Bitcoin mining company Mawson reported a revenue of $11.3 million in Q3, producing 246 BTC

ChainCatcher news, Bitcoin mining company Mawson Infrastructure Group announced its financial report for the third quarter of 2023, with an output of 246 BTC, a quarter-on-quarter increase of 35%; self-mined BTC revenue increased by 41% quarter-on-quarter to $6.9 million; as of September 30, Mawson's revenue was $11.3 million, a quarter-on-quarter increase of 7%.

The cost of revenue for the third quarter of 2023 decreased by 58% compared to the same period last year, and increased by 10% quarter-on-quarter, rising from $7 million to $7.7 million; the gross profit for this quarter was $3.6 million, a quarter-on-quarter increase of 3%, mainly due to the combined effects of operational improvements, reduced electricity costs, and improved BTC market indicators, while the gross profit for the same period last year was $10.1 million, a quarter-on-quarter decrease of 64%; SG&A expenses for the third quarter of 2023 decreased by 42% sequentially, from $6.3 million to $3.7 million, due to the company's operational efficiency and the initial results of cost optimization activities implemented by the new management in recent months, compared to $5 million in the same quarter last year.

In the third quarter of 2023, Mawson reported a net loss of $16.2 million, compared to a net loss of $17.7 million in the previous quarter and a net loss of $8.2 million in the same period last year.