Intchains Revenue Drops 93.7%, Prioritizing Capital for AI and ASIC

Intchains Group announced that its revenue for the first half of 2026 was 11.11 million yuan, a 93.7% decrease from 175.58 million yuan in the same period last year. Most of the revenue came from the sale of non-core chip-related inventory. Sales of products aimed at general customers were significantly impacted by a slowdown in altcoin mining demand and restrictions on mining machine sales in mainland China. Total operating expenses for the first half were 42.04 million yuan, with an operating loss of 52.97 million yuan and a net loss of 148.91 million yuan, resulting in a loss per share of 1.22 yuan. Intchains is shifting its business focus towards product development and operational efficiency in Ethereum accumulation, holding cash and short-term investments of 461.1 million yuan as of the end of June. The Ethereum staked amounts to 4,556, with 3,556 deposited on the Goldshell platform and 1,000 on the FalconX platform. Intchains continues to develop next-generation mining ASICs, aiming for commercial release in the fourth quarter of 2026. The AI business is also in its early stages, with cost reduction and growth potential being evaluated. A share buyback program worth $15 million has also been announced.

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