Hyperscale Data Q2 revenue rises on blockchain initiatives growth - GPUS News | RalliesHyperscale Data Q2 revenue rises on blockchain initiatives growth
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GPUS• Drivers behind the quarter
- BLOCKCHAIN INITIATIVES - Co said blockchain initiatives drove 647% yr/yr increase in Other Revenue in Q2
- HIGHER-MARGIN BLOCKCHAIN REVENUE - Co said higher-margin blockchain-related revenue contributed to 44% increase in Q2 gross profit
- R&D INVESTMENT - Co said increased research and development expenses reflected investment in AI and blockchain initiatives
| Metric | Actual |
|---|
| Q2 Revenue | $34.8 mln |
Quarterly revenue and profit rise
- AI data center firm's Q2 revenue grew 35% yr/yr, driven by blockchain-related initiatives
- Other Revenue, mainly blockchain, jumped 647% yr/yr in Q2
- Quarterly gross profit rose 44%, aided by higher-margin blockchain revenue
Outlook for blockchain products and services
- Company expects future revenue opportunities from new blockchain products and services
- Company says blockchain-related revenue could exceed combined revenue from other businesses
- Development and commercialization of new products remain subject to technical and regulatory risks
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