Herford, 25 September 2024 – Bitcoin Group SE (ISIN DE000A1TNV91) published its Half-Year Report 2024 today. The first half of 2024 in crypto trading was characterized by the positive development of cryptocurrencies in the first quarter, followed by a volatile development in the second quarter due to various market-related uncertainties.

 Bitcoin Group SE generated operating revenue of EUR 4.20 million in the first half of 2024 after EUR 5.62 million in the same period of the previous year. The decline was due in particular to the discontinuation of express trading. Earnings before interest, taxes, depreciation and amortization (EBITDA) improved to EUR 0.57 million after EUR -0.56 million in the first half of 2023. The bottom line was earnings per share of EUR 0.11, compared to EUR 0.38 in the previous year.

 The balance sheet situation remains rock solid with an equity ratio of 73.6% as at 30 June 2024 (31 December 2023: EUR 74.7%) and cash and cash equivalents of EUR 9.8 million after EUR 11.1 million as at 31 December 2023. Due to the positive price performance of the most important cryptocurrencies in the first half of 2024, net crypto holdings increased to EUR 245.6 million after EUR 164.8 million at the end of the 2023 financial year.

 "We can look back on stable development in the first half of 2024. We were able to increase our user base from around 1,055,000 to registered 1,063,000 users, which makes us optimistic about the future. All the more so as the acceptance of cryptocurrencies and thus their trading has continued to increase. In particular, the approval of ETFs on Bitcoin and Ethereum by the US Securities and Exchange Commission this year is contributing to increased demand for crypto assets and also to a broadening of the potential customer base. Given that the global market value of all cryptocurrencies currently corresponds to just 1.8% of the global market value of all equities and 1.7% of the global bond volume, there is still plenty of room for growth for our industry and for us as the Bitcoin Group," says Marco Bodewein, CEO of Bitcoin Group SE.

 The Management Board of Bitcoin Group SE assumes that the price of cryptocurrencies and media interest will continue to shape the 2024 financial year. Due to the high volatility in the crypto sector and in the context of macroeconomic and geopolitical uncertainties, it is very difficult to make a valid forecast for the year as a whole. However, the Management Board expects revenue to remain stable and EBITDA to be slightly positive for 2024 as a whole.

 The Half-Year Report 2024 is available for download in the Publications section of bitcoingroup.com. The English report will be available by the beginning of October 2024.