- Bluesky Digital Assets Corp. (BTC) has reported positive earnings in its interim financial results for the first quarter of 2021
- Highlights include major increases in gross revenues, over $1.7 million in total available cash, and $1.02 million in proceeds from business operations
- Bluesky Digital Assets mines digital currencies such as Bitcoin and Ether and is developing value-added technology services for the digital currency market
- Bluesky Digital Assets Corp. (BTC) is down 5.45 per cent, trading at $0.52 per share
Bluesky Digital Assets Corp. (BTC) has reported positive earnings in its interim financial results for the first quarter of 2021.
The company reported gross revenues of $743,267 from its digital mining operations, an increase of 631 per cent year-over-year. Gross revenue was also up significantly compared to the previous quarter by an increase of 308 per cent.
At the end of the first quarter, which ended March 31, 2021, Bluesky reported over $1.7 million total available cash, representing an increase of 181 per cent year-over year.
Due to a one-time issuance of stock options at the end of Q4 2020 and equity financings in Q1 2021, the company reported a total loss of $1.26 million in Q1 2021 compared to a loss of $371,735 in Q1 2020. The company expects that these stock options will be exercised in due time, brining those cash proceeds back into the treasury.
In a press release announcing the financial results, the company noted that “with the removal of the stock options and equipment depreciation, the corporation would have actually realized a profit of $564,537 for the quarter.”
Also in the first quarter, the company completed a legacy business segment, gaining nearly $300,000 in proceeds from the exit.
Combined with its active digital crypto mining operations, the company brought in a combined $1.02 million in gross proceeds from its business operations during the first quarter, an all-time high for Bluesky.
Bluesky Digital Assets Corp. is building a high value digital currency enterprise.
The company mines digital currencies such as Bitcoin and Ether and is developing value-added technology services for the digital currency market.
Bluesky Digital Assets Corp. (BTC) is down 5.45 per cent, trading at $0.52 per share as of 12:52 pm ET.
