The revenue from computing power at the three major telecommunications operators has increased, and token services are gradually becoming the main business line.

Recently, the annual reports for the year 2025 of the three major telecommunications operators have been released one after another. Overall, the main performance indicators of the operators are operating at high levels, but in terms of total volume, the situation of weak growth has not significantly improved. Structural income growth in areas such as computing power services, innovative businesses, and international operations remains the main bright spot. In 2025, the three major operators will continue to focus their basic resource investments on computing power. It is noted that according to the disclosed capital expenditure plans, investments related to computing power will continue to be a key focus for the operators this year. Of course, the focus for the foundation of smart computing infrastructure still needs to be on how to realize its value. Judging from the statements of the three operators, managing tokens will gradually become the main focus.