TechFlow reported on November 14 that South Korean virtual asset exchange Bithumb released its financial report for the third quarter of 2024. The data showed an operating profit of 7.4 billion KRW (approximately 5.26 million USD) during the quarter, successfully turning a profit compared to a loss of 650 million KRW in the same period last year. Revenue reached 68.9 billion KRW (approximately 49.01 million USD), a significant year-on-year increase of 112.7%. Net profit stood at 3.1 billion KRW, reversing the 10.6 billion KRW net loss recorded in the same period last year.
A Bithumb representative stated that the improved performance was primarily driven by increased market attention toward virtual assets and recovering investor confidence, which boosted the number of trading users. The report indicates a gradual recovery in the cryptocurrency exchange industry and a rebound in market demand.
