- The company finished the nine months ended May 31, 2021, with $47.5M in total assets
- Neptune’s $250,000 investment in the Protocol Fund was valued at $1,737,959 as of May 31, 2021
- Neptune is currently earning $480,000 per month or $5.8M annualized
- Neptune aims to have at least 75 PH/s of Bitcoin mining online by the end of the calendar year
- Neptune’s cash operating costs averaged approximately $72,000 per month for the nine months ended May 31
- Neptune Digital Assets is one of the first publicly traded blockchain companies in Canada with diversified assets and cryptocurrency operations
- Neptune Digital Assets Corp. (NDA) opened trading at C$0.55 per share
Neptune Digital (NDA) is pleased to provide a corporate update for the nine-month period ended May 31, 2021.
“We are quite pleased with our revenue growth over the period and subsequent to period end. Neptune continues to operate on a very lean cash budget and earnings continue to grow as we expand our mining operations. We were very fortunate to be able to take advantage of the substantial market pullback with our newly raised capital to purchase mining rigs and crypto at a 50 per cent discount from the top of the market”, stated Cale Moodie, Neptune CEO.
Below are a number of financial highlights pertaining to the period ended May 31, 2021, and subsequent to the period end:
- The company finished the nine months ended May 31, 2021, with $47.5M in total assets, an increase of 1,250 per cent from the beginning of the year.
- In the three months ended May 31, 2021, Neptune had realized gains and other income related to staking, Bitcoin mining and other operations of $1,652,551.
- Subsequent to May 31, 2021, Neptune Digital earned US$158,000 from exercising Bitcoin put options at the Bitcoin low of roughly US$29,000.
- The company’s largest digital asset holdings as of the date of this release are 110 BTC, 143,100 ATOM, 1.44 million FTM, 290 ETH, and 2,075 DASH. Neptune also holds positions in DOT, BCH, Litecoin, Stellar, NEO, OMG, QTUM as well as the investment in the Protocol Fund.
- Neptune’s $250,000 investment in the Protocol Fund was valued at $1,737,959 as of May 31, 2021.
- Neptune is currently earning $480,000 per month or $5.8M annualized as of the date of this release. This is expected to increase by the end of summer as an additional 22 PH/s of Bitcoin miners come online.
- Neptune aims to have at least 75 PH/s of Bitcoin mining online by the end of the calendar year.
- Neptune is continually purchasing Bitcoin and ETH in order to dollar cost average.
- Neptune’s cash operating costs were approximately $652,000 for the nine months ended May 31, 2021, or approximately $72,000 per month.
- Losses that occurred during the quarter ended May 31, 2021, relating to unrealized and non-cash amounts are due to the pullback in cryptocurrency prices. These losses are required to flow through the income statement under International Financial Reporting Standards.
Neptune Digital Assets is one of the first publicly traded blockchain companies in Canada with diversified assets and cryptocurrency operations across the digital asset ecosystem including bitcoin mining, tokens, proof-of-stake cryptocurrencies, decentralized finance (DeFi) and associated blockchain technologies.
Neptune Digital Assets Corp. (NDA) opened trading at C$0.55 per share.