MiniMax token consumption surged 20x from January to July

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MiniMax token consumption reached a new resistance level in July, surging 20 times higher than in January. During its mid-year earnings call on August 26, 2026, MiniMax reported ARR exceeding $800 million in August, with Q2 revenue up 81.8% from Q1. B-end business now accounts for over 80% of total ARR. The token’s strong performance suggests a potential support level is forming around current consumption trends.

Odaily Planet Daily report: On the evening of August 26, MiniMax disclosed at its mid-year 2026 earnings call that its annual recurring revenue (ARR) for August has exceeded $800 million, with second-quarter revenue increasing by 81.8% quarter-over-quarter from the first quarter. Token consumption in July reached 20 times the level of January, and B2B business now contributes over 80% to total ARR.

MiniMax stated that, in terms of computing power, the company is one of the two independent large model companies in China that were among the first to establish a scaled, long-term, and stable infrastructure system. The infrastructure is now capable of independently supporting the largest training tasks, with an ETTR (Effective Training Time Ratio) reaching 97%.

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