[Havoc]

Took a quick look at their financials...

I reckon this move is related to bitcoin doing poorly. A LOT of their revenue is bitcoin related and I reckon they realized they're going to have an absolute stinker of a Q1 '26 result...

[sealeck]

> I reckon this move is related to bitcoin doing poorly. A LOT of their revenue is bitcoin related and I reckon they realized they're going to have an absolute stinker of a Q1 '26 result...

I had to look this up - in the last 12 months total revenue was ~24 billion of which ~8.5 billion was from the Bitcoin "ecosystem"! Truly bizzare to stake your company on this...

https://d18rn0p25nwr6d.cloudfront.net/CIK-0001512673/55ca61a...

[Havoc]

Yes though there is a corresponding cost line as well so that’s not 8.5 in profit. Sounds like they’re buying and selling coins effectively

[andriy_koval]

nothing bizzare to invest into the area if some people pay 8.5b

[slantedview]

The CEO's last visionary move was to go all in on crypto, even renaming the company. Now he's a visionary again, but firing half the company instead of himself.