DigitalBTC Reports $6.77 Million First Year Net Loss: Management Nonetheless Bullish
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.....
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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....
DigitalBTC has released the first set of financial results for a publicly traded bitcoin company. The Australia-based bitcoin mining services provider has emerged as an industry leader, making history when it debuted on the Australian Securities Exchange (ASX) last June. As such, digitalBTC provides a unique window into the bitcoin mining industry, a sector that is only beginning to become more transparent as it attracts investor interest. In its preliminary final report for the full financial year, the company reported estimated revenue of $4.0m and normalised earnings (EBITDA) of....
In this year's second quarterly report, Australian firm DigitalBTC says that it has put up $1.2 million in losses, bringing the total losses for the year to $2,744,000. Despite this, the company has purchased a total of over $29.6 million in bitcoins this year, with $10,116,000 of that being in this quarter. The bitcoins are designated for digitalX Direct, the company's "flagship product" which launched at the end of last year. DigitalX Direct's purpose is to provide liquidity to institutional users, such as merchants and Bitcoin sellers. Previously much of their customer base had been....
Australian investment firm Macro Energy Limited, which recently acquired digitalBTC, has announced a strategic agreement with CloudHashing.com - a company that lets customers pay to use its servers to mine bitcoin, rather than invest in their own rigs. Macro is planning to raise AU$9.1m as part of the digitalBTC deal and last week it said it will invest the money in mining operations and the expansion of other digitalBTC operations. It now appears that a sizable chunk of the investment will go toward the newly announced strategic deal with CloudHashing.com. 'Win-win' situation. Under the....
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....