Intchains Group Ltd. has reported a substantial increase in sales for the fiscal year ending December 31, 2024, with revenues reaching RMB281.8 million (US$38.6 million), marking a 242.7% increase from RMB82.2 million in 2023. The company attributes this significant growth to a considerable rise in the average selling price of its altcoin mining products. The net income for the year was RMB51.5 million (US$7.1 million), a notable turnaround from a net loss of RMB26.8 million in the previous year. This improvement highlights the company's successful strategic initiatives and its ability to capitalize on favorable market conditions. Intchains Group Ltd. continues to focus on its core business of altcoin mining product sales and the strategic acquisition and development of Ethereum-based cryptocurrencies, along with innovative Web3 applications. This strategic direction appears to have positively impacted its financial performance.
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