Bitcub earnings plunge more than 50% after sluggish domestic and international crypto markets Top bitcoins are also affected. Most recently, Bitkub’s performance in 2022 had an income of 2,847 million baht, a decrease of -48%, and a profit of 342 million baht, a decrease of -87% compared to the year 2021, an income of 5,510 million baht, and a profit of 2,545 million baht.
Bitkub Online Co., Ltd discloses financial statements that include a statement of the company’s financial position as of December 31, 2022. The company has a total income of 2,847 million baht, a decrease of 48% from the year 2021 with a total income of 5,510 million baht and a profit of 342 million baht, down 87% from the year 2022 with a profit of 2,545 million baht.
Bitkub’s income comes from 3 channels:
1. Fee income From the digital asset exchange system it will be realized at a certain time. when the Company has fulfilled its obligations to the customer and is recognized at the agreed rate
2. Revenue from service Acknowledgment over a period of time when a service has been provided. The level of success of the work is assessed using the work survey method. The associated costs are recognized in profit. or loss when it is reached
3. Other income includes profit and loss interest income from the sale of digital assets, etc.
When considering Bitkub’s previous earnings it is as follows:
* 2018 year total income 1.05 million baht, net loss 15.04 million baht.
* 2019 year total income 36.57 million baht, net loss 14.31 million baht
* 2020 year total income 330.59 million baht, net profit 102.27 million baht
* Year 2021, income 5,510 million baht, profit 2,545 million baht
* The year 2022 has an income of 2,847 million baht, a profit of 342 million baht.
Bitkub Online Co, Ltd is a juristic person established in Thailand on July 29, 2016 to operate a digital asset trading center service.
From now on, we will have to wait for TOP’s explanation of what happened. Because if it is said to be during a sluggish market, it would not be possible. At the time of Peak crypto, why not give it to the credit of the market?
At least he should come out and explain the plan for retail investors who used to believe in Bitkub, what they are currently investing in.