The quarterly report is actually better than the market is reflecting. For some reason they did not release the earnings prior to the video conference call, and there were some unfortunate typos in the report that diminished the actual results. For example:
Under financial highlights it states: “For the three months ended December 31, 2021, we had total revenue of $8,826,862 compared to $2,226,404 of revenue for three months ended December 31, 2020, an increase of $607,169 or 27.3%.” However, the increase in quarterly revenue was actually $6,600,458 or 296%.
The reported loss was due to the cost of acquiring the new companies and additional revenue they brought along, as well as the cost of all of the new antminer machines and getting those facilities up and running. The huge increases in revenue should continue.
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