Intchains Group Limited (NASDAQ: ICG) reported its unaudited financial results for the fourth quarter and full year ended December 31, 2025. Q4 revenue fell to RMB 36.1 million (US$5.2 million), a 51.3% decline from RMB 74.2 million in the same period a year earlier, driven by softer demand for its altcoin‑mining machines and inventory impairment charges. The company’s net loss for the quarter widened to RMB 130.7 million (US$18.7 million), compared with a net income of RMB 12.8 million (US$1.8 million) in Q4 2024. The loss was largely offset by a fair‑value loss of RMB 74.4 million (US$10.6 million) on its cryptocurrency holdings, reflecting a decline in ETH prices during the quarter.
For the full year, Intchains posted revenue of RMB 220.9 million (US$31.6 million), down 21.6% from RMB 281.8 million in 2024, and a net loss of RMB 52.0 million (US$7.4 million). The year‑over‑year revenue decline mirrors the sharp drop in demand for mining hardware, while the loss is amplified by the fair‑value write‑down of ETH holdings and inventory impairment charges. Management noted that the decline in mining‑machine sales was a result of cyclical market fluctuations and softer demand in the second half of the year.
Intchains’ Ethereum treasury has grown, with 9,070 ETH units held and 2,600 ETH staked as of February 23, 2026. The company’s strategy to stake through FalconX and the newly acquired Goldshell Stake platform, purchased in December 2025 for $1.3 million, is intended to generate incremental returns and provide a more stable, recurring revenue stream. Management emphasized that the dual‑platform staking approach will help monetize idle ETH and support long‑term value creation.
The company’s guidance for 2026 signals a cautious outlook. Intchains plans to accelerate ETH staking activities, gradually staking the bulk of its treasury holdings on FalconX and Goldshell Stake, while pursuing cost optimization through headcount and organizational restructuring. New mining product launches are targeted for the second half of 2026, indicating continued investment in the core hardware business despite current headwinds.
The results highlight a significant shift in Intchains’ business mix: revenue from mining hardware has contracted sharply, while the company is pivoting toward staking and treasury management to offset the volatility of mining‑machine sales and cryptocurrency price swings. The net loss and revenue decline underscore the challenges of operating in a highly cyclical market, but the growing ETH treasury and staking strategy suggest a strategic move toward more predictable income streams.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.