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Took a quick look at their financials... I reckon this move is related to bitcoin doing poorly. A LOT of their revenue is bitcoin related and I reckon they rea
by Havoc 8mo ago
Took a quick look at their financials...
I reckon this move is related to bitcoin doing poorly. A LOT of their revenue is bitcoin related and I reckon they realized they're going to have an absolute stinker of a Q1 '26 result...
- slantedview 8mo agoThe CEO's last visionary move was to go all in on crypto, even renaming the company. Now he's a visionary again, but firing half the company instead of himself.
- sealeck 8mo ago> I reckon this move is related to bitcoin doing poorly. A LOT of their revenue is bitcoin related and I reckon they realized they're going to have an absolute stinker of a Q1 '26 result... I had to look this up - in the last 12 months total revenue was ~24 billion of which ~8.5 billion was from the Bitcoin "ecosystem"! Truly bizzare to stake your company on this... https://d18rn0p25nwr6d.cloudfront.net/CIK-0001512673/55ca61a0-ba6a-49d6-be9f-9c4377f06aa2.pdf https://d18rn0p25nwr6d.cloudfront.net/CIK-0001512673/55ca61a...
- andriy_koval 8mo agonothing bizzare to invest into the area if some people pay 8.5b
- Havoc 8mo agoYes though there is a corresponding cost line as well so that’s not 8.5 in profit. Sounds like they’re buying and selling coins effectively