Grayscale parent DCG's Q4 revenue rose 59% as bitcoin price increased

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  • Digital Currency Group said its 2023 fourth-quarter revenue rose to $210 million, a 59% increase from the same quarter of the previous year.

Digital Currency Group said Monday in a letter to shareholders that the company's revenue hit $210 million during the fourth quarter of last year, a 59% increase when compared to the same period the previous year.

The company, which owns Grayscale Investments, said higher asset prices, in particular for bitcoin, was primarily responsible for the rise in revenue. DCG also reported that its fourth-quarter EBITDA leapt to $99 million versus a negative $7 million during the same period in 2022.

"For the 2023 fiscal year, DCG’s consolidated revenues were $749 million with EBITDA of $275 million," the company also said in the letter to shareholders. &q