Phoenix Group, a publicly traded Bitcoin mining company and blockchain technology provider, has released its impressive Q1 financial results. The company noted a net profit of $66.2 million for the quarter, representing a substantial 166% increase compared to the same period in the previous year. This significant growth showcases the company's strong performance in the first quarter.

Furthermore, Phoenix Group's total assets experienced a remarkable 237% surge year-on-year, rising from $261 million to $879.3 million. Quarter-on-quarter, total assets showed a 5% increase, indicating consistent growth.

Revenue for the quarter also saw a notable 18% increase compared to the previous quarter, reaching $68.9 million. This revenue growth was accompanied by a significant jump in gross profit, which rose by 82.8% to $23.28 million.

In addition, the total comprehensive income witnessed an outstanding 312% year-on-year increase, totaling $102.28 million. On a quarter-on-quarter basis, the comprehensive income grew by 33.7%, demonstrating ongoing improvement. Earnings per share for the quarter stood at $0.011, reflecting the company's profitability.