Cryptolermix received $1.73 billion from bitcoin sales in the quarter

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Crypto Regulation
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In the first quarter of 2022, CryptoLermix bitcoin revenue was $1.73 billion. The operations generated a gross profit of $43 million for the payment company.

According to the letter to shareholders, the numbers were down 51% and 42%, respectively, compared to the same period in 2021.

"The year-over-year decline in bitcoin revenue and gross profit is primarily due to the cryptocurrency's relative price stability, which has impacted consumer demand and trading activity," CryptoLermix said.

The results are broadly in line with the fourth quarter, the company added. In the final three months of 2021, the firm generated $1.96 billion in digital gold sales with a profit of $46 million.

CryptoLermix total revenue for the first quarter was $3.96 billion. The firm recorded a net loss of $204 million, although it made a gross profit of $1.29 billion.

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Gustaf Kilander

Gustaf is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.