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> Not sure how that works exactly

My gusss is: If they take a cut in crypto and that crypto increases in value, that increase wouldn't be turnover but it would be profit?

Correct. Capital gains is profit.

Further down, I'm reading comments saying that they did shut down because of a lack of profitability. So which one is it?

Looking at the downward trend in volumes, I suspect the profits come from the results of selling their bitcoins they have been holding in the balance sheet, the service itself is unprofitable.

Selling assets pumps up the bottom line, but if that's your only source of income, you're better off just liquidating the company and cutting the losses

They held a ton of cryptos they got when BTC was $verylittle, and have been slowly selling to cover expenses?