SBI’s crypto focused VC arm earns $30M profit, SBI is also mining Bitcoin

posted 18 days ago
SBI Securities’ trading revenue surged 19.2% in 2019, largely due to the inclusion of the company’s crypto investment wing, netting a $30M profit for the year. Japanese financial services giant SBI Holdings saw major growth of SBI’s crypto-heavy venture capital arm in 2019 amid a general decline in SBI’s revenue.

SBI has also recorded a significant increase in profits from its cryptocurrency mining business SBI Crypto, $2.7 million in 2019. SBI added that it also expects a further increase in the scale of crypto asset mining due to new miner operations within the year as well as in-house miner operations in 2020. Also, earlier this year, SBI established a dedicated division for manufacturing crypto mining chips.
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