Coincheck Group N.V. (Nasdaq: CNCK) reported a 75% increase in total revenue for the fiscal 2025 third quarter, reaching ¥123.1 billion, up from ¥70.3 billion in the previous quarter.
This surge followed its business merger with Thunder Bridge Capital Partners IV, Inc., finalized on December 10, 2024, which led to its Nasdaq listing on December 11.
Alongside revenue growth, marketplace trading volume more than doubled, rising 113% to ¥117.4 billion. Gross margin climbed 135% to ¥4.8 billion, while adjusted EBITDA surged 1,005% to ¥2.76 billion. Customer assets increased by 72% to ¥1.095 trillion, while verified accounts grew 4.6% to 2.19 million.
Despite these gains, the company posted a net loss of ¥15.45 billion, mainly due to ¥17.5 billion in transaction costs, including ¥13.17 billion in listing-related expenses. Selling, general, and administrative expenses also rose significantly, jumping 222% to ¥6.43 billion.
Regarding strategic developments, Coincheck launched its Ethereum staking service on January 13, 2025, allowing users to earn rewards by depositing ETH. Further strengthening its position, the company announced the acquisition of Next Finance Tech Co., Ltd. on February 10, 2025, expanding its global staking services.
CEO Gary Simanson highlighted the company’s Nasdaq debut as a key milestone, emphasizing its plans for expansion and acquisitions. Executive Chairperson Oki Matsumoto reaffirmed the focus on growing within Japan while pursuing global opportunities.
Similarly, HIVE Digital Technologies reported strong Q3 2024 results, posting $29.2 million in revenue, primarily from Bitcoin mining. The company produced 322 BTC, bringing total holdings to 2,805 BTC, valued at $260 million—a 263% year-over-year increase, which Executive Chairman Frank Holmes called a “record milestone.” Beyond Bitcoin mining, HIVE’s high-performance computing segment contributed $2.5 million in revenue, with an annualized run rate of $10 million. Despite a challenging market environment, the company maintained a solid financial standing, achieving a $6.1 million operating margin and a $1.3 million net income.
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