overseas, with 71.7% of Q2 revenue from international markets
- Continued focus on technological innovation and cryptocurrency acquisition strategy
Intchains Group (Nasdaq: ICG), a provider of integrated solutions for blockchain applications and a corporate holder of Ethereum-based cryptocurrencies, has announced its plans to release unaudited financial results for the second quarter of 2024. The results will be disclosed after the U.S. market closes on Thursday, August 15, 2024. Following the release, the company will host an earnings conference call at 9:00 P.M. U.S. Eastern Time on the same day (9:00 A.M. Beijing Time on August 16, 2024) to discuss the financial results. Interested participants can register for the call using the provided link and will receive dial-in numbers and a personal access PIN upon registration. A live and archived webcast of the conference call will also be available on the company's website.
Intchains Group (Nasdaq: ICG) reported its unaudited Q1 2024 financial results on May 17, 2024. ASIC chip sales remained stable at approximately 494,235 units. However, revenue decreased by 6.8% year-over-year to RMB24.3 million (US$3.4 million), primarily due to a one-off sale in Q1 2023. Net loss was RMB14.8 million (US$2.1 million), compared to a net income of RMB4.7 million the previous year.
The company saw a significant rise in operating expenses, mainly driven by a 357% increase in R&D costs. As of March 31, 2024, the fair value of their cryptocurrency assets was RMB23.6 million (US$3.3 million). Intchains has initiated a new cryptocurrency acquisition strategy aimed at strengthening its ETH-based asset reserves.
Intchains Group , a provider of high-performance computing ASIC chip products for blockchain applications, will report its unaudited financial results for the first quarter of 2024 on May 16, 2024. The earnings conference call to discuss the results will be held on the same day.
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