DigitalBTC Downplays Negative Cashflow in Q3 Report
The low price of bitcoin is starting to knock a dent in digitalBTC's finances, according to the company's latest regulatory filing. The Australia-based firm reported US$4.36m cash reserves in its Q3 report, along with approximately 8,800 BTC awaiting liquidation, which is currently valued at almost $3.37m. However, because of investments in mining equipment and the fact that the firm is holding a significant portion of its mined bitcoin, the company posted an operating loss of $261,000. Despite the figures, the company is downplaying the effect of short-term price fluctuations on its....
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Australian cryptocurrency firm DigitalBTC bought $10.1m worth of bitcoin in Q2 of this year, the company's latest quarterly report reveals. This brings the amount of bitcoin the company has purchased over the past 12 months to almost $29.7m. The report also shows DigitalBTC - the first crypto firm to list on Australian Securities Exchange (ASX), under Digital CC Limited - closed the quarter with an inventory of $1m in bitcoin. Nevertheless, the company reported a negative operating cashflow of $1.2m in Q2 of 2015 having received around $10.8m for operating activities, but spending close to....
The remittance market is a key area where Bitcoin and digital currency could make a splash. Sending money overseas to family and friends is pretty expensive these days, and the remittance space is dominated by a handful of players. But that isn’t stopping Australia-based DigitalBTC from distributing a remittance product of their own. DigitalBTC – Digital Payment Solutions. When it comes to processing digital payments, DigitalBTC is not the new kid on the block. In fact, did you know that DigitalBTC is a publicly traded company on the Australian Stock Exchange under the name “Digital CC....
DigitalBTC has inked a strategic hardware supply agreement with BitFury, one of the leading manufacturers of bitcoin mining equipment. The company is owned by Australian investment firm Macro Energy, which acquired Digital CC and its subsidiary digitalBTC last month. Thanks to the acquisition, the firm became the first bitcoin-related business to be listed on the Australian Stock Exchange (ASX). Mining plans. At the time Macro Energy said it plans to raise AU$9.1m and to invest the money in the expansion of digitalBTC operations, including bitcoin mining. Soon after digitalBTC entered a....
DigitalBTC, the Australia-based miner, has reported a first-year net loss of $6.77 million on annual mining revenue of $6.4 million, according to zdnet.com. The company nonetheless claims to be very bullish on bitcoin. The company, which trades as Digital CC Limited on the Australian Securities Exchange (ASX), reported negative earnings before interest, tax, depreciation, and amortization (EBITDA) of $3.16 million for the full year ending June 2015. Second Quarter Brought $1.2 Million Loss. In this year's second quarterly report in late July, DigitalBTC reported $1.2 million in losses.....
Australian bitcoin firm DigitalBTC has reported its quarterly earnings, the first since the company went through a reverse takeover and re-listing on the Australian Securities Exchange (ASX). The company reported positive cash flow from bitcoin mining activities and bitcoin liquidity propositions, adding that it has already managed to recoup investments in its mining operations. In addition to mining, DigitalBTC is trying to enter the consumer space and has made it clear that it plans to use revenue generated by its mining business to fuel further expansion. As DigitalBTC is the first....