Bithumb, a leading cryptocurrency exchange in South Korea, has shown positive financial results in the first half of 2025. The rapid revenue growth is accompanied by plans for an IPO.
Bithumb's Revenue Growth
Bithumb reported a 35% increase in revenue in the first half of 2025 compared to the same period last year, accumulating 329.16 billion won in sales.
Company Financial Results
Despite the revenue growth, Bithumb's operating profit fell by 5.7% to 90.12 billion won, and net profit dropped by 46.5% to 55.04 billion won. The decline was attributed to higher spending on user benefits and losses from certain cryptocurrencies.
IPO Plans
Bithumb is preparing for an Initial Public Offering (IPO) by the end of 2025, starting with a listing on South Korea's Kosdaq and potentially later on the U.S. Nasdaq. The IPO process will be directed by Samsung Securities.
Bithumb demonstrates resilience in the cryptocurrency market despite competitive challenges and financial difficulties, paving the way for its IPO and promising future growth.
