Summary
- "They stated that Dogecoin (DOGE) mining rig orders have surged, resulting in a supply shortage."
- "Intchains reported revenue of $38.6 million for fiscal year 2024."
- "The 84% year-over-year increase in ASIC chip sales is attracting investors' attention."
Chinese altcoin mining rig manufacturer Intchains announced in its fiscal year 2024 earnings report that "due to the influence of US President Donald Trump and Tesla CEO Elon Musk, orders for Dogecoin (DOGE) mining rigs have surged to the point where supply cannot keep up."
According to cryptocurrency media The Block on the 28th (local time), Intchains recorded sales of $38.6 million and net profit of $8.3 million during the period. This represents a 242% increase compared to the previous year.
Additionally, ASIC chip sales increased by 84% year-over-year to 2.68 million units.
The company explained, "We have so many orders that we still haven't been able to deliver some of the DOGE mining rigs ordered in the fourth quarter of last year to customers."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.![Liquidity strains deepen as trading volume contracts and funds exit…Can altcoins rebound? [Kang Min-seung’s Altcoin Now]](https://media.bloomingbit.io/PROD/news/5fa259b1-0308-4c7b-9259-04f38ad8fc2a.webp?w=250)
