DigitalBTC Reports Net Loss On Falling Bitcoin Price
Australian bitcoin company Digital CC Ltd has published the results for its half-year period up to 31st December 2014, posting a $2.3m net loss after tax. Notably, the firm was the first bitcoin company to be listed on the Australian Securities Exchange (ASX), trading as digitalBTC. "The statutory loss recorded for the half has been impacted by necessary accounting adjustments flowing from digital currency price declines," executive chairman Zhenya Tsvetnenko said. The firm's total revenue was $14.5m. Of this, $9.9m came from its liquidity desk and $9.9m from digitalX Direct sales. The....
Related News
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.....
But there is more, as the rebranding from DigitalBTC to Digital X also led to the company purchasing US$6.7m on buying bitcoins for their liquidity desk. People who have been following the Bitcoin scene for quite some time now will remember a company called DigitalBTC. This enterprise is now listed on the ASX as FinTech firm Digital X, and they have reported a US$1.2m loss after pivoting from their Bitcoin mining business model. Finding a proper business model in the Bitcoin ecosystem is not an easy task these days, even though there are still a lot of ways to make money. Bitcoin mining....
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....
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....
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....