Dunamu Posts $165M Profit In Q3, Up 300% YoY

Upbit operator Dunamu reported a significant increase in profitability for the third quarter, posting 239 billion won ($165 million) in net income. This figure represents a surge of over 300% compared to the $40 million net income recorded during the same period last year, according to Chosun Biz citing Financial Supervisory Service filings.

Consolidated revenue climbed to $266 million, a 35% increase from the previous quarter. Operating profit rose 54% to $162 million, and net income jumped 145% quarter-over-quarter, reaching $67 million. The company attributes this improved performance to rising trading activity coinciding with the rebound of global digital asset markets in 2024 and 2025.

Dunamu credits recent regulatory developments in the United States, including the Genius Act, Clarity Act, and Anti-CBDC Bill, for bolstering investor confidence. These measures reportedly fostered renewed institutional participation and a more stable market environment.

Dunamu has been subject to stricter reporting requirements since 2022, when it was added to the list of companies requiring external audits due to exceeding 500 shareholders.

The improved financial performance mirrors a broader trend within the crypto sector, with Bitcoin mining company TeraWulf and BitFuFu both doubling their third-quarter revenue compared to the prior year.

As previously reported, Naver Financial, the fintech arm of South Korea’s largest internet company, is preparing to acquire Dunamu through a share swap, with board approvals anticipated shortly.

Upbit Korea currently holds the position of largest crypto exchange in South Korea based on trading volume and customer base, according to CoinMarketCap data.

Looking ahead, analysts expect continued market volatility to influence Dunamu’s future earnings reports.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.