Intchains Posts RMB 220.9M Revenue Drop and 56% ETH Holding Surge
Intchains Group’s 2025 revenue plunged 21.6% to RMB 220.9M, driving a RMB 104.7M operating loss and RMB 52M net loss while ending the year with $67.8M cash against $6.2M liabilities. The company boosted Ethereum holdings 56% to 8,826 ETH by year-end and increased staking to 2,600 ETH.
1. Financial Results
In 2025, Intchains Group reported revenue of RMB 220.9 million, down 21.6% year over year, resulting in an operating loss of RMB 104.7 million and a net loss of RMB 52 million. The company ended the year with $67.8 million in cash and only $6.2 million in total liabilities.
2. Mining Product Mix
The company introduced its XTM miner series, which significantly bolstered fourth-quarter net revenues, alongside Goldshell's Byte Dual Miner supporting six cryptocurrencies. Earlier in 2025, Intchains launched Aleo and Dogecoin miner models, driving early-year sales growth.
3. Ethereum Accumulation and Staking
As of December 31, 2025, Intchains held 8,826 ETH, a 56% increase from the prior year, and by February 23, 2026, had exceeded 9,070 ETH. The firm stakes 2,600 ETH (28.7% of holdings) through FalconX and Goldshell Stake, and manages an additional 1,359 ETH for third-party investors.
4. Regulatory Compliance and 2026 Outlook
In response to Mainland China’s notice restricting domestic mining machine sales, Intchains is enhancing internal controls but expects no material impact given its export-focused channels. The company plans to maintain its dual staking platform strategy and expand international cryptocurrency staking services in 2026.