After Trump won the elections, the Chinese company suffered an explosion in mining devices demands in this subcoine!

Dogecoin’in (DOGE) After the November 2024 US elections, the rising price has created an unexpected pressure on the China -based Intchains Group, the Altcoin mining products provider. After underestimating the size of the demand, the company found itself trying to meet the order to meet the Dogecoin mining equipment.

Intchains announced its earnings all year on Thursday and announced a net revenue of $ 8.3 million out of the GAAP over $ 38.6 million revenue, which reflects a significant increase of 242.7 %compared to the previous year. The company sold 2,681,500 ASIC chips in 2024 and increased by 84 %compared to the previous year. In particular, only in the 4th quarter of 2024, 1,705,408 units were sold and a significant leap was made from 423.040 units sold in the same quarter of the previous year.

Qiang Ding, Intchains CEO and Chairman of the Board of Directors, “Crypto para The market performed strongly in the 4th quarter of 2024, and the optimism of the 2025 expectations of the major financial institutions increased. Edi He added: “Dogecoin, which continued to accelerate, saw a solid price increase for a quarter. The company, which is the leading supplier of Dogecoin mining machines, achieved satisfactory operational results in the 4th quarter of 2024. ”

Following Donald Trump’s election victory and appointing Elon Musk per newly established State Productivity Department (Dogge), the demand for Dogecoin mining machines rapidly increased. This increase caught Intchains unprepared and led to an accumulation of unrelated orders that spread to the first quarter of 2025.

The price of Dogecoin rose to a summit just above $ 0.47 from $ 0.15 on November 12, following Trump’s announcement of Musk’s new role. The market value of the crypto currency later exceeded $ 60 billion. However, with the decrease in general crypto money, it was significantly resumed.

*It is not an investment advice.